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TOP 15 Venture Capital Firms for Startups in Portugal [2025]

1. Portugal VenturesVenture Capital Portugal

Investments: 312

Location: Porto, Lisboa

Socials: Website / LinkedIn / X / Facebook


Founded in 2012, Portugal Ventures is a part of the Banco Português de Fomento group. They invest in pre-seed, seed, and series A stages across various verticals, including AI, VR/AR, blockchain, IoT, and cleantech. Their portfolio spans sectors like therapeutics, digital health, tourism, and innovative accommodation, providing substantial support to early-stage startups.




2. Armilar Venture PartnersVenture Capital Portugal

Investments: 84

Location: Lisboa, Lisboa

Socials: Website / LinkedIn / X


Armilar Venture Partners manages nearly 300 million euros in assets, investing in innovative companies that improve our world. Their portfolio includes businesses with cutting-edge products and services, aiming to transform the way we live and work.




3. Caixa CapitalVenture Capital Portugal

Investments: 67

Location: Lisbon, Lisboa

Socials: Website / LinkedIn / X


As the venture capital arm of Caixa Geral de Depósitos, Caixa Capital manages over 700 million euros and supports over 80 investments. They focus on high-growth potential companies led by qualified management teams, driving sustainable societal benefits and attractive risk-adjusted returns.




4. FaberVenture Capital Portugal

Investments: 59

Location: Lisbon, Lisboa

Socials: Website / LinkedIn / X


Faber invests in deep tech startups that drive digital transformation and climate action. Their dedicated funds and expert advisors support founders building global companies in AI, Web3, and ocean/climate technologies. Notable investments include Unbabel, SWORD Health, and Codacy.




5. ShillingVenture Capital Portugal

Investments: 59

Location: Lisbon, Lisboa

Socials: Website / LinkedIn / X


Shilling backs exceptional founders from the start, investing across B2B and consumer categories. Their Shilling Platform provides access to successful founders and executives, supporting entrepreneurs in validating and growing their ventures into global markets.




6. Explorer InvestmentsVenture Capital Portugal

Investments: 48

Location: Lisboa, Lisboa

Socials: Website / LinkedIn


Established in 2003, Explorer Investments is Portugal's leading independent alternative asset manager. Managing over 1000 million euros across private equity, growth capital, and tourism/real estate, their team offers deep expertise in investment banking, consulting, and legal advice.




7. Bynd Venture CapitalVenture Capital Portugal

Investments: 47

Location: Lisbon, Lisboa

Socials: Website / LinkedIn


Bynd Venture Capital, formerly Busy Angels, invests in early-stage startups in IT/Digital and sustainability sectors. With over 30 active investments, they focus on companies in Portugal, Spain, and those with connections to these markets, providing significant support to early-stage ventures.




8. MSMVenture Capital Portugal

Investments: 32

Location: Lisbon, Lisboa

Socials: Website / LinkedIn / X


MSM is a 45M€ impact VC fund investing in founders addressing the world’s biggest social and environmental challenges. They provide capital and support to early-stage startups focused on creating a positive impact.




9. LC VenturesVenture Capital Portugal

Investments: 24

Location: Lisbon, Lisboa

Socials: Website / LinkedIn


LC Ventures is an early-stage European venture capital firm partnering with globally minded founders. They provide quick investment decisions, up to 1M€, and extensive support from their network and international mentors to help startups scale and prepare for subsequent funding rounds.




10. Maze impactVenture Capital Portugal

Investments: 18

Location: Lisboa, Lisboa

Socials: Website / LinkedIn / Facebook


Maze is an impact investment firm offering financial and non-financial tools to entities committed to positive social and environmental outcomes. They focus on supporting innovative startups that drive meaningful change.




11. Iberis CapitalVenture Capital Portugal

Investments: 21

Location: Lisbon, Lisboa

Socials: Website / LinkedIn


Iberis Capital specializes in private equity investments, supporting high-growth potential companies in various sectors. Their expertise and strategic approach help businesses achieve significant value creation and growth.




12. Lince CapitalVenture Capital Portugal

Investments: 17

Location: Lisbon, Lisboa

Socials: Website / LinkedIn


Lince Capital is an independent venture capital firm with over 30 years of experience in managing investment funds. They provide personalized support and maintain close relationships with investors and business partners, focusing on sectors like real estate, infrastructure, and agriculture.




13. Start VenturesVenture Capital Portugal

Investments: 17

Location: Lisbon, Lisboa

Socials: Website / LinkedIn


Start Ventures is a global early-stage VC investor in B2B startups, particularly in fintech and insurtech. They support visionary founders driving transformational change, offering expertise and a network to help startups scale and create positive economic impact.




14. PathenaVenture Capital Portugal

Investments: 15

Location: Porto, Lisboa

Socials: Website / LinkedIn


Pathena is an investment firm focused on boosting the success of IT and digital biomedical companies. They support startups with innovative technologies and business models, providing the resources needed to grow and succeed.




15. WISENEXTVenture Capital Portugal

Investments: 14

Location: Lisboa, Lisboa

Socials: Website / LinkedIn


WISENEXT is a venture and smart capital investment company. They focus on supporting young entrepreneurs with innovative ideas that impact society, providing capital, knowledge, and networking opportunities.

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