Faber Launches Third VC Fund with €34M First Close, Aims for €64M

Team S · 2024-11-07T13:32:08.000Z

Faber, a Portuguese venture capital firm, has announced the first close of its third fund, Faber Tech III, raising €34 million. The firm is targeting a final close of €64 million for this new fund, which will focus on investing in early-stage deep tech startups across Southern Europe. Investment Strategy Faber Tech III will primarily invest in pre-seed and seed-stage startups, with initial investments ranging from €500,000 to €1.5 million. The fund plans to support 20 to 25 companies throughout its lifecycle, reserving capital for follow-on investments. Geo focus: While maintaining its core focus on Portugal, the fund will expand its reach to include other Southern European countries, particularly Spain. This broader geographical scope aims to tap into the region's growing tech ecosystem. The new fund will target deep tech startups in various sectors, including: - Artificial Intelligence and Data - Robotics and Automation - Cloud and Edge Computing - Cybersecurity - Digital Health Faber Tech III has attracted support from both institutional and private investors, including: - European Investment Fund (EIF) - Instituição Financeira de Desenvolvimento (IFD) - Banco Português de Fomento - NATO Innovation Fund The launch of Faber Tech III underscores the firm's commitment to fostering technological innovation and entrepreneurship in Southern Europe, particularly in the deep tech sector. With this new fund, Faber aims to capitalize on the region's expanding startup ecosystem and drive the growth of cutting-edge technologies.

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Faber Launches Third VC Fund with €34M First Close, Aims for €64M | Newnex