Portugal Tech to mobilise €250 million in investments

Generating €5 of investment for each euro of national funding is the mark of success that Portugal Tech II will have to overcome so that it can also receive the stamp of success. The new version of this investment programme, signed this Tuesday, aims to mobilise €250 million of investment until 2026 to boost technology transfer, in a mix of public and private capital.

Portugal Tech II aims to attract private and institutional capital for seed-stage venture capital investments with a broad focus on technology, including artificial intelligence, machine learning, fintech, cybersecurity, health technologies, among others.

Portugal aims to attract private and institutional capital for seed-stage venture capital investments with a broad focus on technology, including artificial intelligence, machine learning, fintech, cybersecurity, health technologies, among others.

The programme is aimed at Portuguese teams with experience in managing technology transfer and acceleration venture capital funds, but also at startup teams, provided they are able to meet the commitments made by this investment programme by raising capital from private and institutional investors.

The funding is insured for up to €50 million by the Recovery and Resilience Plan (RRP) channelled through Banco de Fomento and a further €50 million from the European Investment Fund (EIF), thus mobilising a total of 250 million with private investors.

This model is derived from its predecessor, Portugal Tech I, signed in 2018. It started with an allocation of €100 million. The then Development Financial Institution (now merged into Banco de Fomento) and the EIF initially allocated €50 million, with the national component being provided by IAPMEI. The remaining funds were supported by private and institutional investors.