Microsoft Ventures and Espirito Santo Ventures will be joined by another corporate venturing unit, Qualcomm Ventures, and will seek to secure up to BRL 300m ($127.8m) for the fund.

Computing company Microsoft’s corporate venturing arm, Microsoft Ventures, has launched an investment fund in Brazil in partnership with corporate venturing unit Espirito Santo Ventures that aims to invest up to BRL 300m ($127.8m) in local startups.

The fund, which will be known as Brasil Aceleradora de Start-ups, will begin with an investment base of BRL 10m ($4.3m) which will expand later. Microsoft Ventures and Espirito Santo Ventures will be joined by US-based wireless telecommunications company Qualcomm and AgeRio, a publicly…