When a company expands its production capacity, a concessionaire doubles a highway, a sanitation company brings treated water to a city, or a renewable energy park comes to fruition, there is a common element linking all these stories: the capital market.
He is the one who makes money materialize into roads, factories, transmission lines, sanitation networks, and so many other projects that transform financial resources into concrete benefits for society.
In recent years, the capital market has expanded its role in financing the Brazilian economy. Companies have increasingly resorted to instruments such as debentures, FIDCs (Investment Funds in Credit Rights), and investment funds to raise long-term capital, while investors have found new alternatives to direct their savings to the real economy. The result is a more diversified market, capable of connecting investors to projects that lead to the country's development.
This transformation can also be seen in the volume of resources that began circulating in the economy. Between January and May 2026, the capital market moved R$ 283 billion in offerings, representing an increase of 14.1% compared to the same period in 2025, according to Anbima (Brazilian Association of Financial and Capital Market Entities).
Debentures remain the main fundraising instrument, with R$ 146.3 billion issued during the period. However, the market's dynamism was also evident in the expansion of other modalities. FIDCs (Investment Funds in Credit Rights) raised R$ 41.7 billion, a 36.5% increase, while real estate investment funds (FIIs) raised R$ 31 billion and Fiagros, focused on agribusiness, R$ 5.8 billion – increases of 136.9% and 226.9%, respectively.
The growth of the Brazilian capital market can also be seen in infrastructure financing. Incentivized debentures, created to stimulate long-term private investment, have generated R$ 554.99 billion since 2018, of which 81.1% went to sectors such as electricity, sanitation, transportation, logistics, and telecommunications.
Between January and May 2026, incentivized and infrastructure debentures generated R$ 58.9 billion in issuances. During the same period, trading of these securities in the secondary market reached R$ 179.4 billion, the highest volume ever recorded for the first five months of the year in Anbima's historical series, indicating a more mature market for financing infrastructure projects.
The transportation and logistics sector captured a large portion of the resources. In 2025, it became the largest issuer of incentivized debentures in the country, with R$ 62.1 billion, followed by the electricity and sanitation sectors. The year ended with the highest volume of issuances in the historical series that began in 2018: R$ 177.97 billion.
The average maturity of incentivized debentures issued in 2026 reached 11.9 years, more than double that observed in traditional debentures (5.4 years), reinforcing their suitability for financing long-term projects.
Despite the progress, challenges lie ahead. The National Confederation of Industry (CNI) estimates that Brazil would need to invest 4% of its GDP annually in infrastructure to reduce its historical bottlenecks. Today, that percentage is around 2.2%. The difference shows that the country still has a significant demand for long-term investments and reinforces the importance of expanding funding sources capable of transforming projects into reality.
The capital market has, in fact, become a major enabler of Brazilian infrastructure. When an investor buys a bond, they are, in practice, financing the road that shortens their travel time or the modernization of the port that lowers the cost of products reaching their table. Each successful issuance acts as a bridge between those who have resources to invest and those who need them to execute projects capable of accelerating the economy.
The positive effects don't end when a project is inaugurated. According to FGV Ibre, every R$ 1 million invested in the infrastructure sector can generate R$ 3.34 million in economic activity. In other words, the money invested in a financial instrument multiplies, generating benefits for millions of people.
This cycle only exists because, on the other end, there are investors willing to finance projects. For those who invest, investing remains a patrimonial decision. At the same time, however, each investment also helps to stimulate the economy. When a company issues a debenture, a fund buys infrastructure bonds, or Fiagro directs resources to agribusiness, there is always someone on the other side of this transaction.
The financing of the real economy, therefore, does not depend solely on large investors. Millions of Brazilians participate in this process by investing their resources in bonds and funds that finance companies and infrastructure projects.
It is precisely this connection that inspires the campaign "Far Beyond Faria Lima – the capital market that moves Brazil," launched by Anbima. The initiative seeks to show that the capital market goes beyond the major financial centers and is present in projects that generate jobs, expand essential services, boost innovation, and contribute to the economic and social development of the country.
By bringing the topic closer to people's reality, the campaign seeks to translate the workings of the capital market in a simple and accessible way, highlighting how invested resources are transformed into concrete benefits for society. After all, behind infrastructure projects, productive ventures, and growth opportunities in different regions of Brazil, there is a market that moves resources, connects investors to projects, and helps build the country's future.
