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.
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).