Indico Blue Fund to invest €36M

The venture capital fund Indico Blue Fund which is aimed at exporting SMEs has €36 million to invest in the Portuguese emerging Blue Economy.

Indico Blue Fund, which was set up by Indico Capital Partners cold allocate between €100,000 and €5 million to national startups.
THE 100% private fund, which was presented today, is “geared towards exporting startups and SMEs”.
“With €50 million, of which 336 million has been raised in just four months of subscription, the Indico Blue Fund will be the first fund in Portugal completely dedicated to the economy of the sea”, states Indico in a communiqué sent to Lusa.
According to a presentation brochure “the goal of the climate action fund is focused on growing blue economy companies which are in an embryonic stage, and whose goal is mainly but not exclusively in investment in companies that are linked to the United Nations Objective of Sustainable Marine Life.
The goal is to cover “the entire lifecycle of companies”, with investment in sectors such as ‘Ocean digital’, sustainable fishing, coastal tourism, energy, shipbuilding and repair, services, sustainable aquaculture, blue biotech, maritime operations, residuals, and the circular economy.
The Indico Blue Fund, states the company “is not just geared to innovation, exports and technological development, but also to sustainability, seeking to measure the impact of companies on the oceans and develop solutions to mitigate the effects of climate change”.
The presentation on 23 January involved Ocean Forum (Fórum Ocean), a blue economy cluster of which Indico Capital Partners is a member.
Indico also is partnering with the ‘Portuguese blue ecosystem’ which in addition to the Ocean Forum includes university institutions like Porto and Aveiro universities, the Lisbon Technical Institute, and Leiria Polytechnic, among other entities and academic and research institutions.