The startup ecosystem within the Iberian Peninsula — the area encompassing Spain and Portugal — has been on a roll the final couple of years. The worth of Spanish startups surpassed €100 billion in 2023, in accordance with Dealroom information, with enterprise funding of €2.2 billion throughout some 850 rounds. In the meantime, Portugal has produced a slew of VC companies similar to Shilling, Indico, Armilar, Bynd and extra.
Lisbon-based enterprise agency Faber has grow to be the newest to double down on the area — it not too long ago launched its third fund, marking a primary shut of €31 million (about $33.9 million). The fund is anchored by the European Funding Fund (EIF) and has acquired main contributions from the NATO Innovation Fund and Portugal’s Caixa Capital, in addition to household places of work. It’s aiming to boost €60 million (about $64.2 million) in whole.
The brand new fund, titled Faber Tech Fund III, will goal pre-seed and seed-stage startups in deep tech, AI, robotics and biotech throughout Portugal, Spain and the Netherlands.
Alexandre Barbosa, managing companion at Faber, advised TechCrunch that the brand new fund is supposed to focus significantly on deep tech, AI/ML and data-related applied sciences. “The primary investments are lined up in photonic chips, analog chip design and artificial biology,” he stated.
The agency’s thesis, Barbosa stated, is backed by the truth that scientific and technical expertise continues to stream in the direction of Southern Europe, particularly on condition that Portugal and Spain are among the many prime 5 locations for trade packages.
“Sustaining Europe’s technological edge is essential to making sure the area’s safety and resilience,” Chris O’Connor, managing companion of the NATO Innovation Fund, stated in a press release.
Faber’s last fund raised about $24 million, and the agency additionally has a “blue” fund, Faber Blue Pioneers, by means of which it invests in ocean applied sciences. Its most notable portfolio corporations embrace Sword Well being, Smartex, Mitiga, Luminate Medical, Unbabel and Microharvest.
