Indico Capital creates €70 million fund to invest in Portuguese companies

Indico Capital Partners has announced a new fund focused on Portuguese companies.

The Indico R&D Fund is, as the name indicates, is an investment fund aimed at software companies in Portugal.

The new fund managed by Indico has funds allocated by the Banco Português de Fomento (a development bank) from its Capitalisation and Resilience Fund.

The Indico R&D Fund currently has €57.5 million of capital to invest subscribed by private Portuguese and international investors, and could stretch to €70 million according to Indico.

The Indico R&D Fund is focused in particular on those Portuguese technology companies, preferentially certified by the National Agency of Innovation which seek investment of up to €5 million per company.

The Indico R&D Fund is the fifth investment fund launched by Indico Capital Partners which brings the total of assets under management by Indico Capital to €200 million.