Lisbon now boasts a substantial venture capital fund, Indico Capital Partners. The fund has a capital commitment of €46 million, making it the first sizeable independent venture capital fund in the Portuguese capital. Indico Capital Partners is set to invest in Iberian start-ups, primarily at seed and early-stage levels. The fund’s focus areas include B2B SaaS, Artificial Intelligence, Fintech, and Cybersecurity.
Indico’s partners have a strong track record, having invested in companies such as Farfetch, Unbabel, Codacy, and Veniam. These investments have resulted in successful exits and IPOs. The fund aims to support Portuguese start-ups in their global expansion efforts, helping them to scale and reach international markets.
Indico’s launch comes at a time when Lisbon’s start-up scene is flourishing, with the city increasingly seen as a tech hub. The availability of this new fund will further boost the city’s start-up ecosystem, providing much-needed capital to innovative companies. The fund also plans to support the creation of 1,000 jobs over the next five years.
The European Investment Fund (EIF), the Portuguese Economic and Social Stabilisation Programme (PESSE), and 20 private investors have backed the fund, demonstrating their confidence in Portugal’s burgeoning tech scene. The EIF’s involvement is part of its commitment to support the development of the venture capital market across Europe.
Go to source article: https://techcrunch.com/2019/01/11/lisbon-finally-gets-a-substantial-vc-fund-in-the-shape-of-indico-capital-partners/