Portuguese VC Faber is launching a new fund, Faber Blue Pioneers I, to invest in early-stage startups – primarily from Portugal and Southern Europe – developing innovative “deep tech solutions” around ocean sustainability and climate action,
The fund will have an initial target of €30 million, including funding from Portugal Blue as well as impact-driven institutional investors like Sociedade Francisco Manuel dos Santos (through its investment arm Movendo Capital), Calouste Gulbenkian Foundation, and Champalimaud Foundation.
Aiming for 20-25 early-stage companies in the portfolio, the fund will back startups in areas such as ‘blue biotech’, food and feed from the ocean, ocean health, ocean intelligence or the decarbonization of multiple industries.
The Faber Blue Pioneers Fund will be managed by Faber Capital, with a new dedicated investment team led by Rita Sousa and Carlos Esteban as Fund Partners and by Bruno Ferreira as Venture Partner. They will work with senior strategic advisor Tiago Pitta e Cunha (CEO of Oceano Azul Foundation) and scientific lead advisors Susana Moreira and Joana Moreira da Silva (Science and Innovation Officers of Ciimar) among other scientists, founders and industry experts.
Faber has a reputation for investing in other DeepTech areas such as Unbabel, Codacy, SWORD Health, iLoF, and Abtrace.
Rita Sousa, Partner of Faber Blue Pioneers Fund, stated “We believe that deep tech and mission-driven entrepreneurs will have a crucial impact on ocean sustainability and climate action. 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.”