Impulsar Portugal Credit Line: a new way to finance liquidity, acquisitions and growth
Four strands support different needs: liquidity, strategic investment, new businesses and technical guarantees. Structure remains decisive.
Insights
Perspectives on the economy, investment and strategy.
Analysis from Fenix Capital Partners and articles by its founders, published on the website and in leading media outlets, on the topics that shape business and investment decisions.
Grouped Debt Issues: capital markets can also serve SMEs
Basket Bonds aggregate issues by several SMEs and may create a new alternative to bank finance, with their own structure and risk analysis.
Productive Innovation under Portugal 2030: which investments can receive support?
New equipment is not innovation in itself. A project must demonstrate structural transformation, economic impact and financial coherence.
Indirect SIFIDE: what changed for SIFIDE Funds in 2026?
The benefit for new contributions has ended, but existing funds still have capital to deploy and new execution rules to meet.
Direct SIFIDE: turning R&D investment into a tax benefit
Many companies perform R&D without identifying it as such. A robust technical and financial file can turn that investment into a tax benefit.
ICE: how does the Business Capitalisation Incentive work?
ICE links a corporate income tax benefit to a net increase in equity. Its use should form part of a broader financial decision.
Business succession: when selling is also a strategic option
Succession is not limited to transferring a company to the next generation. Professional management, new investors or a sale can also preserve the value created.
Sell-side versus a direct approach: why a competitive process can create value
Receiving an offer does not mean it is the best offer available. A structured process can improve value, terms and negotiating power.
The real test of Portugal's recovery plan begins when the money runs out
A reflection on the economic legacy of Portugal's Recovery and Resilience Plan, and the need to turn financial delivery into productivity, scale and lasting investment.
Seven factors that can increase a company's valuation multiple
Two companies with the same EBITDA may justify very different valuations. Explore seven factors that influence the multiple.
Portugal 2030: the incentive should not determine the investment
An incentive should accelerate an investment that is consistent with the company's strategy. It should not be the reason the investment exists.
Refinance before you need to: debt is also a strategic decision
Negotiating before pressure arises makes it possible to align maturities, security and debt service with cash generation and business objectives.
How much is a company worth? The multiple is only the start of the conversation
The multiple is only an outcome. Profitability, growth, cash generation, risk and organisational quality determine the valuation.
How to prepare a company for sale: value starts being built before the process
A good company is not necessarily ready to be sold. Preparation, reliable information and reduced dependence on shareholders can create value before a transaction.
When the numbers change, does reality change?
Why interpreting indicators requires context, method and the ability to distinguish statistical variation from real economic transformation.
The small-scale trap
Business scale as an increasingly important condition for funding innovation, competing and delivering expansion strategies in demanding markets.
The economy of persistent uncertainty
How businesses and investors can make decisions when uncertainty becomes a structural feature of the economy.
The economics of artificial intelligence: between promise and real impact
A critical view of the gap between technological enthusiasm, measurable productivity and sustainable economic value creation.
Fenix Capital Insights
Analysis with practical relevance.
Original content from Fenix Capital Partners and perspectives from its founders on the economy, investment and strategic decisions.
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