Indico Capital Partners
Venture capitalLisbon · Seed–Growth · 14 people tracked
Investment thesis
Índico backs Iberian and Southern European entrepreneurs going from local to global, leveraging strong regional engineering talent. It writes checks from €250k to €10M across AI, deep tech, SaaS, fintech, IoT/robotics, spacetech, healthtech and consumer sectors. A separate ocean-focused fund targets tech, biotech, hardware startups and industrial SMEs across coastal tourism, sustainable aquaculture, blue biotech, fisheries, ocean renewable energy, maritime operations, green shipping and circular economy, investing up to €5M per SME for expansion capital. The firm looks for ambitious teams with exceptional execution addressing large global markets capable of producing category-winning companies.
Source: firm website, verified Aug 3, 2026.
Team · 14 people
from the firm's website & public directories
What they invest in
from 7 of 20 portfolio companiesAI & Machine Learning ×3Enterprise Software ×3Marketplaces ×2SaaS ×2Advanced Manufacturing ×1B2B Marketplaces ×1Cleantech ×1Climate Tech ×1
HQs:Portugal×2United States×1
Investments · 20 tracked
founders shown can be your intro pathBizay is an online printing platform where businesses order customized marketing and promotional products including business cards, flyers, stickers, banners, packaging, branded clothing, and office supplies.
Advanced ManufacturingE-commerceMarketplaces
Exclusible is a gaming studio that builds branded games, digital items, and in-game activations on the Roblox platform.
GamingMarketing Tech
Gazelle develops a modular floating offshore wind platform with a dynamic mooring system designed to be lighter, smaller, and easier to deploy for deep-water wind energy generation.
CleantechClimate TechEnergyViana do Castelo, PT
Hercules develops enterprise-grade AI workers to automate back-office operational tasks and reduce the knowledge worker deficit.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaS
Alex Babin(Chief Executive Officer)Beverley Chadwick(Chief Financial Officer)Trevor Bell(Chief Customer Officer)Victoria Vendolin(Head of People Operations)Harutyun Baghdasaryan(VP of Engineering)Markus Sobkowski(Head of AI)
Unbabel provides AI-powered machine translation software combined with human editors to enable multilingual customer support and localization for businesses globally.
AI & Machine LearningEnterprise SoftwareSaaSSan Francisco, US
Vasco Pedro(Founder/CEO)inJoão Graça(Founder/CTO)inBruno Prezado Silva(Founder/Lead Designer)inHugo Silva(Founder/Developer)Phil Shawe(President and CEO)Jin Lee(Co-CEO)
Frequently asked questions
- What stage does Indico Capital Partners invest at?
- Indico Capital Partners invests at the Seed, Series A, Growth 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, Climate Tech, Consumer, Deep Tech, Energy, Enterprise Software, Fintech, Hardware, Healthtech, Impact & Social Good, IoT, Robotics, SaaS, Space Tech.
- Where is Indico Capital Partners located?
- Indico Capital Partners is headquartered in Lisbon, PT.
- Does Indico Capital Partners lead rounds?
- Yes, Indico Capital Partners leads investment rounds.
Media · Podcasts & interviews
featuring the teamStephan De Moraes from Indico Capital Partners on investing in startups in Southern Europe
Life Self Mastery · Stephan de Moraes
Invest Europe 40th Anniversary Interview: Cristina Fonseca, Indico Capital Partners
Invest Europe · Cristina Fonseca
Cristina Fonseca, Indico Capital Partners on the opportunities in AI and automisation
SuperReturnTV · Cristina Fonseca
Cristina Fonseca, VC at Indico Capital Partners, co-founder of Talkdesk on: How Product Development has Changed in the last 10 years | I was so inspired by my guest today, Cristina Fonseca. Cristina was one of the founders of Talkdesk, a cloud-based help desk software that became... | By Anita Moort
Cristina Fonseca · facebook.com
The Truth About Valuation Obsession & Picking the Right Board Members | André Penha | The Red Chair
Indico Capital Partners
The Only Two Traits a Founder Truly Needs. Rebuilding Caparica | Gregory Bernard I The Red Chair
Indico Capital Partners
Images
Co-investors · 18
Shilling is a venture capital investor that offers founders more than capital, providing operational experience, market insights, connections, mentorship and advice while giving companies room to operate independently.
Streamlined Ventures is an early-stage venture firm that partners with founders and invests at the seed stage to help build large-scale companies.
Trajectory Ventures invests in and partners with innovative founders and companies driving digital transformation, while also providing advisory, growth marketing, financing strategy, and M&A support.
HIRO Capital is a venture capital firm investing at the intersection of technology, games, AI and spatial computing.
General Catalyst is a venture capital and investment firm that backs founders across industries, with a strong focus on AI-driven transformation, fintech, healthcare, and other sectors.
Khosla Ventures is a venture capital firm known for backing bold, contrarian bets in world-class teams that can reshape entire industries.
Alumni Ventures (AV) is a venture firm that gives accredited individual investors access to professionally managed, diversified venture portfolios by co-investing alongside leading lead VC firms. It offers annual funds, syndicate deal-by-deal investing, and various investor clubs.
Accel-KKR is an investor in enterprise software companies that has operated for 25 years, providing resources and expertise to help companies advance.
Cherry Ventures is an early-stage European venture capital firm that backs founders across a range of industries including AI, energy, gaming, and space technology.
Lakestar is a European investment firm founded by Dr. Klaus Hommels in 2012, managing over $6 billion across institutional venture capital funds and personal investments, focused on backing sector-defining technology companies and supporting Europe's technological sovereignty.
Earlybird Venture Capital is a European venture capital firm that backs early-stage technology founders with capital, strategic support, and access to an international network.
Hoxton Ventures is a European venture capital firm with a Silicon Valley mindset that invests early in founders building companies in new, non-obvious market categories, encouraging them to tackle the US market early.
▶6 more co-investors
Mangrove Capital PartnersFuel VenturesEducapitalPortugal VenturesOmnes CapitalApex Capital
Firms observed investing alongside Indico Capital Partners, from public investor directories. Shared companies are the overlap with Indico Capital Partners's recorded portfolio.
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