Seedrs and Portugal Ventures have formed a partnership to support the Portugal ecosystem.
The partnership will see the firm investing alongside the public in companies crowdsales on Seedrs. Portugal Ventures looks to boost its portfolio within the technology sector, including FinTech, smart manufacturing, digital health, mobility and travel tech.
Portugal Ventures stated it will invest alongside the ‘crowd’ with a cap of €1.25m. The partnership, which marks the first between a venture firm and Seedrs, will see Portugal Ventures invest up to 50 per cent of the funding targets of Portuguese startups.
Seedrs CEO Jeff Kelisky, said, “We are very excited by this exclusive partnership as it gives ambitious early-stage Portuguese businesses access to quality investment as well as an incredible opportunity to take their brand to the next level by building community and marketing value.”
Portugal Ventures has already made a range of investments into the FinTech space, with its current portfolio including Portuguese cash management solution Zarph, risk management and cybersecurity service BitSight and forward-looking intelligence platform TTR – Transactional Track Record.
The firm tends to make co-investments for a minority stake of businesses, with commitments ranging between €100,000 and €1.25m.
Earlier this year, Portugal-based Aptoide App Store raised $28m in its pre-ICO sale for its AppCoin. The company is an app store which enables users to spend these tokens on apps, or use them on other app stores.
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