In January 2007, BNDES created Programa CRIATEC, within which, a BRL 80 million budget was contemplated for participation in investment fund with an aim at capitalizing micro and small innovative companies with seed capital and providing them with adequate management support. The fund will have as its legal basis Instruction CVM no. 209. 



» Criatec Manager has already been selected

The process for selection of CRIATEC Fund manager was concluded and approved by BNDES Directors. The consortium formed by Antera Gestão de Recursos and by Instituto de Inovação was the winner.

The 6 (six) cities where Regional Managers will be created have also been chosen:

Florianópolis; 

Campinas (comprehending the capital and other neighboring cities);  

Rio de Janeiro;

Belo Horizonte;

Fortaleza;

Belém.

The Fund Manager consortium is currently carrying out a selection for the contracting of the teams which will integrate the Regional Managers, being responsible for investments in target-companies, their monitoring and later divestments. 



» Fund Duration

The Fund will endure for 10 years, the first four years being the Investment Period. 



» Investment Policy

Eligible for support will be companies with net invoicing of up to BRL 6 million in the year immediately before the Fund capitalization, being that: 

The Fund focus is investment in innovative companies operating in IT, Biotechnology, New Materials, Nanotechnology, Agribusiness and other sectors;  

A minimum of 25% of the Fund equity shall be invested in companies with invoicing up to BRL 1.5 million;  

A maximum of 25% of the Fund equity shall be invested in companies with invoicing between BRL 4.5 million and BRL 6 million;  

There may be a second capitalization by the Fund in some of the invested companies; and  

The maximum investment amount by company will be BRL 1.5 million. 



» Fund Equity 

The Fund equity shall be BRL 80 million.



» Additional information

Additional information on CRIATEC may be obtained at Fund Manager's web site.