The alternatives market in Brazil, despite being young, is one of the most sophisticated globally. Part of this success is the dialogue and engagement between the private market and regulatory bodies and government agencies. Throughout the history of the industry, several regulatory milestones have had a direct impact on the expansion of the market and improvement in the business environment, taking into account the increase in local and foreign investors as well as the sustainable growth of Brazilian companies. Below is a timeline of the private equity and venture capital industry.