Indico Blue Fund Aims to Support ‘Blue Economy’ Startups and SMEs Operating Out of Portugal
In a significant development for the climate tech industry, Lisbon-based venture capital firm Indico Capital Partners has launched a new fund focused on supporting startups and small and medium-sized enterprises (SMEs) working in the ‘Blue Economy’. Dubbed the Indico Blue Fund, this €50 million VC and growth equity fund aims to target companies operating out of Portugal that are developing technologies to assist the oceans.
Background on Indico Capital Partners
Founded by Stephan Morais, Ricardo Torgal, and Cristina Fonseca, Indico Capital Partners was established as the first private institutional early-stage venture capital fund in Portugal. With a strong focus on supporting innovative startups, the firm has invested over €33 million since 2019 in 28 companies that have collectively raised over €1.1 billion.
The Indico Blue Fund: A €50 Million Target
The Indico Blue Fund is designed to support ‘Blue Economy’ startups and SMEs operating out of Portugal, with a focus on developing technologies that will contribute positively towards the United Nations’ Sustainable Development Goals (SDGs), particularly SDG 14 aimed at ‘Life underwater’. With an initial €36 million raised, the fund is expected to reach its target of €50 million later this year.
Investment Focus and Verticals
The Indico Blue Fund will invest in startups and SMEs across various verticals, including:
- Sustainable Aquaculture and Fisheries: Developing technologies that promote sustainable aquaculture practices and improve fisheries management.
- Blue BioTech: Supporting the development of biotechnology solutions for ocean-related applications.
- Digital Ocean: Investing in digital technologies that enhance ocean monitoring, mapping, and exploration.
- Waste and Circular Economy: Focusing on innovations that reduce plastic waste and promote circular economy practices in the ocean sector.
- Green Shipping: Supporting the development of sustainable shipping solutions, such as electric or hybrid vessels.
Impact and Traction
With a strong track record of supporting innovative startups, Indico Capital Partners is well-positioned to drive impact through the Indico Blue Fund. By investing in companies that contribute positively towards the SDGs, the fund aims to scale up solutions coming out of Portugal’s highly developed maritime ecosystem.
Partnership with Google for Startups
As a partner of Google for Startups in Portugal, Indico Capital Partners has access to a range of resources and expertise that will support the success of Indico Blue Fund portfolio companies.
Conclusion
The launch of the Indico Blue Fund marks an exciting milestone for the climate tech industry, with a strong focus on supporting startups and SMEs operating out of Portugal. By investing in innovative technologies that contribute positively towards the SDGs, Indico Capital Partners is well-positioned to drive impact and support sustainable development goals.
Key Takeaways
- The Indico Blue Fund is a €50 million VC and growth equity fund focused on supporting ‘Blue Economy’ startups and SMEs operating out of Portugal.
- The fund aims to contribute positively towards the United Nations’ Sustainable Development Goals (SDGs), particularly SDG 14 aimed at ‘Life underwater’.
- Indico Capital Partners has invested over €33 million since 2019 in 28 companies that have collectively raised over €1.1 billion.
