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From 1 January to 5 June, there was an increase in the capital raised by Portuguese startups and scaleups when compared to the amounts raised in the whole of 2023. According to experts, this reflects three State initiatives: Banco Português de Fomento’s programmes aimed at venture capital companies, specifically Venture Capital; the tax benefits of SIFIDE; and, lastly, the end of the granting of golden visas.
Speaking to Expresso, Domingos Cruz, Managing Partner of CCA Law Firm, comments on what may have fuelled this increase in capital from the entrepreneurial ecosystem.
“(The Government's three initiatives) justify a possible appetite to invest. I think that right now what is missing are projects in which to invest capital,” says CCA's Managing Partner, adding at the same time that with the increase in the flow of foreign capital raised “we're attracting more international funds to invest in Portugal, which is fundamental for the ecosystem to develop.”
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- Expresso