Índico Capital Partners launches €125M Indico VC Fund III with EIF as anchor investor

Índico Capital Partners has announced the launch of its 6th fund, Indico VC Fund III, marking a major step forward for Southern Europe’s venture ecosystem. The €125M fund has secured a €30M anchor commitment from the European Investment Fund, reinforcing long-standing institutional support for Índico’s investment strategy. The first close is planned for December 2025 to onboard SIFIDE II investors.

Indico VC Fund III will back tech companies from Portugal, Spain, and Italy, including founders from these countries operating globally. The fund targets Seed to Series B, with a focus on enterprise SaaS, AI, deep tech, spacetech and oceantech—areas where the firm has already built a strong track record. Stephan de Moraes, Managing General Partner, said the EIF’s renewed backing validates Índico’s approach of supporting world-class teams on their path to global category leadership.

The EIF highlighted the importance of strengthening innovation across Southern Europe, noting the fund’s alignment with EU priorities in AI, deep tech, and the blue economy. The new fund builds on Índico’s existing portfolio of 53 companies—four of which have become unicorns—and over €240M in assets under management across five funds.

This commitment is also part of broader European initiatives, including the EIB Group’s 2024–2027 strategic roadmap and InvestEU, which aims to mobilise more than €372B in investment by 2027. The operation is additionally co-financed by Banco Português de Fomento under Portugal Blue, further strengthening capital available for ocean-related innovation.

With a 14-person team and a hands-on investment model spanning talent, product, sales, M&A and fundraising, Índico continues to position itself as a leading force in accelerating Southern European founders and helping them scale globally.