Invest in the leading Portuguese VC Fund that is also compliant with the Portugal Golden Visa programme

If you are considering applying for a Golden Visa in Portugal, Indico Funds are fully compliant with the necessary requirements. The Venture Capital fund we are currently accepting investors for, invests in the startups participating in the Indico and Google Acceleration Program.

The Indico Acceleration Program The Leading ICT Acceleration Program in Portugal that selects the best pre-seed Portuguese startups and helps them to build and scale-up world-class digital businesses.



The first edition of the accelerator started in July 2020 after a screening of over 140 candidate companies.


Batch Size

Our team has selected less than 5% of the applicants. We are currently working with these 7 teams on product and business development.


Investement per Company

We have invested 100 thousand Euros per company and the fund will invest every year in a batch of new companies.


Accelerator Batches

We run one Accelerator program per year and we select Portuguese startups targeting global markets that have the potential to become global category winners.

Why Indico The leading institutional independent VC firm based in Portugal investing in global and sustainable technology companies.

Top-Notch Team

A dedicated and hands-on team with +50 years of combined investment and startup experience.

Deal Flow Preferential Access

A strong brand allows for preferential access to the best pre-seed opportunities in Portugal. Indico has screened over 1700 startups in the last two years.

Proven Track Record

Attractive returns in the current fund and high quality initial pre-seed portfolio (2020 batch).

Google for Startups Partners

The program provides companies with access to best of Google - its technology, network and people.

Portuguese Market Dynamics

Excellent market momentum, with high-quality deal-flow and lack of smart-money financing.

Wide International Network

Indico is the preferred co-investment partner in Portugal for several Top international VCs.

Fully Dedicated Superior Investment and Company Development Team

Stephan Morais

Managing General Partner Former CEO and entrepreneur with 20+ years of investment, entrepreneurship and management experience.

Ricardo Torgal

General Partner Investment experience in multiple environments, including backing the most prominent local startups.

Cristina Fonseca

Venture Partner Founder, entrepreneur and angel investor, passionate about technology.

Rui Rodrigues

Principal Investor and consultant with previous experience in Private Equity and Venture Capital.

João Martins

Program Manager Previously Senior Marketing Manager; 15+ years of Asian experience.

We are Fully Compliant With the Portuguese Golden Visa Program

Enjoy the benefits of the Portuguese GV Program: no taxes on foreign income, full family residency, flexibility with a low residency requirement and a potential EU citizenship after 5 years of residency.

  • 350k Eur Golden Visa investment
  • Type C participation unit with full capital paid-in on subscription
  • Over 60% of Indico Fund invested in Portuguese entities

We Issue the necessary documentation for the Golden Visa application. All investors are previously subject to KYC procedures by Indico Capital. Indico Capital complies with the main international financial reporting requirements, namely FATCA (US) and CRS (remaining OECD countries). The Fund is audited by an international audit firm (Baker Tilly). No hidden fees charged by Indico Capital.

* We strongly recommend obtaining legal advice before taking any of the steps of the Golden Visa, namely before making any kind of investment or submitting any applications or documents as we do not guarantee the investors personal compliance nor the visa approval.

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