Critical group (Critical Software) announced that it will create Critical Ventures I, a fund of venture capital for investments in technology-based companies in early stages of development.
The fund will receive, in addition to the capital from the Critical group, capital of other national and international financial investors. This fund will significantly enhance the group's ability to finance projects for technology commercialization in the global marketplace resulting from the R&D group (spin-off), or R&D "pool" from other companies or partner institutions (spin-in). The Critical Ventures I takes the form of an Enterprise Capital Fund, and will actively support new development opportunities and technology solutions for high value added solutions.
The investment fund will be endowed with 10 million euros intended to invest in early-stage operations, ie, as Seed Capital to assist start-ups - funded enterprises being established or whose operation has been started very recently and whose sales volume is still small, but with technological solutions with high potential. Occasionally, the fund may invest in operations of Late Venture, ie companies and products that are more mature, for example if they wish to launch new projects / products or embrace new markets.
"The Portuguese - and even the European - venture capital market, in the area of 'early-stage' is very limited, which limits the agility and flexibility needed to harness effectively the potential of new technological solutions that our country can produce, "notes Gonçalo Quadros, Director of Critical SGPS, adding that" there is incredible talent that needs to have a proper context for getting itself in line with the economic development model that we want for Portugal." it's exactly those talents and ideas of young entrepreneurs - beginning from within our own company - that we want to encourage and support".
The ultimate goal is to combine expertise, technology and market experience of the Critical group to the ability of financial partners in this corporate fund, and thereby create the right ecosystem for the production of smart-money. It was noted that investors in the fund will always have right of first refusal to finance the earlier phases of development of enterprises supported, a feature that greatly increases the attractiveness of the fund to investors.
Technological innovation as an agent in the introduction of competitive advantages, is a pillar of the Critical group. The establishment of the Critical Ventures is "another step in the development strategy of the Group, is to allow new talent to have the opportunity to launch new businesses and, within three to five years, prove they have what it takes to succeed in the market" , notes Diamantino Costa, Director of Critical Ventures.
