Portuguese Prime Minister AntÃ³nio Costa today announced a new public fund of 200 million euros designed to attract the best investors to help Portuguese start-ups become more global. This fund has been set up to be innovative in different aspects:
- Venture Capital funds who wish to apply can be located in any place around the world
- Investors can apply to co-investment in deal-by-deal or to capture support for funds of funds
- Start-ups must be headquartered in Portugal
This fund was announced today, at the opening of the Venture Summit, which brings together over 600 leaders from some of the top international Venture Capital funds. Called 200M, the new Portuguese fund is part of a package of public investment that amounts up to 400 million euros and will reach the economy in the next two years.
Earlier this year the Government launched a strategy to help startups being created in Portugal to succeed. With booming entrepreneurial ecosystems developing in cities like Lisbon, Porto or Braga, Portuguese tech entrepreneurs have caught the attention of foreign investors, who have already helped high-growth startups like Farfetch, Feedzai, Talkdesk, Veniam, Uniplaces and Unbabel grow global.
More than 200 Portuguese start-ups are expected to showcase their tech solutions this year at the Web Summit.