A group of entrepreneurs from Rio de Janeiro is creating a stock exchange within the Complexo da Maré, which aims to revolutionize the way small startups relate to the market, and create investment alternatives with the participation of individuals.
In an interview with Exame published today (20), the president of the embryonic (BVM) 12, Eduardo Baumel, explains that the idea came up in June last year, as a project within Banco Maré, a financial sector fintech created in the Complexo da Maré, in Rio, to serve the unbanked population of low-income communities.
The name of the bank gave rise to the Maré Stock Exchange, or (BVM) 12, where the numeral represents the number of startups that entrepreneurs would like to reach in principle. The goal is to allow technology startups to have an alternative to obtain resources for their business, in addition to traditional mechanisms.
How (BVM) 12 works
The starting point of (BVM) 12 is the growing interest of individuals in the stock market. According to Baumel, “B3 (São Paulo Stock Exchange) recently celebrated the mark of 2 million CPFs on the stock exchange. It’s been fantastic growth over the past two years ”.
The idea is to take advantage of this knowledge and people’s desire to invest in the stock exchange, through the (BVM) 12, to make the primary issuance of shares from startups to investors. In practice, the process will function as a kind of equity crowdfunding, a form of collective investment, in which people invest their money in companies and are entitled to shareholding.
The expectation is that companies will make public offerings of shares with lower values when compared to traditional IPO’s (initial public offerings of shares). In (BVM) 12, the value of each offer should not exceed 10 million reais.
According to Baumel, ten startups have already shown interest in participating in the project.