A group of managers from São Paulo's main financial and business hub – the famous Faria Lima avenue – are working to boost the institute responsible for injecting money into social projects.
ADVERTISING
These are projects that governments are not interested in or do not consider for fear of the risks, with a greater focus on education. The Institute was named Ambikira, which in Tupi means shoot that bears fruit.
The Robin Hood Foundation of Brazil
Ambikira's goal is to be the “philanthropy institute of the financial market in Brazil”, as revealed by the Brazil Journal. The representatives of Brazilian Silicon Valley who embraced the project were inspired by the Robin Hood Foundation, the largest philanthropic entity dedicated to reducing poverty in New York.
Focus on financial return
Robin Hood makes social investments with a hedge fund logic, which are hedge funds or multimarket funds, with fewer legal restrictions and varying degrees of risk. The objective is to make a profit regardless of the market situation.
ADVERTISING
The same logic applies to the Ambikira Institute. “We want to make this philosophy available to anyone who wants to do philanthropy in a professional way,” said José Olympio Pereira, the former CEO of Credit Suisse and advisor to Ambikira, to Brazil Journal.
Luis Stuhlberger, Armínio Fraga, José Olympio Pereira and Rogério Xavier are businessmen who are investing in the idea, which is considered promising. The planned budget for social projects in 2022 totals R$7,7 million. There will be 26 projects supported.
(Photo at Top: Unsplah)
(*): Content in other languages translated by Google Tradutor
(🇬🇧): content in English
(🚥): may require registration and/or signature
