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INSTITUTO RIO

Fondo permanente Vera Pacheco Jordão

Set up by publisher Geraldo Jordão in 2005, Fondo Permanente VPJ was Brazil’s first socially engaged investment fund and has made it possible to support hundreds of small organizations and projects in Rio de Janeiro’s West Zone. Fondo Permanente’s objective is to provide a continuous source of funding for Instituto Rio projects. This is possible because the profits made every year by the Fund are allocated to implementing projects, while capital is reinvested in the financial market to generate new income. Of the 150 projects supported by Instituto Rio in the last four years, 110 were funded outright by Fondo Permanente. According to it report on 2008, of the 41 projects submitted by Instituto Rio, 31 were accepted by the Fund and this meant that 6,680 people were able to benefit by their implementation. Instituto Rio has consolidated its role as a foundation at the service of the community in the West Zone. In addition to funding projects, it provides intermediation and training workshops in various fields, thus becoming an effective bridge towards investment and social development.

THE PARTNER

Instituto Rio

Set up in 2002, Instituto Rio is a no-profit organization operating in Rio de Janeiro’s West Zone, an area of some 47,000 hectares and a population of around three million, making it the biggest and most densely populated part of the city. Instituto Rio is absolutely revolutionary in Brazil today, in that it promotes the development of the local community and a private investment scheme at the same time. The organization receives funds from private sources and various Brazilian and international associations and businesses.

Of the many social projects that Instituto Rio works on, Fondazione Zegna chose to support the Fondo Permanente VPJ, an investment manager run by a committee of experts. Every year its profits are channeled into the Instituto’s projects, including Orquestra Sinfônica Jovem de Campo Grande, which aims to develop the musical sensibility of the local community’s young.
Fondazione Zegna’s support has made it possible to immediately implement a social/cultural program – in the true spirit of the Instituto Rio – and at the same time lay foundations for future projects thanks to the Fondo Permanente, thus helping to foster a new concept of philanthropy.