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Decree Law No. 38/2020


Publication: Republic Diary No. 137/2020, Series I of 2020-07-16
  • Issuer: Presidency of the Council of Ministers
  • Diploma Type: Decree Law
  • Number: 38/2020
  • Pages: 4 - 6

Summary in plain english

What is it?

This decree-law creates the “Transfer and Disposal” Venture Capital Fund, hereinafter referred to as Fund.

What is going to change?

It envisages the creation of a new fund, which will allow the management of venture capital participations in companies, benefiting from their valuation, with a view to their short-term sale to private investors.

The Fund's capital will be paid up by means of the entry of the stakes that IAPMEI - Agência para a Competitividade e Inovação, I.P. holds or will hold by sharing the assets of the funds in liquidation, as well as of ancillary liquidity.

Portugal Capital Ventures - Sociedade de Capital de Risco, S.A. is responsible for the management of the Fund, since it is an entity integrated in the State's business sector, in which IAPMEI holds a majority stake.

What advantages does it bring?

This decree-law guarantees an efficient management of the stakes transmitted to IAPMEI, as a result of the liquidation of venture capital funds in which IAPMEI participates.

When does it enter into force?

This decree-law enters into force on 17 July 2020.

Original Version

LEGAL TRANSLATOR

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CONSOLIDATED LEGISLATION

Legislative consolidation integrates the various amendments and rectifications made into an original legal diploma in order to make its consultation more accessible to the citizen.