Microsoft, Banco Votorantim partner on Brazil fintech investments

Microsoft Corp and Brazilian lender Banco Votorantim are investing together in financial technology startups, executives said in a Monday interview, as the U.S. tech company adds a new specialty to its venture capital portfolio in Brazil. Votorantim will invest an initial 3 million reais ($930,000) in the BR Startups fund created by Microsoft, with an expectation of funding about a half dozen young firms with investments ranging between 250,000 reais and 1.5 million reais. "We're looking for startups that have passed the validation and product development stage and need capital to scale up and gain traction in the market," said Gabriel Ferreira, head of strategy, planning and retail lending at Banco Votorantim.

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