Portuguese VC Faber Launches €30M Ocean Sustainability Fund

Faber Launches €30 Million Fund for Ocean Tech Startups

Portuguese venture capital firm, Faber, is introducing a new investment vehicle called Faber Blue Pioneers I. This fund is designed to provide capital to startups in their initial phases of development.

The primary geographic focus will be Portugal and other countries in Southern Europe. Investments will center on companies creating groundbreaking “deep tech solutions” specifically addressing ocean sustainability and climate change mitigation.

Fund Details and Initial Investors

Faber Blue Pioneers I is targeting an initial investment pool of €30 million. This capital will come from a variety of sources, including Portugal Blue and several impact investors.

Key institutional investors contributing to the fund include Sociedade Francisco Manuel dos Santos (via Movendo Capital), the Calouste Gulbenkian Foundation, and the Champalimaud Foundation.

Investment Focus Areas

The fund intends to build a portfolio of 20 to 25 early-stage companies. These startups will be selected based on their work in crucial areas related to ocean technology.

• Blue biotech innovations will be a key area of interest.
• Startups focused on sustainable food and feed sources derived from the ocean will be considered.
• Investments will also be made in companies improving ocean health.
• Ocean intelligence and data-driven solutions are also within the fund’s scope.
• The decarbonization of various industries through ocean-related technologies will be prioritized.

Fund Management and Advisory Team

Faber Capital will manage the Faber Blue Pioneers Fund. A dedicated investment team has been assembled to oversee the fund’s operations.

Rita Sousa and Carlos Esteban will serve as fund partners, while Bruno Ferreira will contribute as a venture partner. The team will benefit from the guidance of Tiago Pitta e Cunha, CEO of the Oceano Azul Foundation, as a senior strategic advisor.

Scientific leadership will be provided by Susana Moreira and Joana Moreira da Silva, science and innovation officers at Ciimar, alongside other prominent scientists, founders, and industry specialists.

Faber’s Deep Tech Investment History

Faber has a proven track record of successful investments in other deep tech sectors. Previous portfolio companies include Unbabel, Codacy, SWORD Health, iLoF, and Abtrace.

Rita Sousa, partner at Faber Blue Pioneers Fund, emphasized the importance of this new initiative. “We believe that deep tech and mission-driven entrepreneurs will have a crucial impact on ocean sustainability and climate action.”

She further stated, “Venture capital will be key to help these founders make a difference at scale and we are thrilled to launch Faber’s Blue Pioneers Fund to back the most innovative and impactful startups. We are honored to be backed by the EIF and Portugal Blue, as well as by the most relevant Portuguese institutions committed to ocean sustainability.”