The FIP Conexões Startups venture fund from BNDES and Finep closed its manager-selection call on Aug 12, 2026, drawing 19 proposals; BNDESPAR commits up to R$100M and Finep R$50M toward a target of up to R$250M. It invests in early-stage startups with annual gross revenue up to R$20M that have completed programs like Centelha, Tecnova, Inovacred, Mais Inovação or BNDES Garagem. The selected manager will be announced by Nov 23, 2026.
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BNDES-Finep FIP Conexões Startups draws 19 managers for R$250M early-stage fund
Why this matters for founders
Founders who have already gone through Finep/BNDES innovation programs (Centelha, Tecnova, Mais Inovação, BNDES Garagem) should keep their alumni status documented and track the Nov 23 manager pick, since the winning fund will be actively sourcing eligible early-stage deals.
Source: Startups.com.br
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