Portugal Ventures launches Leiria Recuperar to support startups affected by Kristin

Portugal Ventures, the venture capital arm of Banco Português de Fomento, has just launched Call Leiria Recuperar to support startups in the central region whose projects have been impacted by the Kristin storm. Each company can receive up to €250,000. Applications are open until March 23rd.

“It is in the most demanding moments that investment becomes more decisive. With Call Leiria Recuperar, we want to ensure that companies with solid projects and growth ambitions have the necessary conditions to continue creating value, employment and competitiveness for the national economy”, said Marco Neves, president and CEO of Portugal Ventures, cited in a statement.

The initiative is from the Leiria Region Growth Fund — established in 2024 by Portugal Ventures in partnership with CIMRL, NERLEI CCI – Business Association of the Leiria Region / Chamber of Commerce and Industry, Startup Leiria, the Polytechnic of Leiria and private investors, with the aim of promoting access to venture capital financing for innovative companies and projects oriented towards export, green transition, digital transformation and strengthening productive potential — “I do not intend to replace the existing support lines that are intended for replacement parts for damage to infrastructure or the replacement of assets”, he added.

It is “a Venture Capital investment instrument aimed at financing young, innovative companies with high growth potential — typically startups — that, due to their risk profile, do not have easy access to traditional financing, such as bank credit, but that need to reinforce their liquidity, in order to allow them to resume their growth trajectories in a sustained manner”, he explained.

Source: Portugal Ventures.