In 2019 the team invested 17 million Euros in 9 companies creating more than 600 jobs
Lisbon and Madrid, 9th of March – Indico Capital Partners recently completed fundraising for it´s VC fund that aims to invest in early stage Portuguese and Spanish tech disruptors. With a total of 54 million euros, the fund has 46 investors from 12 countries with the vast majority of capital coming from asset managers, family offices, endowments, pension funds, and HNW individuals.
In its first year, the investment team analyzed roughly 1200 companies and invested in 9 companies that fulfilled the fund’s selection criteria. The fund’s investment team is led by partners Stephan Morais, Ricardo Torgal and Cristina Fonseca. In addition to the 17 million euros deployed by Indico, over 205 million was raised by the portfolio and more than 600 new jobs were created. The fund, therefore, saw a substantial increase in its value given the follow-on rounds in some of its companies.
The Lisbon based VC fund manager has also announced the opening of its office in Madrid which is headed up by an experienced venture capital investor in the Spanish capital. Indico decided to open in Madrid after a year of steady deal flow from Spanish entrepreneurs reaching out to the team.
Stephan Morais stated that “We are thankful to all the global investors, in particular to those that invested in venture capital for the first time, that backed our belief that Portuguese and Spanish tech companies with global aspirations can deliver good returns to investors”.