ATLANTICO VCF ANNOUNCES ITS FIRST INVESTMENT IN REVAULT, A CYBERSECURITY COMPANY BASED IN THE AZORES
Portugal Ventures, from Banco Português de Fomento Group, and August One, a private investment firm regulated by the Monetary Authority of Singapore (MAS), are proud to announce Atlântico Venture Capital Fund’s investment in Revault.
Revault develops cybersecurity solutions for businesses, based on blockchain, that add transfer rules to Bitcoin transactions, with the aim of minimizing the amount that can be diverted, either by involuntary error or by theft/fraud.
Unlike competing solutions, which imply trust in an intermediary and make these entities attractive targets for attacks due to the amount of Bitcoins they have in their custody, Revault's solution allows the Bitcoin owner to retain custody of the private keys, imposing transfer rules at the level of Bitcoin's own blockchain.
This open source solution offers greater security to the Bitcoin transfer processes, preventing theft and fraud, either by external entities or by employees within the company itself.
Kevin Loaec, CEO of Revault: “We are delighted to have Portugal Ventures join Revault as our first Portuguese and European investor. This investment complements our strategy of bringing to the company VCs and business angels with know-how and track-record in the Bitcoin industry.”
This investment, from Atlântico, supports a call for applications made in partnership with the Government of the Azores. Portugal Ventures and August One shall be investing through the Atlântico Fund. The fund aims to promote the spirit of business and encourage the development of solutions in sectors considered of great potential for the Region. By supporting companies like Revault in the Azores, (incubated at Terinov), the fund aims to help position the Azores as a leader in Bitcoin cybersecurity innovation in both the European and North American markets.
The Azores region could be a crucial ally for the development of this project, as it offers unique conditions in terms of physical security for a company that provides this type of service.
Terceira Island is considered a Free Technological Zone, a space for the demonstration and testing of new technologies, which offers security to test innovative products and services without incurring all the normal regulatory consequences related to the activity in question.
Pedro de Mello Breyner, Member of the Board of Directors of Portugal Ventures, states that “The investment in Revault will allow us to strengthen the sales and marketing area of this project, which is currently being launched on the international market. It is solutions such as Revault's that contribute to positioning Portugal as a leader in R&D, promoting the globalization of national innovation. We are confident that we will put the Azores on the world map”.
José Maia, Investment Lead at August One, explains that “we are committed to bringing capital, technology, opportunities and talent to the investments we manage. At FCR Atlântico, we do this by cooperating with Portugal Ventures, under the mandate of creating a positive impact in the autonomous regions and, of course, creating value for our investors. This is the first investment in the growth segment of this fund, in a company that proposes a solution especially suited to internationalization. A new phase of work with Revault is now starting with the aim of valuing it, giving it access to opportunities in Asian markets and in others where we have a presence.”
About Portugal Ventures:
Portugal Ventures, a venture capital company that is part of the Banco Português de Fomento Group, has 254 million euros under management and 140 companies in its portfolio. It invests in startups that create innovative solutions, capable of internationalization, in the areas of Digital & Technology, Industry, Health Technologies and Tourism, in the pre-seed, seed and series A phases. Since 2012, Portugal Ventures has invested 177 million euros in more than 184 new companies. To learn more, visit www.portugalventures.pt.
About August One:
August One is a Venture Capital Fund Manager regulated by the Monetary Authority of Singapore ('MAS'). Through its Investment, Acceleration and Family Office platforms, August One collaborates with various governments, universities and companies to help unlock the potential of existing and emerging companies.
In Portugal, August One has partnered with Portugal Ventures in Fundo Atlântico and manages the incubation and acceleration program Velocity.
To learn more, visit: https://www.august.one/