The European Investment Fund and IFD have signed a €15 million commitment to Faber tech II, a new venture capital fund focused on investing in early-stage data-centric start-ups in Iberia, primarily from Portugal.
The European Investment Fund (EIF) and Instituição financeira de Desenvolvimento (IFD) on 5th November signed a €15 million commitment to Faber Tech II, a new venture capital fund focused on investing in early-stage data-centric start-ups in Iberia, primarily from Portugal.
According to EU Commission’s statement, this is the fourth commitment to a Portuguese fund under the PORTUGAL.
The EIF, the subsidiary of the EIB Group dedicated to the financing of SMEs, and IFD, the Portuguese development bank, will each commit €7.5 million in this new transaction, Faber Tech II, which is then expected to mobilise €15 million of additional private and institutional capital.
