PORTUGAL BLUE approves investment in the first deep tech fund for the blue economy in the Iberian Peninsula – Executive Digest
PORTUGAL BLUE announced this Wednesday that it has approved the investment in Faber Blue Pioneers I, the first “deep tech” fund for blue economy and climate action in the Iberian Peninsula.
“Today, the Minister of the Sea, Ricardo Serrão Santos, and the CEO of the European Investment Fund (FEI), Alain Godard, jointly announced the approval of Faber Blue Pioneers, the first fund selected under the scope of PORTUGAL BLUE, at an event chaired by the Minister of State for the Economy and Digital Transition, Pedro Siza Vieira ”, was revealed in a note sent to the media today.
PORTUGAL BLUE was presented in October last year and is the result of a partnership between the FEI – the venture capital arm of the European Investment Bank Group (EIB) -, Banco Português de Fomento (BPF) and the Portuguese Government, through the Blue background.
The program is aimed at investments in the blue economy with climate impact and sustainable development goals, having been created to attract private capital from public and institutional investors to the local blue economy, through venture capital funds and private equity funds managed by Portuguese teams .
The Faber Blue Pioneers fund will be managed by Faber Capital SCR, by a new investment team led by Rita Sousa and Carlos Esteban, as dedicated Partners, and by Bruno Ferreira, as Venture Partner.
The fund will also leverage Faber Capital’s investment experience and expertise in supporting talented entrepreneurs with specialized life sciences and engineering backgrounds. Faber was one of the first investors in high-tech companies such as Unbabel, Codacy, SWORD Health, iLoF, YData or Abtrace, most recently through the Faber Tech II fund, focused on Artificial Intelligence and digital transformation, also supported by the FEI and BPF, via Portugal Tech.
“Portugal Blue is a Program that takes into account the geographic position of the country and its significant maritime space. It aims to stimulate private investment and attract innovation to activities related to the sea”, explained the Minister of State for the Economy and Digital Transition, Pedro Siza Vieira.
The fund’s team will work closely with a network of experts by strategic advisor Tiago Pitta e Cunha (CEO of Oceano Azul Foundation) and as scientific advisors Susana Moreira and Joana Moreira da Silva (Science and Innovation Researchers at Ciimar), among others.