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MIF to invest up to US$9 million in Brazilian technology companies

FORTALEZA, Brazil - Inter-American Development Bank President Enrique V. Iglesias, the president of the Banco do Nordeste and officials of the Stratus I Fund today signed documents for investments of up to US$9 million by the Multilateral Investment Fund in small- and medium-sized Brazilian technology companies.

Byron Costa de Queiroz, president of the Banco do Nordeste, signed documents for a MIF investment of up to 14,400,000 reais, about US$6 million.

The investment will be channeled into innovative companies in the Northeast of Brazil that are technology-based.

In a second operation, Alberto Costa Sousa Camões and Alvaro Luis Gonçalves, executive directors, were among those representing Stratus Investments Lta. in a signing ceremony for a MIF investment of up to $3 million and a grant of $60,000 to support the Stratus I Fund for Emerging Technology-based companies.

The fund will provide venture capital and investments for small- and medium-sized companies with high potential for growth and innovation.

The fund will target investments for information technology, communications, logistics, media content, and electronic equipment and components and will achieve groundbreaking advances in the area of corporate governance and venture capital regulation through voluntary higher standards.

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