Portuguese private fund of 46 million will invest in ‘startups’

Portuguese venture capital company Indico Capital Partners today launched a fund of 46 million euros to invest in globally promising Iberian technology companies.

Indico Capital Partners “is the first independent, private national Venture Capital fund focused on investing in the initial stages of technology startups and headquartered in Lisbon, one of the top technology centres in Europe,” said Indico Capital Partners, in a statement.

The fund aims to “identify, invest and capitalize on the most promising Iberian startups, in particular those based in Portugal,” and will direct its investments to companies that work in areas such as SaaS (Software as a Service) B2B, Artificial Intelligence, Fintech and Cybersecurity, and also in Marketplaces and Digital B2C Platforms.

The 46 million euros come from investors from eight different countries, with the European Investment Fund (EIF) being the main investor of Indico.

In a press release received by Portugalinews, the FEI, which is the largest European institutional investor in this asset class, has joined more than 20 institutional and individual investors.

Among the investors are the Development Finance Institution (IFD) through Portugal Tech, Draper Esprit, one of the largest Venture Capital funds in the world, pension funds, education and research institutions, wealth management entities, entrepreneurs, managers and local and international technology entrepreneurs.

The fund will invest between 150 thousand and five million euros per company during its life span of 10 years.

The companies targeted by the fund’s portfolio aim to become global leaders in their category” and “Indico’s first investments have already been finalized and will be announced soon,” the venture capital firm says.

Indico’s management team consists of Stephan Morais (former Caixa Capital Executive Director), Ricardo Torgal (former investment manager at Caixa Capital) and Cristina Fonseca (co-founder and shareholder of Talkdesk).

It is a milestone for the Portuguese ecosystem, we will continue to support the most promising Portuguese technology startups, but now with a stable, larger, independent investment platform supported by a global and diversified investor base,” says Stephan Morais, Managing General Partner of Indico.

Ricardo Torgal, Indico’s General Partner, points out that “Venture Capital and startups are not a fashion, it is a professional activity that aims to build a diversified portfolio and be present when companies need help to grow and reach a new phase“.

It is in this initial phase that having support from experienced people and access to a global network can be the decisive factor for success,” adds Cristina Fonseca, Venture Partner of Indico.

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