#JunckerPlan – €190 million for innovative and social Portuguese businesses

| November 9, 2018

In the context of the 2018 Web Summit in Lisbon and in presence of Commissioner Moedas, the European Investment Bank Group signed two agreements, together worth €190 million, for the launch of two equity funds managed by the firms Vallis Capital Partners and Mustard Seed MAZE.

Both funds benefit from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europethe Juncker Plan. Vallis Capital Partners launched a €150m fund targeting innovative Portuguese small and medium businesses over the next five years and Mustard Seed Maze launched a fund worth €40m to invest in social enterprises in the country. Research, Science and Innovation Commissioner Carlos Moedas (pictured) said: “These two Juncker Plan deals worth €190m will give Portuguese small and medium businesses the boost they need to express their talents and turn their ideas into concrete projects. Fresh funding will be available for innovative projects of high value added and for social enterprises, which are two sectors that are key to the future of Europe’s economy. The Web Summit is probably the most symbolic place where such deals can be formalized.”

A press release is available here. In October 2018, the Juncker Plan had already mobilised €344.4 billion in Europe, including over €7bn in Portugal, with 793,000 small and medium businesses set to benefit from improved access to finance.

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Category: A Frontpage, EU, European Commission, Portugal