Lisbon-based private equity firm Bondstone has expanded into venture capital with the launch of Bondstone Ventures. The new division is debuting its inaugural fund, Maxwell Technologies I, a €50 million vehicle dedicated to DeepTech investments. This strategic move aims to support transformative technology companies across Southern Europe and the broader European region.
A Strategic Expansion into Venture Capital
This diversification represents a natural evolution for Bondstone, which has focused on real estate since its 2016 founding. Founder and CEO Paulo Loureiro stated the firm's vision was always to create a multi-asset investment platform. The launch of Bondstone Ventures marks the next logical step in achieving that goal and positioning the firm within Europe's innovation ecosystem.
The firm believes Europe is at a pivotal moment where economic shifts and technological acceleration are creating unique opportunities. Loureiro highlighted that a convergence of factors is reshaping investment in sectors tied to technological sovereignty. This new venture is designed to capitalize on this trend and back companies capable of redefining entire industries.
Maxwell Technologies I Fund Details
The Maxwell Technologies I fund is targeting €50 million in commitments from a diversified base of institutional investors. It will operate under Bondstone Ventures, a fund management company fully authorized and supervised by the Portuguese Securities Market Commission (CMVM). This regulated structure provides a secure and transparent platform for investment.
The fundraising process is underway, with an anticipated first closing of approximately €10 million in 2026. The fund is targeting professional investors with a long-term perspective who are seeking to diversify their portfolios. Bondstone is leveraging its existing relationships from its real estate private equity business to engage with potential European investors.
A Focus on Transformative DeepTech
The fund will concentrate on Seed and early-stage financing rounds, with initial investment tickets expected to range from €500,000 to €1 million. The objective is to build a carefully selected portfolio of over 25 startups throughout the fund's investment period. This strategy allows for significant positions in early rounds and provides capital for subsequent follow-on investments.
Bondstone Ventures will invest in a wide array of DeepTech sectors, including advanced artificial intelligence, quantum computing, and computational biology. Other areas of interest include robotics, new materials, ClimateTech, and space technologies. Investment decisions will be based on the technology's quality and the founding team's scientific merit.
A key part of the investment thesis is supporting European technological sovereignty, making aerospace and dual-use defense technologies areas of interest. While the primary geographic focus is on Southern Europe, including Portugal, Spain, and France, the firm maintains a pan-European approach. It will pursue the best opportunities regardless of location to support groundbreaking innovation.
Expert Leadership and University Partnerships
The venture is led by a team combining deep financial and scientific expertise, with both Paulo Loureiro and Partner João Pedro Silva holding academic backgrounds in physics. This unique blend of skills offers a distinct value proposition to entrepreneurs pioneering complex technologies. Their experience is supported by venture partners with operational expertise from global technology companies.
To foster innovation, Bondstone Ventures is actively forging strong partnerships with leading science and engineering universities. These collaborations are designed to create a framework that facilitates cooperation between researchers, entrepreneurs, and investors. The goal is to accelerate the commercialization of scientific breakthroughs while ensuring long-term alignment among all stakeholders.
The launch of Bondstone Ventures and its inaugural DeepTech fund marks a significant milestone for the Lisbon-based firm. By expanding beyond real estate, Bondstone is positioning itself to play a crucial role in fostering Europe's next generation of technological innovation. With a regulated structure and a clear strategy, the new platform is well-equipped to support founders shaping the future.