“O Portugal’s Minister of the Sea, Ricardo Serrão Santos, and the executive director of the European Investment Fund (FEI), Alain Godard, announced the approval of the ‘Fund of the Pioneers Faber Blue’, the first fund selected under the Portugal Blue”, he said. today, in a statement, the EIF.
Portugal Blue, which is managed by Banco Português de Fomento, is a fund of funds, with 50 million euros of capital until 2026, leveraging 25 million euros of private capital, totaling 75 million euros to invest in the blue economy sustainable development in Portugal.
This fund was signed between the Ministry of the Sea, the Blue Invest Fund and the Fundo Azul.
The ‘Faber Blue Pioneers’, now approved, has 30 million euros, between the financing of Portugal Blue and private commitments from institutional investors, such as the Francisco Manuel dos Santos Society, the Calouste Gulbenkian Foundation and the Champalimaud Foundation.
According to the same note, the fund will invest in ‘startups’ (companies with rapid economic growth potential) in Portugal and southern Europe, with an impact on the sustainability of the oceans and on climate action.
“The approval of ‘Faber Blue Pioneers’ as the first technology fund for the blue economy and climate action in the Iberian Peninsula is an important milestone”, defended, quoted in a statement, Alain Godard.
In turn, the Minister of the Sea said that this investment “marks a new stage of maturity of the instruments available to the blue economy”.
Ricardo Serrão Santos also pointed out that this partnership will play a “fundamental role” in boosting blue economy projects in Portugal.
Read also: BCP and FEI renew partnership and support Portuguese SMEs with over 1,650 million