# Shilling VC: portfolio, investments and team

> Shilling VC is a vc firm based in Portugal. 56 investments on record, 7 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

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

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

# Shilling VC

Last cheque observed Sep 2026; 56 cheques on record.

Email

Deploying now VC firm

Pre-seed Seed Series A Cpg Llm Genai

Follow Shilling VC and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fshilling)

Deploying now

**47%** of best year **7** **cheques in 12 months**, 56 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$4.4M** Cheque size, as they say **$100K – $1.0M** Rounds led **0 of 56** Sole investor **7 rounds** Mostly in **Portugal, 51%**

Pitch Shilling VC

## Shilling VC highlights

- 01 7 cheques in the last 12 months
- 02 Mostly Seed and Venture: 65% of its rounds
- 03 Sole investor in 7 rounds, median $2.5M

## What they do

> We are a leading €52M early-stage VC for entrepreneurs who want to go far and scale fast. 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 Series B Growth Pre-IPO
- **Sectors:** Cpg Llm Genai
- **Based in:** Lisbon, Portugal
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **56 appearances**

- **2026** 4 rounds
- **Sept** **[Tucuvi](https://millionrounds.com/company/tucuvi)** Venture · ES **$5.7M** With 4 others
- **Jul** **[Balance](https://millionrounds.com/company/balance)** Seed · ES **$3.4M** With 1 other
- **Jun** **[Fraudio](https://millionrounds.com/company/fraudio)** Venture · NL **Undisclosed** With 1 other
- **Jan** **[Luca](https://millionrounds.com/company/luca)** Series A · MX · LatamList **$8.0M** With 3 others
- **2025** 14 rounds
- **Dec** **[Algori](https://millionrounds.com/company/algori)** Growth · ES · TechStartups **$4.2M** With 7 others
- **Dec** **[Spotlite](https://millionrounds.com/company/spotlite)** Seed · PT **$4.1M** With 2 others
- **Dec** **[Punto Health](https://millionrounds.com/company/punto-health)** Seed · GB **$2.7M** With 3 others
- **Sept** **[Nilo](https://millionrounds.com/company/nilo)** Seed · NZ **$4.0M** With 3 others
- **Sept** **[Workfully](https://millionrounds.com/company/workfully)** Seed · ES **$4.7M** With 2 others
- **Sept** **[Musiversal](https://millionrounds.com/company/musiversal)** Series A · PT **$6.0M** With 1 other
- **Aug** **[BetterPic](https://millionrounds.com/company/betterpic)** Seed · EE **$2.5M** Sole investor
- **Jul** **[Replai](https://millionrounds.com/company/replai)** Venture · PT **Undisclosed** With 2 others
- **Jun** **[Sword Health](https://millionrounds.com/company/sword-health)** PT · Firms' own news pages **$40M** With 11 others
- **Apr** **[Aptivio](https://millionrounds.com/company/aptivio)** Venture · US **Undisclosed** With 3 others
- **Apr** **[Manie](https://millionrounds.com/company/manie)** Seed · PT **$1.1M** With 2 others
- **Mar** **[specter automation](https://millionrounds.com/company/specter-automation)** Seed · DE **$5.4M** Sole investor
- **Feb** **[Phase](https://millionrounds.com/company/phase)** Series A · DE · TechCrunch **$13M** With 12 others
- **Feb** **[Relive](https://millionrounds.com/company/relive)** Series A · US **$5.5M** With 3 others
- **2024** 10 rounds
- **Nov** **[Bounce](https://millionrounds.com/company/bounce)** Series B · US · TechCrunch **$19M** With 8 others
- **Nov** **[CASAFARI](https://millionrounds.com/company/casafari)** Debt · PT **$5.3M** With 3 others
- **Oct** **[Networkme](https://millionrounds.com/company/networkme)** Venture · PT **Undisclosed** With 2 others
- **Jun** **[Cooby](https://millionrounds.com/company/cooby)** Seed **$1.8M** With 3 others
- **May** **[Rows](https://millionrounds.com/company/rows)** Venture · DE **$8.6M** With 3 others
- **Mar** **[Vawlt](https://millionrounds.com/company/vawlt)** Seed · PT **$2.3M** With 2 others
- **Mar** **[Tonic App](https://millionrounds.com/company/tonic-app)** Series A · PT **$12M** With 2 others
- **Mar** **[MyCareforce](https://millionrounds.com/company/mycareforce)** Venture · PT **Undisclosed** With 2 others
- **Mar** **[Probely](https://millionrounds.com/company/probely)** Venture · PT **Undisclosed** With 1 other
- **Feb** **[Connected](https://millionrounds.com/company/connected)** Pre-seed · PT **$2.2M** With 1 other
- **2023** 5 rounds
- **Nov** **[Bitskout](https://millionrounds.com/company/bitskout)** Pre-seed · US **$200K** With 4 others
- **Oct** **[Piper](https://millionrounds.com/company/piper)** Pre-seed · ES **$3.0M** With 2 others
- **May** **[Coverflex](https://millionrounds.com/company/coverflex)** Venture · PT **Undisclosed** With 2 others
- **Feb** **[StudentFinance](https://millionrounds.com/company/studentfinance)** Series A · ES **$41M** With 3 others
- **Jan** **[Volt Games](https://millionrounds.com/company/volt-games)** Venture · PT **Undisclosed** Sole investor
- **2022** 12 rounds
- **Dec** **[Promptly](https://millionrounds.com/company/prompt-ly)** Venture · PT **Undisclosed** With 4 others
- **Dec** **[Framedrop.ai](https://millionrounds.com/company/framedrop-ai)** Pre-seed · PT **$1.2M** With 1 other
- **Oct** **[RealFevr](https://millionrounds.com/company/realfevr)** Series A · PT **$9.9M** Sole investor
- **Oct** **[Exclusible](https://millionrounds.com/company/exclusible)** Venture · PT **$5.0M** With 2 others
- **Sept** **[Rely.io](https://millionrounds.com/company/rely-io)** Pre-seed · PT **$2.0M** With 3 others
- **Aug** **[Cuyna](https://millionrounds.com/company/cuyna)** Crowdfunding · ES **$1.3M** With 3 others
- **Jul** **[Zharta](https://millionrounds.com/company/zharta)** Seed · PT **$4.3M** With 2 others

