# Portugal Ventures: portfolio, investments and team

> Portugal Ventures is a vc firm based in Portugal. 137 investments on record, 3 in the last 12 months, latest Apr 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/portugal-ventures (Millionrounds; every figure on the page links to its filing or article)

Portugal · [Investor](https://millionrounds.com/investors)

# Portugal Ventures

Last cheque observed Apr 2026; 137 cheques on record.

Email

Deploying now VC firm

Pre-seed Seed Series A Digital Engenharia & Indústria Ciências Da Vida

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Deploying now

**16%** of best year **3** **cheques in 12 months**, 137 on record

Since the last cheque **213** days **00** hrs **00** min **00** sec

Median round **$1.4M** Cheque size, as they say **$100K – $1.0M** Rounds led **0 of 137** Sole investor **71 rounds** Mostly in **Portugal, 95%**

Pitch Portugal Ventures

## Portugal Ventures highlights

- 01 3 cheques in the last 12 months
- 02 Mostly Seed and Venture: 86% of its rounds
- 03 Sole investor in 71 rounds, median $796K

## What they do

> Investimos em startups de base tecnológica, em fases Pre-Seed, Seed e Series A From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $1.0M as they say
- **Stages:** Pre-seed Seed Series A
- **Sectors:** Digital Engenharia & Indústria Ciências Da Vida
- **Based in:** Porto, Portugal
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **137 appearances**

- **2026** 1 round
- **Apr** **[Fetalix](https://millionrounds.com/company/fetalix)** Grant · PT **$532K** With 1 other
- **2025** 15 rounds
- **Dec** **[Spotlite](https://millionrounds.com/company/spotlite)** Seed · PT **$4.1M** With 2 others
- **Dec** **[CleoCare](https://millionrounds.com/company/cleocare)** Venture · PT **Undisclosed** With 1 other
- **Sept** **[Nutrium](https://millionrounds.com/company/nutrium)** Series A · PT **$12M** With 2 others
- **Sept** **[Omniflow](https://millionrounds.com/company/omniflow)** Venture · PT **Undisclosed** With 2 others
- **Aug** **[Reckon.ai](https://millionrounds.com/company/reckon-ai)** PT · Silicon Canals **$5.9M** With 4 others
- **Jul** **[Glartek](https://millionrounds.com/company/glartek)** Venture · PT **$2.4M** Sole investor
- **Jul** **[Gazelle Wind Power](https://millionrounds.com/company/gazelle-wind-power)** Venture · IE **$1.7M** With 2 others
- **Jun** **[Bandora](https://millionrounds.com/company/bandora)** Venture · PT **$116K** With 1 other
- **Jun** **[Winalist](https://millionrounds.com/company/winalist)** Seed · FR **$1.1M** With 2 others
- **May** **[Indie Campers](https://millionrounds.com/company/indie-campers)** Venture · PT **$31M** With 1 other
- **May** **[ADECI Group](https://millionrounds.com/company/adeci-group)** Seed · PT **$565K** Sole investor
- **Mar** **[IMMUNETHEP](https://millionrounds.com/company/immunethep)** Grant · PT **$1.3M** With 2 others
- **Mar** **[OurSupport](https://millionrounds.com/company/oursupport)** Series A · PT **$1.4M** Sole investor
- **Feb** **[Jscrambler](https://millionrounds.com/company/jscrambler)** Venture · PT **$5.2M** Sole investor
- **Jan** **[BHOUT](https://millionrounds.com/company/bhout)** Venture · PT **Undisclosed** With 2 others
- **2024** 13 rounds
- **Nov** **[Hoopers](https://millionrounds.com/company/hoopers)** Seed · PT · LatamList **$2.3M** With 3 others
- **Nov** **[GovWise](https://millionrounds.com/company/govwise)** PT **$1.1M** Sole investor
- **Nov** **[Felton](https://millionrounds.com/company/felton)** Seed · PT **$2.3M** Sole investor
- **Nov** **[DIG-IN](https://millionrounds.com/company/dig-in)** Pre-seed · PT **$1.2M** Sole investor
- **Oct** **[Lenera](https://millionrounds.com/company/lenera)** Pre-seed · PT **$547K** Sole investor
- **Oct** **[Corium Biotech](https://millionrounds.com/company/corium-biotech)** Pre-seed · PT **$547K** Sole investor
- **Sept** **[PluggableAI](https://millionrounds.com/company/pluggableai)** Seed · PT **$1.9M** Sole investor
- **Jul** **[BestHealth4u](https://millionrounds.com/company/besthealth4u)** Venture · PT **Undisclosed** With 3 others
- **Jul** **[Bandora](https://millionrounds.com/company/bandora)** Seed · PT **$1.6M** Sole investor
- **Jun** **[Azitek](https://millionrounds.com/company/azitek)** Venture · PT **$806K** Sole investor
- **May** **[Unlockit](https://millionrounds.com/company/unlockit)** Pre-seed · PT **$1.5M** With 1 other
- **Mar** **[MyCareforce](https://millionrounds.com/company/mycareforce)** Venture · PT **Undisclosed** With 2 others
- **Jan** **[Leadzai](https://millionrounds.com/company/leadzai)** Venture · PT **Undisclosed** With 1 other
- **2023** 12 rounds
- **Nov** **[LUGGit](https://millionrounds.com/company/luggit)** Seed · PT **$2.0M** Sole investor
- **Nov** **[Aptoide](https://millionrounds.com/company/aptoide)** Venture · PT **$9.1M** With 3 others
- **Aug** **[Ruby Nanomed](https://millionrounds.com/company/ruby-nanomed)** Venture · PT **Undisclosed** With 1 other
- **Jul** **[Bam & Boo](https://millionrounds.com/company/bamboo)** Seed · PT **$500K** With 1 other
- **Jul** **[PLUTOS](https://millionrounds.com/company/plutos)** Seed · PT **$316K** Sole investor
- **Jun** **[De Risk International](https://millionrounds.com/company/de-risk-international)** Pre-seed · PT **$418K** Sole investor
- **Jun** **[HiJiffy](https://millionrounds.com/company/hijiffy)** Venture · PT **$2.7M** With 2 others
- **Jun** **[GRAPHENEST](https://millionrounds.com/company/graphenest)** Seed · PT **$2.0M** With 3 others
- **Mar** **[NU-RISE](https://millionrounds.com/company/nu-rise)** Seed · PT **$3.5M** With 1 other
- **Mar** **[Glooma](https://millionrounds.com/company/glooma)** Venture · PT **Undisclosed** Sole investor
- **Feb** **[Mission To Escape](https://millionrounds.com/company/mission-to-escape)** Seed · PT **$264K** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **20** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**2+** funds on file numbered funds in its name

