Portugal’s largest technology investor company today announced it has opened an office in Berlin to help its portfolio companies succeed in Germany.
Portugal Ventures, a Lisbon-based VC with €450 million (£331 million) in assets and 100 portfolio companies, said it is moving some of its employees to Berlin’s betahaus coworking space in a bid to deepen the relationship between its portfolio companies and German investors and corporations.
“The reputation of Portugal’s technology scene is blossoming, and Lisbon was recently declared one of Europe’s most entrepreneurial regions by the EU,” said José Franca, CEO and Chairman of Portugal Ventures.
“In opening an office in Berlin, we hope to see a deeper relationship between our portfolio companies, and the Portuguese ecosystem in general, with the German community - including investors, non-executive directors, advisory board members, corporations, and so on.”
Portfolio companies that stand to benefit include analytics firm Processware and Bullet Solutions, which specialises in the development of software that can support scheduling or educational timetabling.
The three-year old venture capital firm said the expansion is not about backing tech companies coming out of Berlin – a city that has spawned successful companies like SoundCloud and recently acquired Wunderlist.
Portugal Ventures was founded in 2012 following the merge of three state-backed venture capital and private equity firms.
Beyond Lisbon and Berlin, Portugal Ventures also has a US presence with offices in San Francisco, Boston and Austin.
The Berlin office is due to open on 11 June.