# Angel groups based in Portugal (2026 list) > 14 angel groups based in Portugal, 7% active in the last 12 months. Led by BrainTrust, AngelsWay, Clube Business Angels Lisboa. Ranked by what they funded. Source: https://millionrounds.com/lists/angel-groups-based-in-portugal (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Angel groups based in Portugal Updated 7 November 2026 Angel groups headquartered in Portugal. [See all 14 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fangel-groups-based-in-portugal)The top 14 **14** investors on the list No change this week **1** cheques in 12 months Too few cheques to tell **$225K** median round they joined *-97%* against the market median **7%** wrote a cheque in 12 months **0%** have led a round ## The Top 14 Ordered by cheques observed, never by anything anyone paid for Deploying now (1) - 1 [BrainTrust](https://millionrounds.com/fund/braintrust-sgps) quiet Angel network · Portugal **2** **$225K** median round **Mar 2015** last seen - 2 [AngelsWay](https://millionrounds.com/fund/angelsway) *Deploying now* Angel network · Portugal **1** **-** median round **Oct 2026** last seen - 3 [Clube Business Angels Lisboa](https://millionrounds.com/fund/clube-business-angels-lisboa) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 4 [Corporación Pull Back](https://millionrounds.com/fund/corporacion-pull-back) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 5 [ERI Capital](https://millionrounds.com/fund/eri-capital) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 6 [Ganexa Capital](https://millionrounds.com/fund/ganexa-capital) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 7 [Golden Rule](https://millionrounds.com/fund/golden-rule) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 8 [MADAN CAPITAL - MADAN ANGELS](https://millionrounds.com/fund/madan-capital-madan-angels) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 9 [Portugal Angels](https://millionrounds.com/fund/portugal-angels) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 10 [REDangels](https://millionrounds.com/fund/redangels) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 11 [Sotavento Invest](https://millionrounds.com/fund/sotavento-invest) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 12 [Teal Impact](https://millionrounds.com/fund/teal-impact) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 13 [Frenetik Priority](https://millionrounds.com/fund/frenetik-priority) unknown Angel network · Portugal **none observed** **-** median round **-** last seen - 14 [IndexTalent](https://millionrounds.com/fund/indextalent) unknown Angel network · Portugal **none observed** **-** median round **-** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **23** Oct **[Intuitivo](https://millionrounds.com/company/intuitivo)** Seed *With* [AngelsWay](https://millionrounds.com/fund/angelsway) ## Stages This Year 1 rounds - Seed **100%** ## What They Backed Sectors, last 12 months - AI **1** - Edtech **1** - Education **1** ## Cheques by Quarter Led Joined Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 1 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms based in United States 25,936](https://millionrounds.com/lists/vc-firms-based-in-united-states) - [PE firms based in United States 19,904](https://millionrounds.com/lists/pe-firms-based-in-united-states) - [VC firms based in United Kingdom 2,451](https://millionrounds.com/lists/vc-firms-based-in-united-kingdom) - [VC firms based in China 1,473](https://millionrounds.com/lists/vc-firms-based-in-china) - [VC firms based in India 1,309](https://millionrounds.com/lists/vc-firms-based-in-india) - [VC firms based in Canada 1,211](https://millionrounds.com/lists/vc-firms-based-in-canada) - [VC firms based in Germany 1,186](https://millionrounds.com/lists/vc-firms-based-in-germany) - [PE firms based in United Kingdom 974](https://millionrounds.com/lists/pe-firms-based-in-united-kingdom) - [Incubators and accelerators based in United States 828](https://millionrounds.com/lists/incubators-accelerators-based-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about angel groups based in Portugal ### Who are the most active angel groups based in Portugal? By cheques observed, the most active are BrainTrust, AngelsWay, Clube Business Angels Lisboa, Corporación Pull Back and ERI Capital. ### How many angel groups based in Portugal are there? 14 are on record. 7% made an investment in the last 12 months. ### Which stages do angel groups based in Portugal back? Of the rounds with a named stage in the last 12 months, mostly Seed (100%). ### Which sectors do angel groups based in Portugal back most? In the last 12 months, mostly AI, Edtech and Education. ### What have angel groups based in Portugal invested in recently? Recent rounds include Intuitivo (Seed, Oct 2026, with AngelsWay). ### How is this list of angel groups based in Portugal ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)