## The cheque

Pre-seed Seed Series A

Median round joined **$1.4M** the round, not its cheque Alone, median **$796K**

Led 0 of 137 rounds **0%**

- **Said size:** $100K – $1.0M
- **Sole investor:** 71 rounds
- **Last cheque:** Apr 2026

Rounds by stage said on their site

- Seed said *78*
- Venture *34*
- Pre-seed said *7*
- Series A said *7*
- Grant *4*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Faber](https://millionrounds.com/fund/faber) 8
- [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) 6
- [LINCE CAPITAL](https://millionrounds.com/fund/lince-capital) 6
- [Armilar Venture Partners](https://millionrounds.com/fund/armilar) 5
- [Busy Angels](https://millionrounds.com/fund/busy-angels) 5
- [EIC Accelerator](https://millionrounds.com/fund/eic-accelerator) 5

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## Who they invest alongside

The investors most often in the same rounds as Portugal Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**Faber** VC firm **8** rounds together](https://millionrounds.com/fund/faber)[**Indico Capital Partners** Accelerator **6** rounds together](https://millionrounds.com/fund/indico-capital-partners)[**LINCE CAPITAL** VC firm **6** rounds together](https://millionrounds.com/fund/lince-capital)[**Armilar Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/armilar)[**Busy Angels** VC firm **5** rounds together](https://millionrounds.com/fund/busy-angels)[**EIC Accelerator** Government **5** rounds together](https://millionrounds.com/fund/eic-accelerator)[**Bynd Venture Capital** VC firm **4** rounds together](https://millionrounds.com/fund/bynd-venture-capital)[**InovCapital** Investment firm **4** rounds together](https://millionrounds.com/fund/inovcapital)[**Shilling VC** VC firm **4** rounds together](https://millionrounds.com/fund/shilling)[**EISMEA** Investment firm **2** rounds together](https://millionrounds.com/fund/eismea)[**European Commission** VC firm **2** rounds together](https://millionrounds.com/fund/european-commission)[**MassChallenge** Accelerator **2** rounds together](https://millionrounds.com/fund/masschallenge)

## Recently backed

The latest companies Portugal Ventures put money into.

[**Fetalix** $532K · Apr 2026](https://millionrounds.com/company/fetalix)[**CleoCare** Dec 2025](https://millionrounds.com/company/cleocare)[**Nutrium** $12M · Sept 2025](https://millionrounds.com/company/nutrium)[**Omniflow** Sept 2025](https://millionrounds.com/company/omniflow)[**Reckon.ai** $5.9M · Aug 2025](https://millionrounds.com/company/reckon-ai)[**Glartek** $2.4M · Jul 2025](https://millionrounds.com/company/glartek)

## Quick answers about Portugal Ventures

### What does Portugal Ventures invest in?

Portugal Ventures invests most often at Seed and Venture (86% of the rounds on record), in sectors such as Digital, Engenharia & Indústria and Ciências Da Vida.

### How active is Portugal Ventures?

137 investments on record, 3 of them in the last 12 months. The most recent was in Apr 2026.

### What has Portugal Ventures invested in recently?

Its most recent investments on record: Fetalix (Grant, Apr 2026), Spotlite (Seed, Dec 2025) and CleoCare (Venture, Dec 2025).

### How big are Portugal Ventures's cheques?

The median round it joins is $1.4M. It says it writes cheques of $100K to $1.0M.

### Does Portugal Ventures lead rounds?

Rarely, if at all: none of its 137 investments on record names it as the lead.

### Where does Portugal Ventures invest?

Most of the companies it backs are in Portugal (95%).

### Is Portugal Ventures investing now?

Yes: it is actively investing, with 3 investments in the last 12 months.

### Who does Portugal Ventures invest alongside?

Most often Faber (8 rounds together), Indico Capital Partners (6 rounds together) and LINCE CAPITAL (6 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=portugal-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=portugal-ventures)