Portugal Tech

Portugal Tech is a program of the Portuguese Development Bank (BPF) that supports projects and companies focused on technological innovation, digitalization, and technology transfer. Its objective is to finance startups, SMEs, and mid-cap companies with high growth potential, promoting the competitiveness, internationalization, and digital transformation of the Portuguese business sector.

Investment Period

Up to 5 years

Financing

Up to 20.000.000,00€

Funders

IAPMEI

Eligible Entities

Startups
SMEs
MidCaps

Portugal Tech

Portugal Tech is a program of the Portuguese Development Bank (BPF) that supports projects and companies focused on technological innovation, digitalization, and technology transfer. Its objective is to finance startups, SMEs, and mid-cap companies with high growth potential, promoting the competitiveness, internationalization, and digital transformation of the Portuguese business sector.

Investment Period

Up to 5 years

Financing

Up to 20.000.000,00€

Funders

IAPMEI

Eligible Entities

Startups
SMEs
MidCaps

Objectives and characteristics

  • Venture Capital Funds (VCFs) focused on technology transfer investments, venture capital, and growth capital (early-stage).

  • Startups
  • SMEs
  • MidCaps
  • Beneficiaries’ Obligations
    • Growth potential, namely through processes of productive innovation, internationalization, and digital transformation.
  • How to Apply
    • At the Venture Capital funds level:
      • Contact BPF/EIF directly
    • At the company level:
      • Contact the fund management companies:
        • Amilcar Venture Partners
        • Indico Capital Partners
        • Faber Ventures
        • Vallis Capital

  • In general, funds invest during the first 5 years of a 10-year activity cycle.

  • Mainly equity and quasi-equity instruments.
  • Geographical Scope
    • At the level of direct funds:
      • Funds managed by teams preferably based in Portugal or in the European Union.
    • At the level of companies:
      • Preferably investments in Portugal.
  • Conditions Applicable to Final Beneficiaries
    • Must be an SME, a Midcap, or a technology transfer project
    • In the case of SMEs or Midcaps, they must be established or operating in Portugal
    • In the case of a technology transfer project, it must be based on intellectual property originating from or developed in research or academic institutions, incubators, or accelerators established or operating in Portugal
    • Cannot be considered an “undertaking in difficulty,” as defined in the European Commission communication “Guidelines on State aid for rescuing and restructuring non-financial undertakings in difficulty” No. 2014/C 249/01
    • At the time of the first EIF investment, the company cannot operate in any of the economic sectors referred to as “EIF Restricted Sectors” in the EIF restricted sectors guidelines

  • Private Investors / Financial Intermediaries
    • Venture Capital Funds, regulated by the Portuguese Securities Market Commission (CMVM) or another equivalent European supervisory authority, with investment theses focused on technology transfer investments, venture capital, and growth capital (early-stage).
  • Financing by Private Investor / Financial Intermediary
    • Direct fund participation:
      • €4,000,000.00 to €20,000,000.00
    • Private participation:
      • At least 30% of the total capital subscribed in direct funds
  • Maximum Participation
    • 70%
  • Funders
    • IAPMEI
  • Funds Involved
    • National public participation: €50,000,000.00
      • via the Equity & Quasi-Equity Fund (EQ&QEF), financed by IAPMEI
      • I.P. – Agency for Competitiveness and Innovation, and managed by Banco Português de Fomento
    • European Investment Fund participation: €50,000,000.00

Objectives and characteristics

Venture Capital Funds (VCFs) focused on technology transfer investments, venture capital, and growth capital (early-stage).

Startups
SMEs
MidCaps
Beneficiaries’ Obligations
Growth potential, namely through processes of productive innovation, internationalization, and digital transformation.
How to Apply
At the Venture Capital funds level:
Contact BPF/EIF directly
At the company level:
Contact the fund management companies:
Amilcar Venture Partners
Indico Capital Partners
Faber Ventures
Vallis Capital

In general, funds invest during the first 5 years of a 10-year activity cycle.

Mainly equity and quasi-equity instruments.
Geographical Scope
At the level of direct funds:
Funds managed by teams preferably based in Portugal or in the European Union.
At the level of companies:
Preferably investments in Portugal.
Conditions Applicable to Final Beneficiaries
Must be an SME, a Midcap, or a technology transfer project
In the case of SMEs or Midcaps, they must be established or operating in Portugal
In the case of a technology transfer project, it must be based on intellectual property originating from or developed in research or academic institutions, incubators, or accelerators established or operating in Portugal
Cannot be considered an “undertaking in difficulty,” as defined in the European Commission communication “Guidelines on State aid for rescuing and restructuring non-financial undertakings in difficulty” No. 2014/C 249/01
At the time of the first EIF investment, the company cannot operate in any of the economic sectors referred to as “EIF Restricted Sectors” in the EIF restricted sectors guidelines

Private Investors / Financial Intermediaries
Venture Capital Funds, regulated by the Portuguese Securities Market Commission (CMVM) or another equivalent European supervisory authority, with investment theses focused on technology transfer investments, venture capital, and growth capital (early-stage).
Financing by Private Investor / Financial Intermediary
Direct fund participation:
€4,000,000.00 to €20,000,000.00
Private participation:
At least 30% of the total capital subscribed in direct funds
Maximum Participation
70%
Funders
IAPMEI
Funds Involved
National public participation: €50,000,000.00
via the Equity & Quasi-Equity Fund (EQ&QEF), financed by IAPMEI
I.P. – Agency for Competitiveness and Innovation, and managed by Banco Português de Fomento
European Investment Fund participation: €50,000,000.00