CFI advised iClio on the sale of a minority stake to Portugal Ventures

Lisbon – CFI is pleased to announce it acted as the exclusive corporate finance advisor to iClio on the sale of 33,33% of its shares to Portugal Ventures.

Portugal Ventures (www.portugalventures.pt) is a Venture Capital and Private Equity firm, with accumulated experience of over 20 years in supporting the development of more than 250 Portuguese companies. Their investment policy focuses on innovative, scientific and technology-based companies as well as industrial companies and companies with international expansion projects.

iClio (www.iclio.net) is a Portuguese company dedicated to the conception and editing of history, heritage and culture content for the new media. Their portfolio includes Just in Time Tourist (https://jitt.travel/), an audio guide for Android and iOS, already considered one of the best touristic guides for smartphones, in addition to other audio guides for specific tourist routes.

iClio hired CFI Portugal as their exclusive financial advisor on their capital raise process. The investment made by Portugal Ventures will enable the company to adjust its structure to today’s increasingly demanding market needs, and to simultaneously provide the company with the ability to compete globally. The transaction was closed in 10 months.

The transaction closed on 7 February, 2014.