EDP wants to invest 10 million euros in Portuguese startups

Through EDP Cleantech FCR, a fund created specifically for the Portuguese market, EDP has 10 million euros to invest in startups based in Portugal.

EDP seeks startups with the potential to add value and revolutionize areas such as clean energies, smart grids, energy efficiency, electric mobility, energy storage solutions, cyber-security, artificial intelligence, IoT, predictive maintenance, AR & VR, big data and advanced analytics, amongst others.

Through EDP Ventures, the EDP group continues to invest in innovation in the energy sector. With investment teams in Portugal, Spain, and Brazil, EDP Ventures invests globally in early stage startups, namely Seed and Series A, currently with 32 participants in Europe, United States, Brazil, Israel and Bangladesh. With around €70 million for investment, of which €40 million have already been invested, EDP Ventures is looking for companies that can add strategic value to the various business units of the EDP group, participating always with minority tickets - between 500 thousand and 2 million euros.

'The EDP Cleantech FCR is our preferred vehicle to invest in Portuguese startups, and is yet another demonstration of the strong bet on the national ecosystem and Portuguese DNA companies we have been making over the last decade,' sums up Luís Manuel, EDP Ventures administrator.

Pioneer in supporting startups in Portugal, EDP Ventures has holdings in companies that stand out in the national ecosystem, such as Feedzai, DefinedCrowd (which is not Portuguese, but has Portuguese DNA), Loqr Probely, Drivit (recently acquired by Zego Securities), amongst others.

EDP Cleantech FCR:
In addition to EDP, EDP Cleantech FCR is also involved in the Capital & Almost Capital Fund, which is a wholesale fund set up under the 'Portugal 2020' program for the application of European Structural and Investment Funds in financial instruments, destined to the companies administrated by the Banco Português de Fomento. The allocated funds by FC&QC to EDP Cleantech FCR originate from the European Fund for Regional Development and are destined to be applied in Portuguese investment priorities of the 'Portugal 2020'.