Beats | June 13, 2019

Blue like an Orange finances information technology acquisition in Brazil

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, June 13 – Grupo Cimcorp, one of Brazil’s largest information technology service providers, lined up an undisclosed amount of financing to acquire a local software company.

Blue like an Orange Sustainable Capital, the debt fund founded by former World Bank officials to finance the Sustainable Development Goals, provided $25 million of the total financing, which also included The Rohatyn Group and Actinver Capital Management.

Former World Bank officials launch BlueOrange for SDG investing in Latin America

As for social impact, Blue like an Orange cited Cimcorp’s client base of small- and medium-sized businesses, its work with nonprofit and public agencies and its job creation in Brazil’s north and northeast, where high-paying jobs for skilled labor are limited.

The fund said the investment ticked four of the global goals, including No. 8 (Decent Work and Economic Growth) and No. 9 (Industry, Innovation and Infrastructure). It was the third deal for Blue like an Orange (following financing for Cabify and Produbanco).