Decree Law No. 38/2020
- Issuer: Presidency of the Council of Ministers
- Diploma Type: Decree Law
- Number: 38/2020
- Pages: 4 - 6
Summary in plain english
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.
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