Indico Capital Partners, the Lisbon, Portugal based VC, has launched a €25 million ‘Opportunity Fund’, with the help of previous LPs, to invest up to an additional €5 million in the most promising four or five companies from its first fund. Indico says this would double the maximum investment per startup from €5-10 million.
Indico launched its first €54M fund at the beginning of 2019 (covered on TechCrunch here). In 2020 it launched a Partnership with Google for Startups and a related €12 million pre-seed fund for its early stage programme.
This year it also launched a 50 million euro ‘Blue Fund‘ around ocean innovation and sustainability (€100,000 to €5 million euros per company for expansion capital).
This takes its total raised to €141 million since early 2019 (€91 million for tech and €50 million for the blue economy).
So far it’s put €36 million euros into 29 companies, including Anchorage Digital, Remote and Tier.