EIF invests in Portuguese VC funds Armilar, Faber and 33N

The European Investment Fund (EIF) will allocate €90 million to three Portuguese venture capital funds, with a view to accelerating the growth of startups in areas such as artificial intelligence and cybersecurity, among others linked to deep tech.

Armilar Venture Partners IV, Faber Tech III and 33N Cybersecurity and Infrastructure Software Fund were awarded the financial support.

With the investment, EIF CEO Marjut Falkstedt announced the mobilisation of more than €400 million for the European venture capital ecosystem,” she announced at a press conference at the Web Summit in Lisbon on Tuesday.

Startups in the start-up phase within the European market will benefit from the investment.

“Venture capital is not a national business, it is a European business,” said Marjut Falkstedt, noting that the 33N fund, from Carlos Alberto Silva and Carlos Moreira da Silva, supported for the first time by the EIF, also has the support of a Luxembourg fund.

In a statement, the EIF reveals that there are already “operations in progress”. “The new funding underlines international confidence in Portugal as a technology platform, while demonstrating the key role of the EIF in promoting strategic investments in the technology sector in Europe,” She adds.
This EIF operation is supported by the European Commission’s InvestEU programme, which also aims to mobilise a further €372Bn at least in additional investments by 2027. The EIF’s investment is supported by InvestEU’s €26.2Bn guarantee, António Vicente, deputy leader of the European Commission Representation in Portugal, also explained at the Web Summit.