The venture capital company Armilar announced this Wednesday, November 5th, the raising of more than 120 million euros for its new fund, Armilar IV.
This investment will be directed to supporting startups in Portugal, Spain and Europe, focusing on disruptive technologies.
According to Pedro Ribeiro Santos, managing partner from the Lisbon-based venture capital firm, “Armilar IV represents a natural step for our company, allowing us to expand our Series A investment platform and support exceptional founders in transitioning their technologies to market.”
The fund has already attracted institutional investors, including the European Investment Fund (EIF) and Caixa Capital, as well as partnerships with the Spanish Society for Technological Transformation.
Duarte Mineiro, partner of Armilar, states that there is an ambition to “build a portfolio of around 20 companies throughout the life of the fund. The Iberian Peninsula is a fertile territory for growth, combining talent, innovation in R&D and robust institutional support”, he states in the statement sent to the newsrooms.
Armilar IV plans to focus on B2B startups that use digital technologies and hard science to solve global challenges, covering areas such as artificial intelligence, cybersecurity, and digital health.
The venture capital company has the ambition to increase the size of Armilar IV, with the aim of doubling it by the end of 2026, taking advantage of the opportunities that the Iberian Peninsula’s innovation ecosystem offers.