Nuno Francisco, Angel Investor, on the Growth of Startup Investments in Portugal
In recent years, Portugal has witnessed a remarkable surge in startup investments, creating a thriving ecosystem for innovation and entrepreneurship. Nuno Francisco, head of country at COREangels Lisbon, shares insights into this burgeoning landscape and highlights the unique strategies and collaborative efforts driving this growth. With significant investments and a goal to expand their portfolio, COREangels Lisbon is at the forefront of supporting and nurturing the next generation of Portuguese startups.
Investment in Startups is Growing in Portugal
"Investment in startups in Portugal has been growing in recent years," Nuno states. This surge in investment is creating a vibrant ecosystem for emerging businesses in the region. Nuno emphasizes the importance of providing strategic guidance to these startups, ensuring they can navigate the market's uncertainties successfully.
Strategic Guidance and Collective Investment
Nuno Francisco highlights COREangels Lisbon's approach: "It is important to offer strategic guidance." The company has invested around 800,000 euros in eight startups, with a goal to include 25 startups in their portfolio by 2026. COREangels Lisbon's portfolio includes innovative Portuguese startups like BHOUT, revolutionizing gaming and fitness, and Ethiack, a cybersecurity platform aimed at preventing cyberattacks.
Unique Business Model of COREangels International
COREangels International operates through a collective investment process. "We operate through a collective investment process in the same portfolio of startups," explains Nuno. This model reduces investment risk and enhances decision-making through diverse investor opinions and experiences. The impact on entrepreneurs is significant, as they receive active support and mentorship from investors with varied backgrounds.
Increasing Investment and Collaboration
The growing investment in startups in Portugal is attracting more venture capital firms, angel investors, accelerators, and other funding sources. Despite the competition, there is more collaboration than rivalry, especially in the early stages. "At COREangels Lisbon, we invest together with other entrepreneurs in the same rounds," says Nuno, emphasizing the collaborative nature of their investments.
Democratic Investment Decisions
In COREangels funds, investment decisions are made democratically. "Angels democratically decide which startups to invest in," Nuno claims. Each investor has one vote, ensuring equal voting rights regardless of their investment size. This democratic process has led COREangels Lisbon to invest around 100,000 euros in each startup, aiming for a portfolio of 25 startups by 2026.
Regulatory Environment and Safety
The regulatory environment for startup investments in Portugal is still evolving, but the government has taken steps to promote entrepreneurship and innovation. "Investing in startups always involves risks," admits Nuno, but he adds that investing as a group with dedicated leaders makes the process easier and safer.
Differentiation and Global Reach
COREangels International distinguishes itself through its energetic and community-focused approach. "We not only invest financially but also place a very special focus on creating value through mentoring entrepreneurs and providing operational support," says Nuno. The global network of COREangels funds provides access to regional and international networking and investment opportunities, enhancing their support for startups.
Future Strategy
Looking ahead, COREangels Lisbon aims to expand its reach. "The strategy is to expand our area of intervention, increasing the number of investors, the countries we are present in, and the number of startups supported by our community," affirms Nuno. The increasingly global market offers many opportunities for growth and expansion.
