Indico

Indico Capital Partners is a venture capital firm based in Lisbon, Portugal, investing in tech and sustainable companies based in or connected to Portugal, Spain and Italy. Its sectors include enterprise SaaS, artificial intelligence, deep tech, spacetech, healthtech, oceantech, fintech and consumer. Through a dedicated ocean strategy it also backs companies in the blue economy. It looks for founders with grit building a scalable solution to a large B2B or B2C problem; at pre-seed it expects a functional MVP and some customers or pilots, and later rounds need relevant metrics and customers. Indico invests mostly from pre-seed to Series A, with checks of €500K to €10M for tech companies and €100K to €5M for ocean-focused companies, and selectively backs Series B and C rounds. It is often the first investor in a company, and it launched its €125M Indico VC Fund III, anchored by the European Investment Fund, in November 2025. Founders can apply by emailing a deck as described on the firm's get-investment page.