Line of Financing for Special Purpose Vehicles Owned by Business Angels (2nd phase)

IFD-FC&QC-BA-02/17

(Applications closed)

Call for Tenders to select financial intermediaries that will receive financial resources from the Equity and Quasi-Equity Fund (FC&QC), managed by IFD – Instituição Financeira de Desenvolvimento, S.A., within the financial instrument Line of Financing for Special Purpose Vehicles Owned by Business Angels (2nd phase), with a total endowment from the FC&QC of 18.540.067,73€.

This call for tenders is governed by the Portuguese Public Procurement Code and intends to select and finance Special Purpose Vehicles owned by Business Angels, as defined in the call and annexed product data sheet.

The financial intermediaries are entitled to submit applications to this call through the certified platform VortalGov. This call was also published in Portuguese Diário da Repúblicaand in the Official Journal of the European Union.

IFD estimates that this line of financing, co-financed by the Portugal 2020 Programme (Regional Operational Programmes of Algarve, Lisbon and North and by POCI-Compete), will enable a direct financing to SME of over 30 million euros.

Special Purpose Vehicles owned by Business Angels

  • Majority ownership by BA (individuals);
  • BA certified by IAPMEI;
  • Focus of activity: Participation in companies;
  • Maximum co-financing by FC&QC of €750 000 per SPV.

Investment Priorities

  • IP 3.1 Creation of companies and start-up phase;
  • IP 3.3. Strengthen SME skills in the development of new products and services; Innovative projects at the process product, organisation or marketing level.

Investment Type

  • Minimum 70% in equity and quasi-equity instruments;
  • Consolidation or restructuring operations are not allowed.

Eligible Final Beneficiaries (SME)

  • Has not operated in any market;
  • Has operated in any market for less than seven years since the first commercial sale;
  • Requires an initial investment of risk financing which, based on a business plan prepared in order to enter a new product market or a new geographic market, is higher than 50% of its average annual turnover in the previous five years.

Investment Period: until 31/12/2019.

List of Committed Operations

Relevant documents of the call (in English):

Remaining documents from the Public Procurement process (only in Portuguese):

Porto, January 4, 2017

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