“There will be €220 million available in the economy, including venture capital and private co-investment of Venture Capital Funds,” the Government said in a statement.

According to the statement, total demand, in the various programmes, was €196 million, or double the available funding of €98 million.

“The high demand recorded, one again confirms there is confidence to invest in Portugal,” the statement said, adding that it would “assess the possibility” of opening up another tender for venture capital co-financing.