Banco do Nordeste's R$120M seed fund targets 30 startups
What's the deal? Banco do Nordeste (BNB) has launched the Capital Semente investment fund with R$120 million to back early-stage startups across northeastern Brazil. Each company can receive up to R$6 million, and the fund expects to back roughly 30 businesses.
The details: BNB built the fund alongside the Financiadora de Estudos e Projetos (FinepDealroom has a profile for this one. Try Dealroom →) and SebraeDealroom has a profile for this one. Try Dealroom →. It offers an initial investment of up to R$1 million, with a second round of up to R$5 million for companies showing consistent growth.
Who can apply? Startups with annual gross revenue up to R$4.8 million and operations in the Northeast — plus parts of Minas Gerais and Espírito Santo — are eligible. The fund targets fintech, education, health, renewable energy, biotechnology, agribusiness, and cybersecurity.
Why now? Access to capital in a company's early years remains one of the biggest barriers for founders. The fund is designed for the stage where a solution is validated but still needs money to grow, said Sandra dos Santos Lisboa, BNB's superintendent of financial operations and capital markets.
What they said: The money "can represent the decisive push for startups that are in the validation phase of their Minimum Viable Product (MVP) or that have already started generating revenue," Lisboa said.
The state of play: Capital Semente is already operating, with investments made in companies in Paraíba and Pernambuco. Interested firms can register projects on the fund's portal, followed by technical and financial evaluation stages.
The signal: The fund pushes venture capital toward startups outside Brazil's traditional technology hubs, aiming to spur qualified jobs and new products across the regions BNB serves.
Read more: Portal IN
