Portugal’s Índico Capital Partners has unveiled its latest venture capital initiative with a lofty fundraising target of €125 million. As a female founder who has navigated entrepreneurship with resilience, I find this development both exciting and personal, knowing how access to capital can shape the trajectory of impactful technology startups. Under the leadership of Stephan de Moraes, Índico VC Fund III focuses on early-stage companies in Portugal, Spain, and Italy, and includes an anchor investment from the European Investment Fund (EIF) totaling €30 million. Let’s dig deeper into what this fund means for European entrepreneurs, how it aligns with market trends, and actionable lessons for female founders like myself.
The Fund Breakdown
While the fund targets Southern Europe geographically, its approach aims to support companies ranging from Seed to Series B. This sits well with high-growth startups that traditionally struggle between initial funding rounds and scaling internationally. Sectors identified for investment include artificial intelligence, deep tech, spacetech, enterprise SaaS, and oceantech, areas designed both for rapid innovation and long-term societal impact. You can learn more about the specific sectors the fund supports directly on Indice Capital Partners.
Why It Matters for Entrepreneurs and Women Founders
Access to funding has always been more challenging for female-led ventures. As someone who bootstraps my own startups, I understand deeply that women entrepreneurs often face hurdles not tied to merit but perception. Indico Capital Partners doesn’t just offer money, it opens doors to mentorship and regional/global networks. This could be a game-changer for startups built by female founders within traditionally underrepresented areas like AI and deep-tech.
Numbers show this divide starkly. According to a Crunchbase study, only 2.3% of VC funding went to women-led startups globally as of 2022. For those of us who need to prove we’re worth funding, these challenges aren’t just statistics, they’ve been realities engrained in countless pitches.
Lessons: How Female Founders Can Leverage Funds Like Índico VC III
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Pitch as Partnerships: VC isn’t just about financial backing. Índico Capital Partners highlights the importance of mentorship and networking. For instance, they aim to connect startups with international capital markets. Leverage the expertise available within the fund to sharpen both your product offerings and revenue models. Build a partnership, not run a one-off check chase.
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Enter the Room Prepared: Many female founders underestimate the value of financial modeling during pitches. As part of Fe/male Switch, I’ve mentored many women on constructing better fundraising decks and using realistic projections while embedding sustainability metrics. Learn from my mistakes and get those spreadsheets polished.
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Understand Hidden Agendas: Many investment entities, like EIF, strategically allocate money to meet EU-wide sustainability or industry goals. If your business inherently supports elements like oceantech or AI, make this alignment clear. Check **European Investment Fund priorities for actionable data to appeal directly to investors like Indico.
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Storytelling Wins: Latina founders demonstrated in studies showcasing emotional narratives, rejection-proof storytelling. For women in tech, weaving emotional narratives keep heart-clear investors participating.
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FAQ
1. What is Índico Capital Partners' new fund, and how much is it aiming to raise?
Índico Capital Partners has launched its sixth fund, Índico VC Fund III, with a fundraising target of €125 million. Read the announcement on Tech.eu
2. Which regions are the primary focus for Índico VC Fund III investments?
The fund specifically focuses on startups in Portugal, Spain, and Italy, while also considering investments in companies from these countries operating internationally. Explore regional insights from Tech.eu
3. What are the key sectors targeted by the fund?
The fund focuses on enterprise SaaS, artificial intelligence, deep tech, spacetech, and oceantech. Dive deeper into sectors
4. Who is the anchor investor for Índico VC Fund III?
The European Investment Fund (EIF) is the leading anchor investor, contributing €30 million to the fund. Learn more about the EIF commitment
5. What investment stages does the fund cover?
The fund provides capital for companies at Seed to Series B stages. Find funding stage details in Startup Researcher
6. How does Índico support startups beyond financial investments?
In addition to funding, Índico Capital Partners provides mentorship, networking opportunities, and helps startups access international capital markets. Discover additional support
7. How is this fund addressing sustainability and ocean-related innovation?
The fund focuses on oceantech through initiatives like Portugal Blue, supporting ocean-related technology startups. Learn about Portugal Blue
8. What does the fund mean for female founders in Southern Europe?
While not explicitly dedicated to women-led startups, the fund presents opportunities for female entrepreneurs in underserved tech sectors such as AI and deep tech.
9. How can startups prepare to pitch effectively to venture capital firms like Índico Capital Partners?
Prepare solid financial models and align your business pitch with the fund's sustainability goals and tech sector priorities.
10. Who leads Índico Capital Partners, and how has the firm performed historically?
Stephan de Moraes leads the firm, which has invested €123 million in 53 companies since 2019, with portfolio companies raising €2.5 billion globally. Connect with Stephan de Moraes
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.
