Diana Ribeiro Duarte, Pedro Capitão Barbosa and Sofia Araújo Matias author the article “Conflicts of Interest in Related-Party Transactions of Venture Capital Funds: Brief Reflections”

In this article, Diana Ribeiro Duarte, Pedro Capitão Barbosa and Sofia Araújo Matias analyse the risks associated with related-party transactions in the context of Venture Capital Funds (FCR), highlighting the potential for conflicts of interest — particularly when FCRs are managed by the same management company or involve fund promoters.

They emphasise that the Asset Management Regime imposes on management companies the duty to prevent such conflicts and, when unavoidable, to mitigate them, ensuring fair treatment among FCRs and their participants. Mechanisms may include participant resolutions, opinions from independent advisory committees, or external valuations.

The absence of specific rules in the legal framework does not lessen the responsibility of management companies — rather, it reinforces the need for a culture of responsible governance and clear measures to ensure objectivity, transparency and alignment with fiduciary duties.

Read the full article on the FundsPeople website.