What we do
Institutional investors
Equity products
AI Co-Investment Facility
Cleantech Co-Investment Facility
Impact investing at the EIF
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Normandie Garantie Agri
FAIRE - La Réunion
Auvergne Rhône-Alpes FEADER
Recovery Equity Fund of Funds of Bulgaria
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Central and Eastern European Technology Transfer (CEETT)
Croatian Growth Investment Programme (CROGIP) II
Croatian Growth Investment Programme (CROGIP)
Croatian Venture Capital Initiative 2 (CVCi 2)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
EU4Business Capped Guarantee
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund 1 (LFF)
Luxembourg Future Fund 2
Mezzanine 'Fund of Fund' for Germany (MDD)
NEOTEC resources
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)
RRF Czech Republic Fund of Funds

Portugal Tech II: Government, EIF and BPF boost investment for venture capital with Portuguese DNA

    Date: 02 November 2021
  • The Minister of State, Economy and Digital Transition, Pedro Siza Vieira, and EIB Vice President Ricardo Mourinho Félix announced the Portugal Tech II program at the Web Summit.
  • The new program aims to mobilise €250 million of investments in technology transfer projects and Portuguese start-ups.

Today, the Portuguese Minister of State for the Economy and the Digital Transition, Pedro Siza Vieira, and the EIB Vice-President, Ricardo Mourinho Félix, announced a renewed partnership at Web Summit, one of the largest and most influential tech events in the world. The program was developed by the European Investment Fund (FEI), an integral part of the EIB Group, in cooperation with Banco Português de Fomento (BPF), to support the development of the venture capital ecosystem in Portugal.

Building on the fruitful capitalisation partnerships between the EIF and BPF launched in the past three years, which include Portugal Tech I, Portugal Growth, and Portugal Blue, the new programme will be funded by a €50 million allocation from the Government, to be matched with an additional €50m from EIF managed resources.

Portugal Tech II aims to mobilise €250 million in venture capital investments to boost technology-transfer projects from universities and technology-based start-ups with high potential in areas such as artificial intelligence, machine learning, fintech, healthtech and cybersecurity, amongst others. Portugal Tech II will select venture capital funds managed by Portuguese private teams with relevant track-record in the venture capital, technology transfer and acceleration segments, provided that they are able to raise capital from private and institutional investors.

The new program is inspired by Portugal Tech I. Launched in 2018, the program successfully mobilised private capital and generated about five euros of investments for each euro of national funding. With an independent investment process and a fast execution capacity, the program partnered with some of Portugal’s most outstanding venture capital managers, including Indico Capital Partners, Armilar Venture Partners, and Faber Capital.

Through its funds, which are still at the investment stage, Portugal Tech I helped finance a long list of technology-based companies with Portuguese DNA, such as Bizay, Sword Health, Tonic App, iLof, Unbabel, Infraspeak, Casafari, Anchorage, Student Finance, Barkyn, Findster, Codacy, Raws, Ydata, and Eattasty.

The Minister of State for the Economy and Digital Transition, Pedro Siza Vieira, said that “building on the success of our partnership with the EIF, the continuation of Portugal Tech is testament to Portugal’s commitment to supporting a vibrant tech scene in our country, ensuring that companies continue to have access to sufficient funding and crowd-in private investments." The Minister also highlighted the scope of Portugal Tech, stating that it "will continue to support an environment where technology and innovation play central roles in the transformation of our economy."

The EIB Group is Europe’s leading innovation investor and committed to backing the Portuguese venture capital ecosystem. Today’s agreement at Web Summit, Europe’s largest tech conference, in partnership with the Portuguese Government under the EU’s Recovery and Resilience Plan, is excellent news for Portugal's founders and entrepreneurs,” said EIB Vice-President Ricardo Mourinho Félix. “Building on the European Investment Fund’s unique track record in supporting European tech hubs and unicorns, this initiative crowds in private investors resources and will help transform disruptive ideas into successful businesses that can give Portugal and Europe a leading edge in the global tech race.” 

Portugal Tech II is already analysing investment proposals from eligible funds, and any new application should be submitted for EIF’s assessment here. The first fund is expected to be announced in 2022.

Background information:

About the EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About BPF

Banco Português de Fomento is the Portuguese national promotional bank. Its mission is to support Portugal’s economic and social development by creating and providing innovative and competitive solutions tailored to the needs and challenges of the business ecosystem, fostering an entrepreneurial spirit, enabling investment and job creation, and promoting sustainability and economic, social and territorial cohesion.

Press contacts:


Lorenzo Squintani, tel.: +352 691 285 772, l.squintani@eib.org

Website: www.eif.org – Press office: +352 4379 21000 – press@eib.org

Follow us on Twitter @eif_eu 


BPF Media Team media@bpfomento.pt 

Daisy Rosario +351 917 912 634

Maria João Quintela +351 927 638 943

Website: www.bpfomento.pt 

Follow us on LinkedIn

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.