Portugal Capital Ventures, a public Venture Capital and Private Equity firm, announced its partnership with LB Ventures (LBV), a venture formation and acceleration entity, to establish a Center in Boston to complement the already established West Coast Bay Area location in San Francisco.
According to a release, the Center will cater for the needs of the growing portfolio of knowledge-based companies "born global" that are emerging in Portugal in various technology sectors, and will be of particular relevance for Life Sciences and Medical Technology businesses, as well as for ICT and Internet applications.
This initiative is part of Portugal Ventures' Acceleration and Innovation Hubs in the World program, which is one of the 4 pillars of its Ignition Program. The Ignition Program was launched in 2012 with the purpose of spearheading the development of a modern and competitive economy open to the world.
Dr. Jose Franca, Chairman and CEO of Portugal Ventures, said, "We are pleased to form a partnership with LBV, as it is led by an experienced entrepreneur, an investor whose track record includes venturing in the public and private sectors, and current management of the well regarded Industry and Venture Competition activities of MIT Portugal Program (MPP). In addition, we look forward to a most fruitful set of collaborations in Boston, immersing in the cultural environment of Kendall Square and CIC, leveraging the vast presence of world-class startups in its ecosystem, and capturing the strong drive for entrepreneurship that is ingrained in the MIT culture."
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