Independent Iberian alternative assets manager GED Capital has added three new technology startups to the portfolio of its Conexo Ventures fund – Vonzu, Pridactect and Feedzai.
Conexo Ventures has injected EUR1.5 million into Vonzu, a software company for logistics and delivery.
Pridatect, meanwhile is a company in the Legal-Tech sector founded in 2017 that offers complete solutions for generating and maintaining all documentation and procedures relating to compliance with the new GDPR legal framework for agencies, consultancies, lawyers and data protection experts.
Feedzai, which a few months ago became the fourth Portuguese unicorn, after raising a funding round of USD200 million, with a valuation of over USD1 billion, is a platform that employs AI in the fight against financial crime. Its technology protects more than 800 million consumers in 190 countries.
Conexo Ventures’ investment strategy consists of supporting, through Series A investments, formed entrepreneurial teams that are “exportable” to the United States and Latin America, and achieve there the following rounds of financing (Series B and C) and, finally, the exits.
The Conexo Ventures management team has an active presence in Boston and Silicon Valley. In this sense, the startups in which the Conexo Ventures fund invests receive legal, human resources and sales support for their international expansion and have the support of the management team for the syndication of future rounds of financing with North American private equity funds.
The Conexo Ventures vehicle, which has already received investment commitments of around EUR43 million euros, has a target size of EUR50 to 60 million, a hard cap of EUR70 million, and expects to invest in around 20 operations, of which around 50 per cent will be follow-on investments.