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 **10** 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 they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

Founder's Portal

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## The cheque

Pre-seed Seed Series A

Median round joined **$4.4M** the round, not its cheque Alone, median **$2.5M**

Led 0 of 56 rounds **0%**

- **Said size:** $100K – $1.0M
- **Sole investor:** 7 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *18*
- Venture *15*
- Series A said *11*
- Pre-seed said *6*
- Crowdfunding *1*
- Series B said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) 9
- [Armilar Venture Partners](https://millionrounds.com/fund/armilar) 5
- [Bynd Venture Capital](https://millionrounds.com/fund/bynd-venture-capital) 5
- [K Fund](https://millionrounds.com/fund/kfund) 5
- [FJ Labs](https://millionrounds.com/fund/fj-labs) 4
- [Portugal Ventures](https://millionrounds.com/fund/portugal-ventures) 4

**Pitching Shilling VC?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

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

[**Indico Capital Partners** Accelerator **9** rounds together](https://millionrounds.com/fund/indico-capital-partners)[**Armilar Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/armilar)[**Bynd Venture Capital** VC firm **5** rounds together](https://millionrounds.com/fund/bynd-venture-capital)[**K Fund** VC firm **5** rounds together](https://millionrounds.com/fund/kfund)[**FJ Labs** VC firm **4** rounds together](https://millionrounds.com/fund/fj-labs)[**Portugal Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/portugal-ventures)[**LINCE CAPITAL** VC firm **3** rounds together](https://millionrounds.com/fund/lince-capital)[**Octopus Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/octopus-ventures)[**TheVentureCity** VC firm **3** rounds together](https://millionrounds.com/fund/theventurecity)[**Acurio Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/acurio-ventures)[**Alex Chesterman** Angel **2** rounds together](https://millionrounds.com/fund/alex-chesterman)[**Andreessen Horowitz** VC firm **2** rounds together](https://millionrounds.com/fund/andreessen-horowitz)

## Recently backed

The latest companies Shilling VC put money into.

[**Tucuvi** $5.7M · Sept 2026](https://millionrounds.com/company/tucuvi)[**Balance** $3.4M · Jul 2026](https://millionrounds.com/company/balance)[**Fraudio** Jun 2026](https://millionrounds.com/company/fraudio)[**Algori** $4.2M · Dec 2025](https://millionrounds.com/company/algori)[**Nilo** $4.0M · Sept 2025](https://millionrounds.com/company/nilo)[**Workfully** $4.7M · Sept 2025](https://millionrounds.com/company/workfully)

## Quick answers about Shilling VC

### What does Shilling VC invest in?

Shilling VC invests most often at Seed and Venture (65% of the rounds on record), in sectors such as Cpg, Llm and Genai.

### How active is Shilling VC?

56 investments on record, 7 of them in the last 12 months. The most recent was in Sept 2026.

### What has Shilling VC invested in recently?

Its most recent investments on record: Tucuvi (Venture, Sept 2026), Balance (Seed, Jul 2026) and Fraudio (Venture, Jun 2026).

### How big are Shilling VC's cheques?

The median round it joins is $4.4M. It says it writes cheques of $100K to $1.0M.

### Does Shilling VC lead rounds?

Rarely, if at all: none of its 56 investments on record names it as the lead.

### Where does Shilling VC invest?

Most of the companies it backs are in Portugal (51%), Spain (18%) and the United States (10%).

### Is Shilling VC investing now?

Yes: it is actively investing, with 7 investments in the last 12 months.

### Who does Shilling VC invest alongside?

Most often Indico Capital Partners (9 rounds together), Armilar Venture Partners (5 rounds together) and Bynd Venture Capital (5 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=shilling) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=shilling)