Möbius and Desenvolve SP raise $13.9M fund for rural internet and data centers

What's the deal? Möbius Capital and Desenvolve SPDealroom has a profile for this one. Try Dealroom → have launched a US$17.9M (≈$13.9 million) fund to finance regional internet providers and small data centers in São Paulo state. The vehicle is a FIDC, a receivables-investment structure that buys what companies are owed.

How it works: The fund can advance providers the money from clients' monthly subscriptions, finance equipment purchases, and back expansion, including mergers and acquisitions. Regional internet providers tend to have predictable revenue but struggle to find credit to grow.

Who put in what: Desenvolve SP, the state of São Paulo's development agency, subscribed US$12.8M in senior shares, which have payment priority. Möbius took US$5.12M in subordinated shares, meaning the manager absorbs the first losses if a deal goes wrong.

Why now? The regional provider market is consolidating, with larger firms buying smaller rivals — deals that depend on capital. The bet is that interior cities with low internet penetration gain connectivity and closer access to data centers, helping local businesses.

Möbius reached the deal through a public call from Desenvolve SP, passing eligibility analysis, an in-person presentation, and due diligence before committee approval.

What's the endgame? "Our goal is to broaden access to credit and provide resources for innovative businesses. Through blended finance, we attract private investment, amplify the impact of public funds, and reach more entrepreneurs," said Ricardo Brito, chief executive officer of Desenvolve SP (translated from Portuguese).

Founded by former Credit Suisse executives, Möbius has worked in digital infrastructure for about five years and holds roughly US$255.8M in committed and invested capital. It is also raising a new structured-credit fund targeting up to US$255.8M.

The signal: The fund is a test of blended finance — pairing public and private money — to channel credit into Brazil's fragmented regional connectivity market as it consolidates and as demand for distributed data capacity grows.

Read more: exame.com

Image credit: Governo do Estado de São Paulo