# Investors based in Portugal (2026 list) > 399 investors based in Portugal, 6% active in the last 12 months. Led by Venture Catalysts, Portugal Ventures, Faber. Ranked by what they funded. Source: https://millionrounds.com/lists/investors-based-in-portugal (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Investors based in Portugal Updated 7 November 2026 Firms headquartered in Portugal, ordered by what we have observed them do rather than by what they claim to invest in. Where a firm sits is not where it invests; for that, see investors in Portugal. [See all 399 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-portugal)The top 25 **399** investors on the list No change this week **93** cheques in 12 months *-25%* against the market **$5.6M** median round they joined *-30%* against the market median **6%** wrote a cheque in 12 months **3%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (17) - 1 [Venture Catalysts](https://millionrounds.com/fund/venture-catalysts-2) *Deploying now* VC firm · Portugal **210** **$1.4M** median round **Jun 2026** last seen - 2 [Portugal Ventures](https://millionrounds.com/fund/portugal-ventures) *Deploying now* VC firm · Portugal **137** **$1.4M** median round **Apr 2026** last seen - 3 [Faber](https://millionrounds.com/fund/faber) *Deploying now* VC firm · Portugal **59** **$3.7M** median round **Nov 2026** last seen - 4 [Shilling VC](https://millionrounds.com/fund/shilling) *Deploying now* VC firm · Portugal **56** **$4.4M** median round **Sept 2026** last seen - 5 [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) *Deploying now* Accelerator · Portugal **51** **$5.1M** median round **Nov 2026** last seen - 6 [Bynd Venture Capital](https://millionrounds.com/fund/bynd-venture-capital) *Deploying now* VC firm · Portugal **44** **$3.5M** median round **Oct 2026** last seen - 7 [LINCE CAPITAL](https://millionrounds.com/fund/lince-capital) *Deploying now* VC firm · Portugal **34** **$4.7M** median round **Oct 2026** last seen - 8 [Armilar Venture Partners](https://millionrounds.com/fund/armilar) *Deploying now* VC firm · Portugal **31** **$3.9M** median round **Sept 2026** last seen - 9 [Caixa Capital](https://millionrounds.com/fund/caixa-capital) *Deploying now* Corporate VC · Portugal **28** **$24M** median round **Oct 2026** last seen - 10 [Bright Pixel](https://millionrounds.com/fund/bright-pixel-capital) *Deploying now* Corporate VC · Portugal **10** **$19M** median round **Sept 2026** last seen - 11 [EDP Ventures](https://millionrounds.com/fund/edp-ventures) quiet Corporate VC · Portugal **7** **$12M** median round **Aug 2025** last seen - 12 [ChangePartners](https://millionrounds.com/fund/changepartners) quiet VC firm · Portugal **6** **$1.6M** median round **Mar 2015** last seen - 13 [Iberis Capital](https://millionrounds.com/fund/iberis-capital) *Deploying now* VC firm · Portugal **6** **$43M** median round **Oct 2026** last seen - 14 [Shapers](https://millionrounds.com/fund/shapers) *Deploying now* VC firm · Portugal **5** **$17M** median round **Oct 2026** last seen - 15 [Busy Angels](https://millionrounds.com/fund/busy-angels) quiet VC firm · Portugal **5** **$6.5M** median round **Jul 2019** last seen - 16 [Accent Capital](https://millionrounds.com/fund/accent-capital) quiet Investment firm · Portugal **3** **$2.5M** median round **Jul 2006** last seen - 17 [Biovance Capital](https://millionrounds.com/fund/biovance-capital) *Deploying now* VC firm · Portugal **3** **$9.6M** median round **Sept 2026** last seen - 18 [Sonae](https://millionrounds.com/fund/sonae) *Deploying now* Investment firm · Portugal **3** **$65M** median round **Jun 2026** last seen - 19 [Novabase Capital](https://millionrounds.com/fund/novabase-capital) quiet VC firm · Portugal **3** **$3M** median round **Dec 2019** last seen - 20 [PME Investimentos](https://millionrounds.com/fund/pme-investimentos) quiet Fund of funds · Portugal **3** **$55M** median round **Feb 2016** last seen - 21 [33N