- Portuguese VC firm Shilling launches €50M Opportunity Fund to support growth-stage startups
- Shilling’s Opportunity Fund targets early-stage startups with investments of up to €5 million for Series A and beyond
- The fund aims to bridge the gap in funding for growth-stage startups in Portugal
- Shilling’s focus on supporting tech founders early has been key to its growth as a firm
- Other Portuguese VC firms, such as Indico Capital Partners, have also scaled up in recent years
Portuguese VC Fund Shilling Launches €50M Opportunity Fund
Portuguese VC firm Shilling has recently announced the launch of a new €50 million opportunity fund aimed at backing growth-stage startups. This move signifies Portugal’s emergence as a key player in Europe’s tech ecosystem, showcasing its potential for innovation and growth in the startup and investment landscape.
Shilling’s Opportunity Fund: Filling the Gap for Growth-Stage Startups
Despite Portugal’s vibrant startup ecosystem, the country has historically had one of the lowest VC investment-to-GDP ratios in Europe. This has created a funding gap, particularly for growth-stage startups looking to scale their operations. Shilling’s Opportunity Fund is positioned to bridge this gap by providing crucial support to startups beyond the early stages.
The fund, which targets growth-stage startups in its own portfolio and elsewhere, has already raised over 90% of its target amount at the first close. Notably, the fund has already made investments in Shilling’s portfolio companies, demonstrating its commitment to nurturing and supporting the growth of promising startups.
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According to Ricardo Jacinto, managing partner at Shilling, the focus of the Opportunity Fund is to follow startups throughout their entire journey, extending support beyond the initial stages of development. This approach aligns with the firm’s vision of not limiting itself to only portfolio companies but actively seeking out new and promising opportunities in the market.
Shilling’s Growth Strategy and Industry Impact
Hugo Gonçalves Pereira, a founding partner at Shilling, highlighted that the new fund will play a crucial role in supporting growth-stage companies as they navigate the post-pandemic landscape and scale their operations. By providing investments of up to €5 million for Series A and beyond, the Opportunity Fund aims to empower startups to achieve their growth objectives and expand their market presence.
Shilling’s proactive approach to backing tech founders early on has been instrumental in the firm’s growth and success. In addition to the Opportunity Fund, the firm launched a €55 million early-stage fund called Shilling Founders Fund in 2021. This fund, supported by successful tech founders and European VC firm Atomico, further solidifies Shilling’s position as a key player in the Portuguese investment landscape.
The founding partners of Shilling, including individuals with diverse backgrounds in real estate, technology, and entrepreneurship, have been instrumental in shaping the firm’s strategy and vision. By leveraging their expertise and networks, Shilling has been able to identify and support promising startups, contributing to the overall growth of the tech ecosystem in Portugal.
Portugal’s Growing Venture Capital Landscape
Shilling is not the only venture firm in Portugal that has scaled up its operations in recent years. In 2022, Lisbon-based venture firm Indico Capital Partners launched a €50 million climate tech fund, signaling the increasing interest and investment opportunities in the country’s tech sector. Other prominent VC firms in Portugal, such as Faber, Armilar Venture Partners, Tocha, and Portugal Ventures, are also actively supporting the growth of startups and driving innovation in various industries.
The launch of Shilling’s Opportunity Fund represents a significant milestone in Portugal’s venture capital landscape, providing much-needed support for growth-stage startups and further solidifying the country’s position as a hub for innovation and entrepreneurship. With the backing of successful founders, institutional investors, and industry partners, Portuguese VC firms are poised to play a key role in shaping the future of the European tech ecosystem.
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