Shilling, an early-stage VC in Portugal, has now launched a brand new €30M ($35.6M) early-stage fund known as Shilling Founders Fund, which is backed simply over 35 profitable tech founders, in addition to giant European VC Atomico. The fund will run on a profit-sharing mannequin, sharing fund returns with all of its portfolio founders. While the fund tends to again Portuguese startups it additionally maintain again 40% of its capital for worldwide offers.
The fund says it has already invested in seven firms: Rows (spreadsheet for app creators), Vawlt (safe and resilient multi-cloud platform), Promptly (SaaS platform for well being outcomes analytics), Modatta (decentralized market for consented private information), Biocol Labs (DTC post-chemical pharmacy), Decipad (low-code pocket book) and Detech.ai (AI-powered utility and infrastructure monitoring platform).
The fund is additionally launching what it dubs the “Shilling Platform” – a pool of learnings and assets for startups.
In an announcement, Pedro Santos Vieira, managing accomplice at Shilling stated: “We call it experience-based acceleration. Additionally, we run on a profit-sharing model. Each portfolio founder will receive a share of our returns. This twofold approach fully aligns incentives between Shilling, LPs, and portfolio founders.”
Founded by Hugo Gonçalves Pereira, António Casanova, Diogo da Silveira, João Coelho Borges, Juan Alvarez and Pedro Rutkowski in 2011, Shilling was later joined by tech founders Ricardo Jacinto (Elecctro), Miguel Santo Amaro (Uniplaces), Pedro Ramalho Carlos (IP) and Pedro Santos Vieira (GoodGuide) within the final 5 years. Since 2011, it has invested in numerous breakout hits from the nation, together with Unbabel; Bizay; Uniplaces; and Best Tables, acquired by TripADvisor.
Hugo Gonçalves Pereira, founding father of Shilling, added: “We are a Portugal-based, globally ambitious, VC fund, with a founder-friendly approach to early-stage investing… and when we say founder-friendly we truly mean it: in our pre-seed program, ventures go from first call, to money in the bank, in less than 30 days.”
As we famous earlier this 12 months in our ExtraCrunch survey of Lisbon, Portugal, the town is gearing up to be a part of different important tech hubs.
Other main VCs within the nation embody Indico Capital Partners, Faber, Armilar Venture Partners, Tocha, and Portugal Ventures.