Portugal Ventures invested €12.8 million in 70 companies last year

  • ECO News
  • 6 January 2022

The venture capital arm of Banco Português de Fomento registered the entry of 48 companies and the exit of 17 from its portfolio last year.

Portugal Ventures (PV) has invested €12.8 million in the capitalisation of a total of 70 Portuguese companies in 2021, 48 of which entered its portfolio last year.

Besides these new companies, in which it invested €8.3 million, the venture capital arm of Banco Português de Fomento also conducted 22 follow-on operations with €4.5 million in capital reinforcement in the companies already in its portfolio.

PV’s balance sheet also included six co-investment operations for a total amount of €13 million, including the Series A financing round of Jscrambler and Peekmed, and the exit of 17 companies from its portfolio.

“In a year where the only certainty was uncertainty, PV actively maintained its focus: capitalising on Portuguese companies that need financial breath to grow new global business opportunities. In 2022, we will continue to work side by side with the companies in our portfolio, with their teams, our partners, in order to contribute to the economy’s strengthening,” the board of directors stressed.

In a statement sent to the press this Thursday, PV attests that “the entrepreneurial ecosystem is alive and kicking”, giving as proof of this vivacity the 297 applications it received throughout last year, with a requested investment amount of €74.9 million.

Those applications received were submitted mostly by men between the ages of 31 and 40, although PV notes that “the ecosystem is changing, with a significant growth of entrepreneurs in the 41 to 50 age group”. They mainly submitted teams with less than six members and three years of activity, with no turnover or with turnover below €50,000.