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Lisbon's Indico VC launches €25M Opportunity Fund for its scale-ups, taking it to €141M total

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 €54 million 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 Blue Fund around ocean innovation and sustainability (€100,000 to €5 million 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 into 29 companies, including Anchorage Digital, Remote and Tier.