Indicator Capital will oversee the $39m internet-of-things fund co-founded by Qualcomm Ventures and the Brazilian government in January.

Mobile chipmaker Qualcomm’s corporate venturing unit, Qualcomm Ventures, and the Brazilian government-owned National Bank for Economic and Social Development (BNDES), have selected a fund manager for their internet-of-things (IoT) fund. Brazil-based venture capital firm Indicator Capital will oversee the $39.3m fund the two formed in January this year. Qualcomm Ventures and BNDES have each supplied…

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