{"id":3128,"date":"2024-04-25T08:18:21","date_gmt":"2024-04-25T11:18:21","guid":{"rendered":"https:\/\/rucrlaw.com\/senado-criacao-nova-modalidade-contrato-investimento-startups\/"},"modified":"2024-04-25T08:22:04","modified_gmt":"2024-04-25T11:22:04","slug":"senate-approves-creation-of-new-type-of-contract-for-investment-in-startups","status":"publish","type":"post","link":"https:\/\/rucrlaw.com\/en\/senate-approves-creation-of-new-type-of-contract-for-investment-in-startups\/","title":{"rendered":"Senate approves creation of new type of contract for investment in startups"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text]Last week, the Senate approved a substitute to Complementary Law no. 252\/2023, which establishes the Convertible Investment Contract into Social Capital (CICC), aiming to stimulate the startup sector.<\/p>\n

In the approved proposal, the CICC becomes part of the list of contracts provided for in Article 5 of the Startup Legal Framework. This list enumerates contracts that allow investments in startups without being considered part of the company’s social capital.<\/p>\n

The new model is inspired by SAFE, a convertible participation contract widely adopted in the foreign market, especially in the Venture Capital sector.<\/p>\n

One of its differences from the convertible loan (the most used model in Brazil today) is that the CICC does not assume the nature of debt. The objective, in this type of contract, is for the amounts invested in startups to be converted into equity participation in the future.<\/p>\n

For some years, RUCR Law has already been using, in some investment operations it coordinates, its own contract based on SAFE. The RUCR Law model was developed and modulated by the firm to fully comply with Brazilian legislation, without losing the advantages provided by SAFE.<\/p>\n

The express provision of the CICC, as approved by the Senate, represents an advancement in legislation, which becomes more adherent to market practices and ensures greater legal security for investors and invested companies. In addition, it allows for easier negotiation between Brazilian startups and foreign investors.<\/p>\n

The text was approved in the Senate Plenary with 71 votes in favor and only one abstention. Now, the project moves on to voting in the Chamber of Deputies.[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_column_text]Last week, the Senate approved a substitute to Complementary Law no. 252\/2023, which establishes the Convertible Investment Contract into Social Capital (CICC), aiming to stimulate the startup sector. In the approved proposal, the CICC becomes part of the list of contracts provided for in Article 5 of the Startup Legal Framework. This list enumerates contracts […]<\/p>\n","protected":false},"author":1,"featured_media":3125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[105],"tags":[117,118,119],"class_list":["post-3128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights-en-2","tag-cicc-en","tag-safe-en","tag-startups-en"],"yoast_head":"\nSenate approves creation of new type of contract for investment in startups<\/title>\n<meta name=\"description\" content=\"The new model is inspired by SAFE, a convertible participation contract widely adopted in the foreign market, especially in the Venture Capital sector.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rucrlaw.com\/en\/senate-approves-creation-of-new-type-of-contract-for-investment-in-startups\/\" 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