SAO PAULO, July 18 (Reuters) - An alternative investment vehicle controlled by French insurer AXA (AXAF.PA) said on Tuesday it will inject $49 million into reforestation projects in Brazil led by local startup Mombak. Mombak, which is also backed by Bain Capital, will lead projects to reforest over 10,000 hectares of degraded pastureland, generating up to 6 million carbon credits. "We are building the largest carbon removal projects in the world," Mombak co-founder Peter Fernandez said in an interview. "The single largest opportunity that humanity has to do reforestation is in Brazil." "We would like to significantly scale up our deployment in Brazil and other Amazon basin countries."

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Persons: Mombak, Peter Fernandez, Fernandez, Adam Gibbon, Gabriel Araujo, Brad Haynes, Josie Kao Organizations: SAO PAULO, AXA, AXA IM Alts, Bain Capital, Greenpeace, Reuters, Thomson Locations: Brazil