Indico Capital Partners

Indico Capital Partners is a venture capital firm based in Lisbon, Portugal, dedicated to supporting tech and sustainable companies with a strong focus on those originating from Portugal, Spain, and Italy, aiming for global expansion. The firm strategically invests across a diverse range of technology sectors, including Software as a Service (SaaS), Artificial Intelligence (AI), Deeptech, Spacetech, Healthtech, Oceantech, Fintech, and Consumer. Additionally, Indico Capital Partners places significant emphasis on sustainability, particularly through its investments in ocean-related startups and Small and Medium-sized Enterprises (SMEs) that demonstrate the potential for positive impact on marine ecosystems and substantial global growth.

Founded in 2017, Indico Capital Partners quickly established itself as the first sizable independent VC firm in Portugal in 2018. The firm was co-founded by Stephan de Moraes, Ricardo Marques, and Cristina Fonseca. Its core mission is to empower exceptional Southern European talent by providing not only capital but also crucial knowledge and networks to facilitate their global expansion. This mission is driven by the understanding that entrepreneurs in Southern Europe often develop an international mindset from inception due to the limitations of their local markets.

Since 2019, Indico Capital Partners has made over 50 investments, with its portfolio companies collectively raising more than €2 billion in follow-on funding. Notable companies within their portfolio include Superhuman, Preply, Anchorage Digital, Remote, Sword Health, WSense, Lyzer, Ínclita Seaweed Solutions, Infraspeak, Conexa, Arborea, and Dealroom.co. The firm has also played a pivotal role in the growth of several leading technology businesses in Southern Europe, including four companies that have achieved unicorn status through its previous funds.

The firm's dedicated team, comprising 14 professionals, brings a rich blend of investment and entrepreneurial experience to the table. Key partners such as Stephan de Moraes (Managing General Partner), Ricardo Torgal (General Partner and CFO), and Cristina Fonseca (General Partner and co-founder of Talkdesk) have been instrumental in many of Portugal's successful tech ventures. Their collective expertise spans venture capital, mergers and acquisitions, legal affairs, and economics, enabling Indico Capital Partners to offer comprehensive, hands-on support in areas like talent acquisition, product roadmap development, sales and marketing strategies, M&A projects, and strategic financing.