Brazil's BNDES to Launch AI and Data Center Investment Fund in 2026
December 3, 2025
Brazil's National Bank for Economic and Social Development (BNDES) is advancing plans to establish a dedicated investment fund for artificial intelligence and data center infrastructure, with a formal launch targeted for early 2026. The move signals a strategic push by the state-owned development bank to position Brazil as a competitive player in the global digital economy by catalyzing private capital into critical technology sectors.
The initiative was detailed by Nelson Barbosa, BNDES's Director of Planning and Institutional Relations, during the Brazilian Economy Week event in Rio de Janeiro on December 1. According to Barbosa, the fund is expected to have an initial capital commitment ranging between R$500 million and R$1 billion (approximately $93.5 million to $187.5 million), with a formal announcement anticipated in the near term.
The fund's structure will mirror a model previously used for a critical minerals investment vehicle, which was created in partnership with mining giant Vale. That fund, managed by a consortium including BB Asset, JGP, and ORE, started with R$500 million equally split between BNDES and Vale and aims to raise up to R$1 billion from additional investors. Barbosa indicated the new AI and data center fund would likely follow a similar framework, with BNDES and an anchor investor each taking a 25 percent stake before selecting an external manager through a public tender.
Barbosa linked the fund's timing to broader economic conditions, noting that market expectations of a reduction in Brazil's benchmark Selic interest rate in 2026 could stimulate greater demand for medium and long-term investments. He stated the bank is prepared with the necessary resources to meet this anticipated demand under prevailing market conditions.
This specialized fund aligns with BNDES's broader institutional targets to increase its approval volume to 2 percent of GDP and its disbursements to 1.5 percent of GDP by 2026, with a potential rise to 2 percent by 2028. Barbosa emphasized that the average four-year disbursement period for such projects reflects the essential role of long-term financing in Brazil's economic development.
The creation of a dedicated financing vehicle underscores the growing recognition of data centers and AI compute capacity as foundational, capital-intensive infrastructure. For Brazil, attracting investment in these areas is crucial not only for technological sovereignty but also for capturing the economic benefits of the global AI boom and meeting escalating domestic data processing demands.
Source: datacenterdynamics
Brazil's BNDES to Launch AI and Data Center Investment Fund in 2026
