The European Investment Fund (EIF) has committed €90 million to three funds focused on Portuguese venture capital, aiming to boost the growth of startups in deep technology and cybersecurity.

This funding will enable Armilar Venture Partners IV, Faber Tech III, and the 33N Cybersecurity and Infrastructure Software Fund to mobilize over €400 million for tech startups, with operations already in progress.

Faber Tech III specializes in science-based companies and has invested in over 50 deep tech startups, while Armilar Venture Partners IV, with 25 years of experience, plans to advance between €120 million and €250 million to startups with strong technological differentiation.

The announcement was made during a press conference at the Web Summit in Lisbon by Marjut Falkstedt, CEO of the EIF, alongside Pedro Reis, Portugal's Minister of Economy.

Minister Reis emphasized the critical role of startups in driving digital and green transitions, which are essential for sustainable economic growth.

Falkstedt highlighted the importance of venture capital funds as agents of change in fostering key technologies and innovations, and she expressed the EIF's goal of attracting private capital.

The EIF, part of the European Investment Bank Group, focuses on helping micro, small, and medium-sized enterprises access finance through venture capital and microfinancing instruments.

The EIF's commitment is part of the InvestEU program, which aims to mobilize over €372 billion for the EU's top policy priorities, including the European Green Deal and digital transition.

While Armilar and Faber have previously received funding from the EIF, 33N is a new recipient, supported by investment from the Luxembourg Futures fund.

Reis noted that venture capital funds serve as a transformation engine, enabling projects to grow independently and overcome barriers.

António Vicente, deputy head of the European Commission's representation in Portugal, attended the press conference, representing Invest EU, which contributed to the announced funding.

Minister Reis thanked the EIF for its support of the three Portuguese companies, describing it as a strategic partner that promotes sustainable growth and positively impacts communities.