New investment instrument available in the Argentine Market

New investment instrument available in the Argentine Market

The Argentine Securities Commission (CNV) has recently approved the creation of Technological Innovation Closed-End Funds, an initiative that has been developed by the Buenos Aires Stock Exchange (BCBA) Market Development Department, along with the Science and Technology Ministry of the Argentine Nation.

By this new scheme, publicly offered closed-end investment funds will become listed on the BCBA for the financing of high-degree scientific and technological innovation projects. The Funds shall participate in the corporate stock by subscribing new shares, and will be entitled to sell out pursuant to common practices for this type of investment.

This new instrument aims to foster transparency and symmetric terms between the creator/researcher or entrepreneur and the investor, which shall be qualified investors according to the CNV standards; and will serve firms/projects regardless their size —SMEs or big companies— or source. The Technological Innovation Closed-End Fund is expected to provide significant chances for Argentine economic development at large.