“Finally some capital is starting to appear in Portugal.”

At the JE Advisory Conference, held in Lisbon on Wednesday, Tiago Roquet Giraldes, head of venture capital and private equity at IMGA, began by clarifying that he is in “buy-side” territory to say that “there has been tremendous progress. 10 years ago, “The economy is only picking up speed, with the help of tourism, but now with the PRR and Banco de Fomento programs, some capital is starting to come in. That capital is there and it will be applied.”

Thiago Roquet Giraldes revealed that there are investment banks and financial shops looking for opportunities, adding that “when this happens, a virtuous circle begins to emerge.”

“It is necessary to maintain financial stability at the level of private investors,” defended the IMGA director.

On the topic of how to raise capital, Thiago Roquet Giraldes pointed out that “across Europe and under the auspices of the European Commission itself, there are already collective investment organizations seeking capital from private investors to make investments in private equity and venture capital – investment funds.” Collective: In Portugal, we have not yet reached the stage of combining private and institutional capital to make these investments, but this will eventually happen here, as is already happening in Spain, Italy and France.

“My expectations are that the amounts managed by Banco de Fomento will finally come into effect in 2024 and 2025,” defended the manager.

“I currently have German investors living in Portugal who made three investments in the country last year, and I know another person who was in the United States and suddenly came to Portugal bringing with him his connection to his home market,” Thiago revealed. Rocket Geraldis.

Asked whether this policy could affect the market, the manager replied: “I don’t think so, as long as nothing is broken.”

“I support the change made to the non-accustomed resident system, in theory, but every time there is a change we have to know that the cost of adaptation is very high.”

The venture capital fund manager at IMGA expects that, similar to what is happening in the United States, venture capital funds Private equity Europeans are starting to look at decarbonisation.

Thiago Rocket Giraldes also said that financing Private equity Look at mergers and acquisitions taking into account potential post-transaction execution risks. “The Portuguese really like small holdings,” which is a risk factor in mergers.

Acquisitions and mergers are factors that generate efficiency, he said.

Thiago Rocket Giraldes believes that the role of investment funds is a role Private equity Suitable for companies and recognizes that in the case of IMGA the choice is to be a relevant shareholder in each company in which it invests, with an internationalization plan being mandatory.

The director revealed that the perception is that Private equity Today's presence among the younger segments of the population is very positive, even citing cases of recent graduates who were available to work in Private equity In Portugal, instead of going to large international investment banks.

Regarding generative artificial intelligence, he said that it is being used in all types of industries, including Private equity.

Since May 2015, IMGA has been wholly owned by the CIMD Group, one of the largest independent groups in the financial and energy markets of the Iberian Peninsula. The fund's chief manager is Iñigo Trincado Bofill.

The conference, organized by Jornal Economico under the title “Merger for Growth – The Role of Mergers and Acquisitions in the Competitiveness of the Portuguese Economy,” included a panel discussion entitled “Merger for Growth,” in which Duarte Schmidt, partner and co-coordinator of the Corporate Department in Portugal, participated. PLMJ M&A involved; Francisco Alvim, Head of Mergers and Acquisitions at Howden Portugal; João Nuno Palma, Vice President of Millenium BCP; and Thiago Roquette Giraldes, Head of Venture Capital and Private Equity at IMGA.

About the picture of the boxes in Portugal Private equityIn general, everyone considers that the perception has become increasingly positive, and even among politicians “there is a better perception and greater confidence in the role of this type of clients,” said Francisco Alvim in turn, who remembers that it was some of these funds that allowed the continuity of some Portuguese companies (such as Novobanco and Efacec).

Chief Howden said private equity has already been integrated into policy programs, specifically the AD program, which makes several references to venture capital and mergers.