The National Bank for Economic and Social Development (BNDES), Petrobras, and the Funding Authority for Studies and Projects (Finep) announced on Monday, October 20, that the management company Valetec was selected in first place in the public call for the selection of a manager to structure the Investment Fund in Energy Transition and Decarbonization sectors (Energy Transition FIP).

In second place was the consortium formed by Ahead Ventures and Aecom, and in third place, Lightrock. With the completion of this stage, the winning proposal will participate in the final round of negotiations of the contractual conditions and the Fund's regulations, in addition to legal due diligence.
 
"We have advanced another step, which represents a milestone in BNDES's efforts toward the decarbonization of the Brazilian economy. We are mobilizing the capital market to accelerate investments in clean technologies, renewable energies, and solutions that ensure the country's energy security. This initiative reinforces President Lula's government's commitment to a sustainable, competitive future aligned with global climate goals," said BNDES President Aloizio Mercadante.
 
"Energy transition and decarbonization are current topics with major impacts on the future and will be priorities in the discussions at COP30. This call for proposals set a record number of submissions for the management of this FIP, and now our expectation is that the resources will be invested in these highly relevant areas, strengthening the support of FNDCT, Finep, and MCTI, aligned with Mission 5 of the NIB," said Finep President Luiz Antonio Elias.
 
"The completion of this stage of selecting the fund's manager represents another concrete step by Petrobras and reinforces its role in leading a just energy transition. By supporting innovative companies, we accelerate sustainable solutions that contribute to Brazil's development," said Petrobras's Director of Energy Transition and Sustainability, Angélica Laureano.
 
The call for proposals, announced in June 2025, stipulates that the fund will have a target capital of R$ 500 million, with a minimum capital of R$ 240 million required to begin operations. BNDES Participações S.A. (BNDESPAR), a wholly owned subsidiary of BNDES, is expected to commit at least R$ 50 million and up to R$ 125 million, limited to 25% of the fund. Petrobras is expected to contribute up to R$ 250 million, limited to 49% of the fund, and Finep, with resources from the FNDCT, will make up to R$ 60 million available for the FIP. In addition to the anchor investors, the fund has the potential to attract contributions from other investors interested in the target sectors.
 
The Energy Transition FIP aims to invest in around 15 Brazilian micro, small, and medium-sized technology-based companies (MSMEs) that develop technologies, products, and services focused on the energy transition sectors. Among the target sectors for the fund's investments are renewable energy generation; energy storage and electromobility; sustainable fuels; carbon capture, utilization, and storage (CCUS); and decarbonization of operations. Investments will take place in Brazil, and the target companies must have at least validated solutions and the beginning of recurring revenues (from seed capital to companies already in growth acceleration).
 
After the completion of the due diligence and analysis process, the investment in the FIP will be submitted for approval by the competent authorities of the anchor investors, with contributions to be made according to the fund's needs, which aim to boost decarbonization, energy transition, and energy security in Brazil.