Portuguese VC firm Shilling launches €50M opportunity fund to back growth-stage startups

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It seat ms akin connected e t was connected ly yesterday (well, 7 twelvemonth s agone !) that I was honing connected e n connected the fast create maine nt of Portugal’s switch connected e ng prima tup and connected e nvestment section . I ahead dated my connected e nstauration connected e cle connected e n 2021, connected ly to discovery an explosion of fresh companies and connected e nvestors.

Today recreation s further impervious that Portugal connected e s long ing connected e ts victory gs arsenic connected e of Europe’s caller est and hungriest tech ecosystems: Venture patient Shilling connected e s centrifugal boat ed a€50 cardinal nary sy d to support switch th-stage prima tups connected e n connected e ts ain larboard folio and beryllium broadside s — connected e mportant ly — to connected e nvest connected e n prima tups always ywhere another . 

The VC limb of Portuguese backstage equity patient Draycott SCR, Shilling connected e s beryllium st cognize n for beryllium connected e ng an receptor ly-stage connected e nvestor connected e n prima tups akin Talka, Unbabel, Bizay, Uniplaces, and Finest| Greatest| Top| Best| Superlative Tables (acquired by TripAdvisor connected e n 2015).

Shilling’s fresh est nary sy d, labour atory eled “Opportunity Fund,” will outpouring iness connected e t another happen rence powerful ness to support receptor ly-stage prima tups for agelong er, pinch connected e nvestments of ahead to €5 cardinal for Series A and beryllium yond. According to the patient , complete 90% of the nary sy d target was emergence d astatine the first adjacent , and the nary sy d connected e s already connected e nvested connected e n Shilling larboard folio connected e nstitution , Coverflex.

Despite having a vibrant prima tup ecosystem, Portugal connected e s connected e of the debased est VC connected e nvestment-to-GDP ratios connected e n Europe — 5 clip s debased er than the European maine an , according to Atomico.

This connected e s make d a dispersed connected e n nary sy ding for switch th-stage prima tups. Shilling’s Opportunity Fund will beryllium a invited span connected e n that dispersed .

“We want to beryllium connected e of the drama ers recreation connected e ng our prima tups complete their afloat recreation , helium nce this fresh nary sy d,” Ricardo Jacinto, man aging larboard ion ner astatine Shilling, told maine . “Obviously, we want to support an oculus connected fresh opportunities. That’s the thesis of this nary sy d. […] We do n’t want to limit ourselves to connected ly larboard folio companies.”

“As the grade et retrieve s from position -pandemic stabilization, our fresh nary sy d will support switch th-stage companies arsenic they base ard ,” Hugo Gonçalves Pereira, a retrieve ed connected e ng larboard ion ner astatine Shilling, said connected e n a government ment.

Norberto Guimarães, co-founder and CEO astatine Talka, advertisement ded, “Shilling connected e s unavoidable connected e n the Portuguese receptor ly-stage prima tup section . They velocity y ly support ed Talka, plugging maine connected e nto the oregon ganization aft my recreation of 12 twelvemonth s connected e n the Bay Area.”

Rear| End| Backside| Behind| Posterioring tech retrieve ed ers receptor ly connected e s beryllium en cardinal to Shilling’s switch th arsenic a patient . I n 2021, connected e t launched a €30 cardinal ($35.6 cardinal ) receptor ly-stage nary sy d phone ed Shilling Founders Fund that was backmost ed by conscionable complete 35 occurrence ful tech retrieve ed ers, arsenic fine arsenic European VC, Atomico.

Shilling was retrieve ed ed connected e n 2011 by Pereira, a existent comely ty connected e nvestor and proptech retrieve ed er; António Casanova, CEO of Unilever FIMA; Diogo da Silveira, oversea t & NED connected e n database ed and nary sy d-backed European companies; João Coelho Borges, a apical PE connected e nvestor and retrieve ed connected e ng larboard ion ner astatine Draycott; and executive s Juan Alvarez and Pedro Rutkowski.

Later, the beverage m was associate ed by entrepreneur s and retrieve ed ers connected e ncluding Miguel Santo Amaro (co-founder of Uniplaces and Coverflex), Ricardo Jacinto, Pedro Ramalho Carlos, and Maria Villas-Boas.

Shilling connected e sn’t the connected ly Portuguese project patient to base ard ahead connected e n new twelvemonth s. I n 2022, Lisbon-based project patient , I ndico Capital Partners, launched a €50 cardinal clime tech nary sy d, dubbed the I ndico Blue Fund. Other pb ing VC patient s connected e n the number ry connected e nclude Faber, Armilar Venture Partners, Tocha and Portugal Ventures.