Indico Capital Partners has unveiled its new €125 million Indico VC Fund III, aimed at accelerating early-stage SaaS, AI, Deep Tech, and space and ocean tech startups across Portugal, Spain, and Italy. The fund begins with a €30 million cornerstone investment from the European Investment Fund (EIF), reaffirming EIF’s long-standing support for Indico’s strategy.
Indico VC Fund III will back Seed to Series B companies developing enterprise software, advanced AI solutions, and frontier technologies, while also targeting founders from the Southern European diaspora in the US, UK, and beyond.
Stephan de Moraes, President of Indico, describes the new fund as a validation of Indico’s track record and its focus on Deep Tech and software innovation: “We are strategically positioned to identify and scale the best companies in the region and place them on the global stage.” EIF President Marjut Falkstedt added that the fund will channel investment toward high-impact innovation in AI, advanced tech, and the blue economy.
Indico currently manages over €240 million across five funds and has backed 53 companies—four of which became unicorns—collectively raising more than €2.5 billion. The EIF investment aligns with the EIB Group’s 2024–2027 roadmap for digitalization and technological innovation and is supported by InvestEU and Portugal Blue, which aims to strengthen the national blue economy through equity financing.
Related News