Investors / Portugal / Indico Capital Partners
Indico Capital Partners
Venture capital · Portugal · Europe
Indico Capital Partners is an independent venture capital firm based in Portugal that invests in tech and sustainable companies. It backs Portuguese, Spanish and Italian related founders with capital and knowledge to support their global expansion, and also manages an ocean-related fund.
Invests inAI & Machine Learning
In its own wordsartificial intelligencedeep techsaasfintechhealthtechocean tech
Your fit with Indico Capital Partners
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsIndico Capital Partners lists 38 checked portfolio companies on its own site and is named in 7 funding rounds, 4 of them as lead. Its most frequent entry is Series B, 40% of the companies with a known first round. Its largest themes are AI & Machine Learning (27%), Industrial & Manufacturing (13%) and Enterprise Software (10%). 30% of its companies are based in United States. It invests most often alongside Shilling, Accel and General Catalyst.
Counts come from funding rounds that name Indico Capital Partners, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not Indico Capital Partners' whole history. Rounds on record name 7 companies; its own site lists 38. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundShow as a table
| Value | |
|---|---|
| Pre-seed | 0% |
| Seed | 20% |
| Series A | 0% |
| Series B | 40% |
| Growth | 40% |
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 1 | 0 |
| '22 | 0 | 0 |
| '23 | 0 | 0 |
| '24 | 0 | 0 |
| '25 | 1 | 1 |
| '26 | 5 | 3 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 76th | 38 companies |
| Recent activity | 89th | 6 rounds in 12 months |
| Early stage | 58th | 20% of entries at pre-seed or seed |
| Evidence | 83th | 13% of companies confirmed by a round |
| Sector focus | 42th | 27% in its largest sector |
| Reach | 95th | 10 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| AI & Machine Learning | 27% | 18% |
| Industrial & Manufacturing | 13% | 7% |
| Enterprise Software | 10% | 8% |
| Fintech | 8% | 12% |
| Real Estate & Construction | 6% | 3% |
| E-commerce & Marketplaces | 5% | 6% |
| Food & Agriculture | 5% | 3% |
| Healthcare & Biotech | 5% | 15% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Shilling | 9 |
| Accel | 3 |
| General Catalyst | 3 |
| Lince Capital | 3 |
| LocalGlobe | 3 |
| Acurio Ventures | 2 |
| Evli Growth Partners | 2 |
| Index Ventures | 2 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers38100%
- No longer answers00%
- Points to another company00%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherCompare Indico Capital Partners head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Funds
as stated on its siteRecent portfolio activity
when companies last raised with Indico Capital Partners| Date | Company | Stage |
|---|---|---|
| 22 Oct 2026 | Series B Led | |
| 20 Jul 2026 | Seed | |
| 7 Jul 2026 | Series C+ Led | |
| 24 Jun 2026 | Series B | |
| 29 Jan 2026 | Round Led | |
| 16 Dec 2025 | Debt Led | |
| 25 Feb 2021 | Series C+ |
Round details for Indico Capital Partners
Amounts, full round histories and every co-investor in Indico Capital Partners' rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
38 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| Anchorage Digital provides financial services and infrastructure for institutions to trade, hold, and manage digital assets. | FintechCrypto & Web3 | Feb 2021Series C+ | Page + round | |
| Arborea captures and converts carbon dioxide into net-zero protein and other highly functional ingredients without needing fertile land | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| Barkyn provides healthy food and a longevity plan for dogs | Food & Agriculture | Portfolio page | ||
| The company manufactures autonomous drones. | AI & Machine LearningAI & Machine Learning | Oct 2026Series B | Funding round | |
| BIZAY sells personalized products, including business cards, flyers, stickers, and clothing. | E-commerce & MarketplacesConsumer | Jul 2026Series C+ | Page + round | |
| The company provides an operating system for air and ocean freight, automating sales and procurement processes | Legal & ComplianceIndustrial & Manufacturing | Portfolio page | ||
| Conexa offers digital medical care and telemedicine services to companies and individuals. | Healthcare & Biotech | Portfolio page | ||
| Data4Deals helps generate actual value from banking transactions data using Artificial Intelligence to understand customer preferences and behaviour | FintechAI & Machine Learning | Portfolio page | ||
| Dealroom.co provides intelligence for tech ecosystems, including data on startups, founders, and funding | FintechAI & Machine Learning | Jan 2026Round | Page + round | |
| Exclusible is a gaming studio that helps brands and IPs launch experiences on Roblox. | GamingEnterprise Software | Portfolio page | ||
| Portfolio page | ||||
| Fever is a company that allows users to discover and book tickets for various events in their city. | Enterprise SoftwareEnterprise Software | Portfolio page | ||
| FOSSA Systems provides space-based solutions and infrastructure, including satellite IoT and satellite infrastructure products | Space & DefenseIndustrial & Manufacturing | Jun 2026Series B | Page + round | |
| The company provides free online games that can be played instantly without download. | Enterprise SoftwareGaming | Portfolio page | ||
| Gazelle Wind Power develops floating platform designs for offshore wind energy, | EducationIndustrial & Manufacturing | Portfolio page | ||
| Inclita Seaweed Solutions produces seaweed-based active ingredients for sustainable brands. | AI & Machine LearningHealthcare & Biotech | Portfolio page | ||
| Indie Campers rents out RVs and campervans | Legal & ComplianceReal Estate & Construction | Portfolio page | ||
| Infraspeak provides a collaborative facilities management platform | Real Estate & Construction | Portfolio page | ||
| Kencko Foods sells healthy fruit smoothies online and in retail stores. | Food & Agriculture | Portfolio page | ||
| Lyzer provides logistics services for retail and ecommerce, simplifying order management, picking, and delivery | E-commerce & MarketplacesIndustrial & Manufacturing | Portfolio page |
About this data
site last read 12 Nov 2026- Site
- indicocapital.com
- Last read
- 12 Nov 2026
- Watching since
- 5 Nov 2026
- Rounds since
- 25 Feb 2021
- Companies checked
- 38
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
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