Portugal Ventures invested 18.6 million euros in 42 companies in 2022

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Portugal Ventures invested 18.2 million euros in 42 projects, including new investments in startups and investments in companies it had already invested in, the venture capital firm announced this Tuesday

Portugal Ventures invested a total of 18.6 million euros in 42 companies in the year 2022, according to data released by the public venture capital company this Tuesday, February 14. The entity, part of Banco Português de Fomento, added 17 startups last year to its portfolio, investing a total of 8.8 million euros in these new projects; and invested 9.8 million euros in 25 follow-on operations, that is, in rounds following the first investment, with the aim of reinforcing the companies’ capital.

The company also carried out 15 co-investment operations that totaled 57.6 million euros with capital partners, details Portugal Ventures in a statement.

According to Portugal Ventures’ balance sheet, during 2022 the venture capital company also received 308 opportunities for new investments, for a requested amount of 77.6 million euros.

In addition to the new investments already announced in startups Relive, Managing the Intelligence, Hoopers, WalliD, Fraudio, Spinach Tours, Revault, miio, FootAR, C-mo Medical Solutions, Pruvo, Portugal Ventures announced six more new investments closed last year.

Among them is the bet on Cell4Food, which wants to “create a business network to lead the market for cell-based protein production in the next decade” and democratize “access to new proteins and fibers for cellular agriculture production.”

The data science company GovWise – a joint investment with Beta Capital – aims to “generate economic and social value for public entities and companies that work with the state, applying Artificial Intelligence on open public sector data. And Portugal Ventures also entered Kendir Studios, “an educational game studio that designs and develops pioneering immersive educational solutions in the educational market”.

In the tourism area, through the Fundo Capital de Risco Turismo Crescimento, Portugal Ventures has invested in Topo Tents, a network for “renting a roof tent that can be installed on any car”; and in Unlock Boutique Hotels, a hotel management company “specializing in small and medium-sized hotels, between 20 and 120 rooms” and “with 19 hotels in 11 destinations” in its portfolio.

The investment in Bhout, a startup “that brought the punching bag into the 21st century,” is the result “of Portugal Ventures’ regular activity and was made through the Portugal Ventures Tech Competitiveness Venture Capital Fund, with financial support from the Capital and Quasi-Capital Fund managed by Banco Português de Fomento,” the statement said.

 

ADDITIONAL ROUNDS OF 9.8 MILLION

In the group of follow-on investments, Portugal Ventures again invested in 2022 “in 25 companies in its portfolio worth 9.8 million euros.” It entered the series B of the Android application platform Aptoide, “in a total round of 12 million dollars in co-investment with Digital Turbine, Faurecia and the 200M Fund”.

The public venture capital company accompanied Probely’s Series A round, “in a total round of 7.7 million euros in co-investment with Iberis Capital, Semapa Next, Bright Pixel Capital, Caixa Capital and EDP Ventures” and Didimo’s, “in a total round of 7.34 million euros in co-investment with Armilar Ventures, Bright Pixel Capital and TechStars.”

It also accompanied Iberis Capital, Armilar Ventures and Wisenext in Mindprober’s series A round for a total of €5.6 million; and Lynx Capital in Leadzai’s €5 million series A round.

Portugal Ventures also went to proGrow’s Series A round, “in a total round of €2.9 million in co-investment with Lice Capital and HCapital Partners” and to the seed rounds of Spotlite, “in a total round of €1.5 million,” and BestHealth4U, “in a total round of €1 million in co-investment with Lince Capital.”

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