Portugal’s largest technology investor today announced it has opened an office in London to help its portfolio companies expand and internationalise.
Portugal Ventures, a Lisbon-based VC with €400 million in assets, said it has entered into a strategic partnership with London-based VC, Beacon Capital.
Beacon Capital will advise Portugal Ventures’ companies on strategy to scale up through London’s rapidly growing technology hub, including building local teams and establishing contacts with potential clients, partners and suppliers.
The office in the heart of London’s Tech City allows Portugal Ventures to access a relevant network of scientific, business and investor entities that will benefit Portugal Ventures’ portfolio companies, which will have the chance to seek out opportunities in London’s fast growing tech ecosystem.
Codeplace, an online coding tutorial platform, was the first Portugal Ventures company to benefit from the strategic partnership with Beacon when one of Beacon’s managing partners, Maria Dramalioti-Taylor, joined their board following a €800,000 investment by Portugal Ventures.
In addition to Lisbon and London, Portugal Ventures has offices in Austin, Berlin, Boston and San Francisco. This international network is expected to benefit Beacon’s portfolio companies offering further access to growth funding and international business development opportunities.
The launch of a London office reinforces Portugal Ventures’ commitment to its portfolio companies and Portugal’s entrepreneurial community and coincides with Portugal’s rise in the global technology ecosystem as signaled by the recently announced relocation of Web Summit to Lisbon.
About Portugal Ventures:
Founded in 2012 as a result of the merger of three state backed Venture Capital and Private Equity firms, Portugal Ventures is a venture capital investor focused on innovative scientific and technology entrepreneurs. The firm has €400 million of assets under management.
About Beacon Capital:
Beacon Capital is a London based VC focused on enterprise technology at post seed to Series A stage. Since 2012, the firm has invested in 29 companies (including Azimo, Flypay, Moveguides and Ometria) whose market valuation has grown 4x from $75m to over $315m. The firm’s funding partners include the London Mayor’s LCIF Fund.