200M / Social Innovation Fund
ABOUT 200M / SOCIAL INNOVATION FUND
The 200M Co-Investment Fund (Fundo 200M) is a Portuguese public matching fund created by Decree-Law 126-C/2017 and fully financed by European Structural and Investment Funds through the regional operational programmes of Portugal 2020. It was set up to co-invest on equal terms with qualified national and international private venture capital investors in SMEs at seed, start-up and Series A/B stage, with the twin goals of attracting international VCs to Portuguese startups and drawing international startups to Portugal. PME Investimentos was appointed managing entity in 2018; Banco Português de Fomento (BPF), headquartered in Porto, took over that role on 3 November 2020 following the merger that created it. Although announced at €200M, the fund launched with €100M of capital and ultimately deployed €48.35M across 24 companies alongside 25 private co-investors from nine countries, leveraging €103.85M in total; portfolio companies included Indie Campers, Biosurfit and Platforme. Applications closed on 31 December 2022, unused allocations were returned to the regional programmes, and the fund is now limited to monitoring its existing investments. It is distinct from the Social Innovation Fund (FIS), a separate Portugal Inovação Social instrument also managed by BPF.
INVESTMENT THESIS
Public matching fund co-investing 1:1 with qualified private VCs in Portugal-based startups to crowd in international capital. Sector-agnostic; no longer accepting new operations.
INVESTMENT DETAILS
FREQUENTLY ASKED QUESTIONS
What stage does 200M / Social Innovation Fund invest at?
200M / Social Innovation Fund invests at Seed, Series A, Series B stages.
What is 200M / Social Innovation Fund's typical ticket size?
200M / Social Innovation Fund typically writes cheques of €500K–€5M.
What sectors does 200M / Social Innovation Fund invest in?
200M / Social Innovation Fund focuses on Sector Agnostic.
Where is 200M / Social Innovation Fund based?
200M / Social Innovation Fund is a VC (Government) based in Porto / Lisbon, Portugal, founded in 2017.
What companies has 200M / Social Innovation Fund invested in?
Notable 200M / Social Innovation Fund investments include Indie Campers, Biosurfit, Platforme, EatTasty.
How much does 200M / Social Innovation Fund manage?
200M / Social Innovation Fund manages €200M in assets / fund commitments.
Is 200M / Social Innovation Fund actively investing?
Closed to new applications since Dec 2022.
Can I invest in 200M / Social Innovation Fund's funds as an external investor?
200M / Social Innovation Fund invests its parent organisation's own capital and does not raise funds from external investors.
How do I contact or pitch 200M / Social Innovation Fund?
You can reach 200M / Social Innovation Fund via their website (www.bpfomento.pt/en/institutional/funds-under-management/200m-co-investment-fund). You can also run your startup through Portugal VC's AI matcher to get a ranked shortlist of the investors that fit.