The Investment Plan for Europe, or Juncker Plan, is backing a €25 million investment from the European Investment Bank (EIB) Group to a Venture Capital Fund launched by Portuguese firm Indico Capital Partners. The fund aims to identify and nurture the most promising early stage start-ups, particularly targeting digital technologies and artificial intelligence...
The fund is also supported by InnovFin, the EU programme for innovation in small and medium businesses funded by Horizon 2020. Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “I welcome this new Venture Capital Fund supported by the Investment Plan. It will give Portuguese start-ups the financing they need to turn their ideas into concrete projects, grow, and create jobs. Portugal is the third biggest beneficiary of the Investment Plan, with already almost 12,000 businesses set to have improved access to finance thanks to the European Fund for Strategic Investments." A press release is available here. As of December 2018, the European Fund for Strategic Investments (EFSI), at the heart of the Juncker Plan, had already mobilised €371.2 billion of additional investments, including more than €8.8 billion in Portugal, with 856,000 small and medium businesses set to benefit from improved access to finance More information on the latest results of the Juncker Plan is available in this factsheet. 