Fomento Portugal Blue is a €50 million equity partnership between Banco Português de Fomento (BPF) and the EIF launched in 2020. The program invests through venture capital and growth funds that support technology-based projects, sustainable innovation, and a positive impact on the ocean. It targets fund managers focusing on companies in the blue economy sector.
Portugal Blue mobilises private and institutional capital to support companies linked to the blue economy with sustainable and innovative business models; attract companies and researchers in the maritime sector to Portugal; strengthen investment capabilities in strategic sectors; and place Portugal at the forefront of the ocean economy at the European level.
Key achievements
Two funds have been committed under Fomento Portugal Blue so far with new investments in the pipeline. The program is expected to support approximately 30 companies, mobilising over €75 million in total investment. The first fund has already invested approximately €11 million in 11 start-ups whilst the other is now beginning its investment period. If you are a company looking for funding, please contact our portfolio funds.
| Fund name | Signature |
Total invested (EURm) |
No. of companies |
| Faber Blue Pioneers I | Jan 2022 | 11.3 | 11 |
| Growth Blue | Jun 2024 | - | - |
| Total | 11.3 | 11 |
Data as of 30 June 2025
Portugal Blue
In the news
Application information for fund managers
The EIF continues to assess investment proposals from Portuguese and European managers through its open calls. Please apply via our generic investment proposal form (dealflow) via the link below.
More funding in Portugal
Further information
The Fund defines with the assistance of the Investment Advisor certain excluded sectors in which the Fund is prohibited to invest directly or indirectly. The selection of such sectors is based on the Investment Advisor ESG guidelines: EIF Environmental, Social and Corporate Governance (ESG) Principles as well as on investment considerations meant to avoid inter alia any actual or potential material social, governance and/or environmental negative impact on the Fund performance. Such excluded sectors are taken into consideration in the investment process and decision-making process of the Fund.
The Fund does not consider adverse impact of investment decisions on sustainability factors at the present time considering that (i) in the absence of regulatory guidance, it is not clear what regulators will expect of entities that elect to consider such matters at this time, and (ii) it is also not clear that there is sufficient data, and data of a sufficient quality, to support entities that do so, in the relevant asset classes, industries or sectors in which investments have been/may be made. Sustainability factors are environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.