VC will team up with Ministry of the Economy in companies capitalisation

The Portuguese Venture Capital Association (APCRI) says that it is open to a collaborative partnership with the Ministry of the Economy to capitalise companies as part of Portugal’s Recovery and Resilience Plan.

The Associação Portuguesa de Capital de Risco (APCRI) says it would also cooperate with the Portuguese state-run development bank Banco de Fomento in fine tuning instruments which, through venture capital, will free up private investment in companies.
“The reaction we got was great: the APCRI will cooperate in developing solutions to capitalise Portuguese companies”, said Stephan Morais who sits on the board of the APCRI and heads Indico Capital Partners.
A meeting with the ministry took place on Wednesday with the APCRI which showed the government that there was the opportunity to advance which instruments which through the Banco de Formento Português will mobilise the application of more private capital in the Portuguese economy, along with the European funding from the PPR.
In the meeting with the minister of the Economy, the APCRI handed Pedro Siza Vieira the study ‘An Analysis of the Venture Capital Industry in Portugal compiled by the Lisbon Business School (ISCTE) in October.
The report showed the ability that the sector has in mobilising private capital to invest in companies, achieving remarkable rates of returns and a high tax payment level.”
The ISCTE study “shows why the venture capital vehicle is the best instrument to distribute PPR investment to Portuguese companies. The main reason is that venture capital draws on the participation of private investors, which invest their own money for returns, on the whole guaranteeing company results that are far higher, on average, than in the rest of the economy”.
From the meeting with the minister Pedro Siza Vieira, the President of the APCRI, Luís Santos Carvalho, one of the founding partners of Vallis Capital Partners emerged a cooperation with the Ministry of the Economy.
“This cooperation will include the participation of the APCRI in working groups that will develop solutions to increase capital in Portuguese companies via sums from the RRP,” said Stephan Morais.