Fundraising Fox

Indico Capital Partners

Fund of funds

Seed–Series A · 13 people tracked

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Investment thesis

Índico Capital backs entrepreneurs leveraging exceptional engineering talent from Southern Europe, particularly Portugal, Spain, and Italy, to build globally scalable companies. The firm focuses on high-ambition teams capable of execution across artificial intelligence, deep tech, enterprise SaaS, fintech, IoT/robotics, spacetech, and healthtech sectors. The firm also operates an ocean-focused fund supporting sustainable aquaculture, blue biotech, ocean renewable energy, and green shipping initiatives. The investment thesis emphasizes backing category winners with substantial addressable markets and supporting ambitious teams with capital and operational expertise to achieve international expansion.

Source: firm website, verified Jul 21, 2026.

Stage
Seed–Series A
Check
$250K – $10M
Instruments
Equity
Founded
2018
AUM
$112.2M
Tracked investments
19

Team · 13 people

from the firm's website
Stephan de Moraes· Managing General Partner

Experienced investment and executive leader with over 20 years in venture capital and CEO roles, including service as Executive Board Member of Caixa Capital. Harvard Business School MBA graduate.

André Almeida Santos· Partner

Investment professional with over 20 years of experience, including senior positions at African Development Bank where he served as Principal Country Economist, and fellowship at Harvard Kennedy School.

Cristina Fonseca· General Partner

Co-founder of Talkdesk and Cleverly with board experience at Galp. Recognized by Forbes 30 Under 30 for enterprise technology contributions.

Ricardo Torgal· General Partner and CFO

Investment professional with 20+ years of experience in venture capital and private equity, including previous roles at Caixa Capital and InterRisco (PE division of BPI Group).

Rui Rodrigues· Partner

Investment and M&A specialist with over 10 years of experience across venture capital, private equity, and corporate advisory, including prior roles at Caixa Capital and PwC Spain.

Sofia Egídio· Partner and General Counsel

Legal expert with 20+ years of experience, previously serving in compliance and legal roles at Fidelidade.

João Pedro Roque· Principal

Investment professional with 16+ years of experience spanning private equity, venture capital, and investment banking at Status Capital and ING Bank. Holds MBA from Nova and Católica, and advanced degrees from MIT and IST.

Rui Jerónimo· Principal

Investment professional with 14+ years of experience, including prior investment roles at Caixa Capital.

Gabriela Cordeiro· Compliance Officer

Operations and compliance professional with 15+ years of experience managing office operations and compliance functions, previously Finance and Administration Manager at EM LIVING.

Maria Amaral· Marketing, Communication and Events

Marketing and communications professional with 2+ years of experience in communication and multimedia.

Marta Fernandes· Financial Controller

Finance professional with 15+ years of experience in financial controlling and auditing, including prior leadership role in finance at a social impact organization.

Rafaela Martins· Executive Assistant and Officer Manager

Office operations professional with 7+ years of experience managing administrative functions, previously at Hertz.

Tomás Marchão Marques· Investment Analyst

Investment analyst with 2+ years of experience, previously at 415 Capital, holding MSc from TUM.

What they invest in

from 1 of 19 portfolio companies

B2B Marketplaces ×1Marketplaces ×1PropTech ×1Retail Tech ×1

HQs:Portugal×1

Investments · 19 tracked

founders shown can be your intro path
Anchorage
Arborea
Barkyn
Bizay
Cargo One
Conexa
Data4Deals
Dealroom
Eleos
Exclusible
FOSSA Systems
FRVR
Gazelle Wind Power
Hercules AI
Inclita Seaweed Solutions
Indie Campers
Infraspeak
InnovationCast
Reliverelive.ptin

Relive is a real estate brokerage that helps customers rent, buy, and sell properties through agents who combine local expertise with technology and social media marketing. The company operates across major U.S. cities and targets a technology-forward generation of homebuyers and renters.

B2B MarketplacesMarketplacesPropTechRetail TechOurem, PT

Frequently asked questions

What stage does Indico Capital Partners invest at?
Indico Capital Partners invests at the Seed, Series A stages.
What is Indico Capital Partners's typical check size?
Indico Capital Partners typically writes checks of $250K – $10M.
What sectors does Indico Capital Partners focus on?
Indico Capital Partners focuses on AI & Machine Learning, Biotech, Circular Economy, Consumer, Deep Tech, Fintech, Healthtech, IoT, Robotics, SaaS, Space Tech.

Images

Indico Capital Partners photo

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