Indico VC Fund II

About Indico VC Fund II

Indico VC Fund II is a venture capital firm based in Portugal, focusing on Seed stage investments. The fund actively supports founders building innovative solutions in AI/ML, Climate & Sustainability, SaaS, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionPortugal

Funding StageSeed

Industry Focus

Ai Ml

Climate Sustainability

Saas

Investor Signals Profile

active

Sweet Spot

Deep tech founders reshaping urban infrastructure in underserved markets

Southern/Eastern Europe focus

early-stage VC

resilient founders

urban innovation

sustainable infrastructure

Bullish Signals

Active content & podcast outputexternal

Covers Ukraine/frontier market foundersexternal

GP speaking at top tech universitylinkedin

Engineer GP = strong deep tech filterlinkedin

GP keynoting IST 'Cities of Tomorrow' panellinkedin

Contrarian Signals

Niche geography = limited deal flowexternal

Urban tech focus may narrow pipelinelinkedin

Founder Do's

Show real-world perseverance

Operate in underserved markets

Build in urban tech or smart cities

Leverage deep tech for infrastructure

Founder Don'ts

Talk resilience without proof

Ignore sustainability angle

Key GPs & Partners

Stephan de Moraes

Managing General Partner

civil engineer backgroundurban innovationspeaker

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Fund Overview

Fund Size€50M

Saves0

Website

Key People

Stephan De Moraes, Ricardo Torgal

Stephan de MoraesManaging General Partner