Venture Capital and Private Equity are frequently criticized and vilified in Portugal. Yet the data tells a dramatically different story.
According to a comprehensive study conducted by ISCTE and presented at the APCRI conference, companies backed by VC and PE investment significantly outperform the Portuguese average across every key metric:
- They create many more jobs
- They offer better salaries
- They achieve higher growth rates
- They are more profitable
Despite representing just 0.06% of Portugal’s GDP – a mere 36% of the EU average, and nowhere near US levels – our industry generates a disproportionately positive impact on the economy. The numbers don’t lie.
Beyond these economic metrics, there’s another critical factor: entrepreneurship has become Portugal’s primary social elevator. This is a topic that deserves deeper exploration, which I’ll return to in a future post.
Are there valid criticisms? Of course. Is there room for improvement? Always.
But the conclusion is undeniable: Portugal needs more Venture Capital and Private Equity, not less.
Study: Impacto do Capital de Risco em Portugal 2025 (APCRI, PDF)