(Valor) The sale of shares in the variable income portfolio opens space for the National Bank
for Economic and Social Development (BNDES) to expand its presence in investment
funds, the institution’s president, Gustavo Montezano, told Valor . order R$30 billion to
R$40 billion [of the bank’s investments in investment funds] over the next five to six
years,” Montezano said.
At the end of 2021, the bank’s balance in investment fund quotas was BRL 3.3 billion.
Montezano said there is a way to make this leap possible: “Capitalizing new funds and
opening up new asset classes. Hypothetically, you can invest in a fund that buys
biotechnology patents, scientific research, and thus open new markets. Funds, for
example, that will buy carbon [credit]. It is about diversifying and decentralizing our
operations,” he said.
“BNDES played a key role in promoting the venture capital fund industry in Brazil. We
want to use the expertise we’ve created and use our capital, which we now feel is
under-allocated, to further decentralize the [asset] management industry in Brazil,”