Portuguese VC firm Shilling launches €50M opportunity fund to back growth-stage startups techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.
Further evidence of the booming Portuguese tech ecosystem is emerging today with the news that venture capital firm Shilling is topping-up its ‘Founders Fund’ to €52 million ($59M), with €22M ($23M) more than the primary announcement last April. Significantly for Europe where often VC funds are backed by the sometimes constraining European Investment Fund, this […]
Shilling Founders Fund is Portugal’s newest VC, with $35.6M to spend on early-stage startups
Shilling, an early-stage VC in Portugal, has now launched a new €30M ($35.6M) early-stage fund called Shilling Founders Fund, which is backed just over 35 successful tech founders, as well as large European VC Atomico. The fund will run on a profit-sharing model, sharing fund returns with all of its portfolio founders. While the fund tends to back Portuguese startups it also hold back 40% of its capital for international deals.
The fund says it has already invested in seven companies: Rows (spreadsheet for app creators), Vawlt (secure and resilient multi-cloud platform), Promptly (SaaS platform for health outcomes analytics), Modatta (decentralized marketplace for consented personal data), Biocol Labs (DTC post-chemical pharmacy), Decipad (low-code notebook) and Detech.ai (AI-powered application and infrastructure monitoring platform).