Vox’s Impact Investing Fund I will provide financing and advice to up to ten SMEs and up to 12 start-up companies.
The firm claims IIF I is the first Brazilian venture fund to target investments in companies providing high-quality goods and services to people with low incomes, primarily in the education, health, finance and housing sectors.
MIF said it expected its investment to raise awareness of the need to back sustainable companies that can provide profitability while focusing on the low income population as clients, consumers and service providers.
Last month Paypal co-founder Peter Thiel made his first investment in a Brazilian start-up by backing a $13m financing round for São Paulo-based Oppa.com.br through his Valar Ventures vehicle.
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