CICC: Senate Approves New Investment Contract Model for Startups

The Senate unanimously approved complementary bill PLP 252/2023, creating the Convertible Investment Contract into Share Capital (CICC) for startup investments. Based on the international Simple Agreement for Future Equity (SAFE) model, CICC allows investments to be converted into future equity participation.

Authored by Senator Carlos Portinho (PL-RJ), the bill now moves to the Chamber of Deputies for review.

Read our partner Leonardo Ugatti's analysis of potential improvements to the approved contract model on startups.com