STXNEWS LATAM-Microsoft, Espírito Santo set up Brazil fund for start-ups
The venture capital units of Microsoft Corp and Portugal's Espírito Santo Investment Bank launched a fund to promote investments in Brazilian start-ups, according to a statement on Thursday. Other partners in the fund, named as Brasil Aceleradora de Start-ups FIP, include Qualcomm Inc's venture capital investment unit, and AgeRio. The fund expects to raise up to 300 million reais ($127 million) from investors and focus on research and development in education, oil and gas, aerospace, sports, farming and environmental issues, the statement noted.
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