Connect with us

EU

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

SHARE:

Published

8 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

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 Europe – the 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.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending