Shilling, the VC arm of Draycott SCR, has launched the Shilling Opportunity Fund.
The €50 million fund will support growth-stage startups with investments of up to €5 million for Series A and beyond.
With backing from three major national and international institutional investors, over 90 per cent of the fund target was raised at the first close.
Portugal has one of the lowest venture capital investment-to-GDP ratios in Europe — five times lower than the European average.
Portugal primarily focuses its VC investment on early-stage startups, leading to a considerable gap in funding for growth stages.
As pioneers in the Portuguese ecosystem, Shilling has been committed to providing high-potential startups with capital, mentorship, and expertise for sustainable growth and continues to work towards creating an entrepreneurial economy in Portugal.
The Shilling Opportunity Fund bridges this gap by backing these growth-stage companies in their subsequent funding rounds, fueling them for global success.
Hugo Gonçalves Pereira, Founding Partner of Shilling, said:
“Entrepreneurs are the driving force behind impactful societal and economic advancements. As the market recovers from post-pandemic stabilisation, our new fund will support growth-stage companies as they scale.
With high growth expected from our current portfolio and strong demand for capital to fuel that growth, this fund comes at the right time to support the ecosystem and marks the next step in our mission to build a strong network of successful entrepreneurs.”
Pereira added:
“Shilling has built a community of over 200 entrepreneurs working together for success. In keeping with our previous funds, the Opportunity Fund will also run on a profit-sharing model, distributing fund returns with our portfolio founders and founder LPs.”
Shilling’s Opportunity Fund has already invested in Coverflex and will support highly technological and scalable ventures, particularly those advancing digitization in crucial sectors such as healthtech, SaaS, e-commerce, marketplaces, and cybersecurity. It will also back ML and AI-powered disruptive solutions across industries, and Fintech and Insurtech platforms.
Since its inception, Shilling has invested in companies such as Unbabel, Bizay, Uniplaces, and Best Tables, which TripAdvisor acquired.
Lead image: Shilling. Photo: uncredited.
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