New Legal Framework of Venture Capital

The new Legal Framework of Venture Capital (NLFVC) was published on 4 March. The NLFVC was approved by Law no. 18/2015 and partially implements Directive 2011/61/EU of the European Parliament and of the Council, of 8 June 2011, and Directive 2013/14/EU of the European Parliament and of the Council, of 21 May 2013, thus ensuring that, in the Portuguese legal system, Regulations (EU) no. 345/2013 and 346/2013, of the European Parliament and of the Council, of 17 April, are complied with. The NLFVC also amends the legal framework of the activity of investment in venture capital, repealing Decree-Law no. 375/2007, of 8 November.