FINOVA, within the scope of SAFPRI and along with COMPETE, designed two innovative financial instruments, as follows:

Financing Line to Informal Investors on Venture Capital – “Linha de Financiamento a Investidores Informais em Capital de Risco” (Business Angels or BA):

Financing Line to Operations by BA – “Linha de Financiamento a Operações desenvolvidas por BA”

These investors, traditionally engaged in the management of technology-based, small-scaled companies, in “Pre-seed”, “Seed” or “Early Stage” phase, shall contribute to allow supported SME to develop innovation, growth and internationalization strategies.

The involvement of FINOVA in these Financing Lines is financed through EU funds from the COMPETE/QREN/FEDER.

Financing Line to Operations by BA

Objectives and priorities

Promote the activity of venture capital investors (Business Angels)

Vehicles

Companies majority owned and managed by Business Angels (minimum of 3), which hold as investment policy to take stakes in the share capital of “Pre-seed”, “Seed” or “Early Stage” phase companies with 5 or less years (applicable to the first investment tranche). For this purpose, the concepts below shall have the following meaning:

Seed

Financing granted to study, assess and develop an initial concept.

Early Stages

Financing granted to companies which have not started marketing their products or services and are not yet generating profit for their product development and launch phase of marketing as well as funding of increases in production capacity, market development, the launching of a product or enhancement of working capital of companies in the early stages of their life cycle (Amendment of 12 March 2014 to be considered in relation to all applications including those already received as amending the wording of the Product Form attached to the Call for Application No. 01/SAFPRI/2013).

Final beneficiaries

Companies certified as SME (PME) by IAPMEI, with a “CAE” covered by SAFPRI (Industry, Energy, Construction, Trade, Tourism, Transportation / Logistics, Services), with head-office in the regions NUTS II North, Centre and Alentejo, and in compliance with the conditions set forth under Article 8 of the SAFPRI Regulation.

Eligible projects

Development of creative projects and start-ups.

Conditions of financing of FINOVA

Medium-term loans granted by FINOVA, with maximum values as follows:

1 million Euro, throughout the duration of the line, for Vehicles;

500,000 Euro per investment transaction in “ED”.

Investment policy

Based on the Business Plan and where applicable in other elements of analysis for each project and prospects for sustained profitability / viability, consistent with market conditions.

Total amount available for investment by Vehicles

15 million Euro.

ERDF (FEDER) contribution (via FINOVA)

10 million Euro.

Access the application form and apply for funding.

See our disclosure document and our line presentation.

Financing Line to Informal Investors on Venture Capital (Business Angels)

Objectives and priorities

Encourage Business Angels for a larger and more active role in supporting SME.

Vehicles

Companies majority owned and managed by Business Angels, which hold as investment policy to take stakes in the share capital of companies in final incorporation or launch phase, provided this latter has occurred in a maximum period of three years, for the roll-out of innovative projects.

Final beneficiaries

Companies certified as SME (PME) by IAPMEI, with a “CAE” covered by SAFPRI (Industry, Energy, Construction, Trade, Tourism, Transportation / Logistics, Services), with head-offices in the regions NUTS II North, Centre and Alentejo and complying with the conditions set forth under Article 8 of the SAFPRI Regulation.

Eligible projects

Development of creative projects and start-ups.

Conditions of financing of FINOVA

Medium-term loans, with a maximum value of 500,000 Euro.

Investment policy

Based on the Business Plan and where applicable in other elements of analysis for each project and prospects for sustained profitability / viability, consistent with market conditions.

Total amount available for investment by Vehicles

43.28 million Euro

ERDF (FEDER) contribution (via FINOVA)

27 million Euro

Share This Post: