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Private Equity and Venture Capital in Brazil - BVCA admin

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<strong>Brazil</strong> Fund Structures<br />

• Funds for <strong>in</strong>ternational <strong>in</strong>vestors are typically<br />

structured as limited partnerships (Delaware or<br />

Cayman Isl<strong>and</strong>s) with <strong>in</strong>vestors as limited partners<br />

<strong>and</strong> sponsor as general partner<br />

• <strong>Brazil</strong>-focused <strong>in</strong>ternational funds utilize this structure,<br />

but also typically utilize a “FIP” structure to make<br />

<strong>in</strong>vestments <strong>in</strong> <strong>Brazil</strong>ian portfolio companies<br />

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