Sonae IM nets €57.8 million from FCR Armilar Venture Partners II fund

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Sonaecom, SGPS’s subsidiary Sonae Investment Management – Software and Technology (Sonae IM) as investor in the FCR Armilar Ventures Partners II fund, will receive €57 million net at the next dividend pay-out.

Sonae MI belongs to the group Sonaecom and is focused on investing in technology-based companies in areas such as Cybersecurity, telecommunications and retail as well as also having an asset management strategy for its portfolio aimed at consolidating its position as an international benchmark investor.

Armilar Venture Partners (formerly known as Espírito Santo Ventures), is an independent VC fund manager with over €200 million worth of assets, represented by worldwide companies with innovative products and services.

It is a deep-tech specialist investing in technologies that address challenges such as Globalisation, Demography and Environment with Information Technology at the core of its investments such as enterprise software, Internet of Things/Industry 4.0, AI/Machine Learning, Augmented and Virtual Reality, Computing and Cybersecurity and Blockchain.

Armilar Venture Partners is currently raising a €30 million to 60 million Technology Transfer Fund to invest in the most promising seed-stage ventures coming out of top European research institutions. The fund, that will have the European Investment Fund as a key partner and anchor investor, is expected to have its first closing with a minimum €30 million committed capital by the first half of 2018.