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Bond partners with BTG Pactual for venture capital fund in Brazil

U.S.-based Bond will launch a venture capital fund in Brazil that will be distributed locally by Banco BTG Pactual SA, Valor Econômico reported.

The company is looking to gain 300 million Brazilian reais from the domestic market to build the fund, which reportedly will be restricted to professional investors.

The move marks the latest signal of foreign interest in the Latin American startup and technology space, which has shown several deals over the course of the year.

Prior investments by Bond founder Mary Meeker, a former Morgan Stanley official, reportedly include LendingClub, Snapchat, Airbnb, Pinterest, Spotify and Twitter.

As of Sep. 10, US$1 was equivalent to 4.11 Brazilian reais.