Lisbon’s Índico Capital Partners, a venture capital firm with a knack for identifying Southern Europe’s brightest tech minds, has lit a significant spark in the European innovation scene. This news holds a special place in my heart as a female founder who has bootstrapped multiple ventures and deeply understands the landscape for women in tech and entrepreneurship. As someone deeply intertwined in the tech startup world, I see this as more than an investment fund, it’s a signal of trust in the potential of underrepresented regions and talent pools.
Let’s dive into the details.
What’s on the Table?
The newly launched Indico VC Fund III brings a funding target of €125 million, with €30 million already secured from the European Investment Fund (EIF). For early-stage startups in Portugal, Spain, and Italy, this fund opens up opportunities to access the critical backing needed to scale groundbreaking ideas. Specific sectors to benefit include deep tech, artificial intelligence, enterprise SaaS, and even niche markets like spacetech and oceantech.
As a startup founder myself, I appreciate when funds make an effort to support not just the flashy tech hubs but also regions often overlooked by global VCs. The focus on Southern Europe acknowledges the incredible engineering talent and innovation already at work there.
The Motivation and Strategy
The details are simple but promising. Indico plans to invest in startups from seed to Series B stages, with ticket sizes varying between €500K and €10 million. High-potential sectors drive the strategy, and global scaling ambitions are encouraged. This isn’t just about throwing money at ideas but about guiding bold projects into achieving the scalable impact they’re capable of.
This is especially noteworthy because Southern Europe has long seen innovative founders move to funding-rich hubs like Berlin or London to secure the resources needed to transform ideas into businesses. Indico’s efforts provide the stepping stones for these startups to grow without the pressure of uprooting their roots, both geographically and culturally.
What Can Female Entrepreneurs Learn Here?
While this news may feel distant to some, there are lessons that even I’ve practiced throughout my career. Here’s how you can relate it to your startup journey:
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Think Beyond Borders
Much like Indico’s approach, don’t confine your vision to what’s directly in front of you. While Portugal, Spain, and Italy may not have been considered innovation capitals a decade ago, bold steps like this fund are proving possibilities are everywhere. Have faith in untapped potential, especially your unique perspective as a female founder. -
Embrace Deep Tech
Women are still underrepresented in technical fields like AI and enterprise software. But as someone who transitioned into AI from a background in linguistics and education, I know that stepping into deep tech might just mean bridging disciplines rather than reinventing yourself entirely. Women bring fresh insights to these spaces, don’t underestimate your own. -
Be Strategic About Funding
As much as grants and accelerators have helped my ventures, having venture capital with a mentor relationship is invaluable. Even if you’re bootstrapping like I did, keep educating yourself about VCs, how to approach them, and what value they bring beyond money. This fund is a case study in how institutional backing is about trust, relationships, and shared goals.
Common Startup Mistakes to Avoid
One thing I’ve noticed, particularly for female entrepreneurs, is how fear of failure prevents action. Here are pitfalls to dodge if you aim to take advantage of funds like Indico’s or any other opportunities in tech:
- Underprepared Pitches: Trust me, investors aren’t just funding ideas, they back prepared, confident people. Practice your pitch until it feels part of who you are.
- Ignoring Scalability: Starting small is fine, but your vision should always show potential to grow. Think like Indico when they target global category winners from regional talent pools.
- Networking Hesitation: I struggled with this early on, but the reality is relationships power the startup world. You can have all the funding strategies and tech in place, but without connections, opportunities like Indico might feel out of reach.
Take a Step Toward Learning from Indico
Doing everything DIY is hard, I know because I lived through it. Yet initiatives like Indico VC Fund III remind us that we don’t always have to go it alone. Whether you're an early-stage founder or just building your first prototype, the lesson here is clear: investors are noticing places and people they typically overlooked.
If you’re based in Europe and frustrated by limited resources, take this as inspiration. Startups gaining access to funding today aren’t necessarily "starting" today, they’ve been building, just like you might be. Markets open up for prepared founders. That applies whether you're pitching to funds like Indico or setting the groundwork for upcoming opportunities.
Final Note
The launch of Indico’s €125 million fund shows that investors are widening their horizons, and so should you. Let it fuel your confidence that opportunity doesn’t only belong to certain regions or industries. It belongs to those who are ready to ask, innovate, and grow. The road is challenging, but when game-changing initiatives like these come around, I hope you stay ready to seize them.
FAQ
1. What is Índico Capital Partners' new fund and its investment goal?
Índico Capital Partners has launched Indico VC Fund III, aiming to raise €125 million to support startups across Southern Europe. Read about Indico VC Fund III
2. How much funding has the European Investment Fund (EIF) committed to this new fund?
The EIF has committed €30 million as an anchor investment in Indico VC Fund III. Learn about EIF's anchor investment
3. What sectors will Indico VC Fund III focus on?
The fund will focus on deep tech, artificial intelligence, enterprise SaaS, spacetech, and oceantech. Discover the targeted sectors
4. Which countries will benefit from Indico VC Fund III's investments?
Startups in Portugal, Spain, and Italy will be the primary beneficiaries of the fund. Explore how it impacts Southern Europe
5. At which funding stages will Indico VC Fund III invest?
The fund will invest in startups from seed to Series B stages. Explore the investment strategy
6. What investment range can startups expect from the fund?
Indico VC Fund III plans individual investments ranging from €500K to €10 million. Learn about the investment range
7. How has Indico Capital Partners performed in the past?
Indico has managed over €240 million across five funds and backed 53 companies that collectively raised €2.5 billion. Check out Indico's track record
8. Why is this fund significant for Southern Europe's tech ecosystem?
It targets underfunded regions, helping local talent compete globally without relocating to major tech hubs like London or Berlin. Understand the impact on Southern Europe
9. Who are the key figures behind this fund?
Stephan de Moraes, Managing General Partner at Indico, is leading the initiative, with backing from the European Investment Fund (EIF). Meet the team behind Indico
10. What lessons can female founders take from this fund?
Female founders can learn the importance of bridging disciplines, leveraging global opportunities, and preparing scalable pitches to attract capital. Discover actionable tips for female founders
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
