
As the climate crisis worsens, the ocean is both at risk and a source for solutions. Indico Capital Partners, a venture capital firm from Lisbon, is championing ocean-based innovation and develops it on a global scale.
From Lisbon to the world: investing in blue innovation
Founded in 2017, Indico pioneered early-stage tech venture capital fund in Portugal. It has since become a leader in innovation, launching multiple funds and investing over €105 million in 51 companies. These companies have collectively raised over €2 billion from global investors.
In 2021, Indico launched its Blue Fund, a fully privately funded venture capital fund for the blue economy. This fund targets scalable technologies that tap into the ocean’s potential –addressing environmental issues and at the same time opening new markets in areas like food, packaging, and biochemicals.
Indico’s approach is simple, yet powerful: from ocean, for the ocean to the global market. By tapping into Southern Europe’s talent, especially in Portugal, Indico helps startups scale impactful innovations worldwide.
Spotlight on scalable blue solutions
Indico’s blue portfolio showcases the variety and potential of the blue economy sector. It features BlueInvest-backed companies such as
- Biomimetx (antifouling solutions derived from nature)
- Gazelle Wind Power (floating platform for offshore wind turbines)
- Inclita Seaweed Solutions (seaweed replacing carbon-intensive materials)
- Ocean Twist Biotechnology (sustainable fish feed)
- SEAentia (sustainable aquaculture)
Indico and BlueInvest
Behind many of Indico’s most promising investments lies a common thread: BlueInvest.
“Some of our best blue economy deals didn’t come from emails, they came from conversations at BlueInvest events,” says Andre Almeida Santos, partner at Indico. “The impact that BlueInvest has created has been instrumental in maturing the industry and shaping an ecosystem. It’s not just about discovering start-ups, but also about connecting with other funds and investors.”
BlueInvest events are important meeting places for investors, startups and policymakers, to share ideas, and make connections. These gatherings are especially valuable in the hardware-heavy and still fragmented blue economy, where face-to-face meetings can be key to securing deals.
BlueInvest: a sea of opportunity
BlueInvest is the EU's innovation and investment platform for the blue economy, offering business coaching, fundraising support, and networking opportunities for ocean technology companies. Interested individuals can register with the BlueInvest Community to explore programme features and opportunities or contact lu-blueinvest@pwc.lu
The InvestEU programme supports the European economy's green and digital transition, including the InvestEU Blue Economy Fund for sustainable blue economy SMEs and start-ups. It is made possible by a top-up contribution from the European Maritime, Fisheries and Aquaculture Fund matched with additional InvestEU resources and EIF/EIB own funds.
More information
Article on EIF support to Indico Capital Partners: EIF supported Indico Capital Partners launches EUR 46 million Venture Capital fund
Website: Capital partners website
Social media: Indico on Linkedin
Details
- Publication date
- 11 June 2025
- Author
- Directorate-General for Maritime Affairs and Fisheries