Ventures](https://millionrounds.com/fund/33n-ventures) *Deploying now* VC firm · Portugal **2** **$140M** median round **Oct 2026** last seen - 22 [Alea Capital Partners](https://millionrounds.com/fund/alea-capital-partners) *Deploying now* Private equity · Portugal **2** **$5M** median round **May 2026** last seen - 23 [BrainTrust](https://millionrounds.com/fund/braintrust-sgps) quiet Angel network · Portugal **2** **$225K** median round **Mar 2015** last seen - 24 [DRX](https://millionrounds.com/fund/drx) quiet Growth equity · Portugal **2** **$40M** median round **Jun 2017** last seen - 25 [Explorer Investments](https://millionrounds.com/fund/explorer) *Deploying now* Private equity · Portugal **2** **$4.8M** median round **Jan 2026** last seen **374 more on this list** All 399 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-portugal) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[Bizay](https://millionrounds.com/company/bizay)** Series D+ *Led by* [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) - **5** Nov **[Quint Computing](https://millionrounds.com/company/quint-computing)** Series A · $10M *With* [Faber](https://millionrounds.com/fund/faber) - **3** Nov **[Granter](https://millionrounds.com/company/granter)** Seed *Led by* [3xP Global](https://millionrounds.com/fund/3xp-global) - **3** Nov **[Quint](https://millionrounds.com/company/quint)** Seed · $10M *With* [Faber](https://millionrounds.com/fund/faber) - **29** Oct **[Ravical](https://millionrounds.com/company/ravical)** Seed · $17M *With* [Shapers](https://millionrounds.com/fund/shapers) - **28** Oct **[Artiso](https://millionrounds.com/company/artiso)** Pre-seed · $3.4M *With* [Bynd Venture Capital](https://millionrounds.com/fund/bynd-venture-capital) ## Stages This Year 82 rounds - Seed **33%** - Series A **20%** - Venture **12%** - Pre-seed **9%** - Series B **7%** - Other **20%** ## What They Backed Sectors, last 12 months - AI **31** - Biotech **6** - Healthcare **6** - Financial Services **6** - Cybersecurity **5** - Manufacturing **5** ## Cheques by Quarter Led Joined 38 Q1 25 32 Q2 25 41 Q3 25 27 Q4 25 27 Q1 26 18 Q2 26 15 Q3 26 16 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors based in United States 73,439](https://millionrounds.com/lists/investors-based-in-united-states) - [Investors based in United Kingdom 8,136](https://millionrounds.com/lists/investors-based-in-united-kingdom) - [Investors based in Canada 3,879](https://millionrounds.com/lists/investors-based-in-canada) - [Investors based in India 3,865](https://millionrounds.com/lists/investors-based-in-india) - [Investors based in Germany 3,455](https://millionrounds.com/lists/investors-based-in-germany) - [Investors based in China 3,027](https://millionrounds.com/lists/investors-based-in-china) - [Investors based in United Arab Emirates 2,916](https://millionrounds.com/lists/investors-based-in-united-arab-emirates) - [Investors based in Australia 2,592](https://millionrounds.com/lists/investors-based-in-australia) - [Investors based in France 2,280](https://millionrounds.com/lists/investors-based-in-france) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about investors based in Portugal ### Who are the most active investors based in Portugal? By cheques observed, the most active are Venture Catalysts, Portugal Ventures, Faber, Shilling VC and Indico Capital Partners. ### How many investors based in Portugal are there? 399 are on record. 6% made an investment in the last 12 months and 3% have led a round. ### Which stages do investors based in Portugal back? Of the rounds with a named stage in the last 12 months, mostly Seed (39%) and Series A (23%). ### How big are the rounds investors based in Portugal join? The typical (median) round among the leading investors here is $5M. ### Which sectors do investors based in Portugal back most? In the last 12 months, mostly AI, Biotech and Healthcare. ### Which investors based in Portugal lead the most rounds? Indico Capital Partners (4 led), Biovance Capital (3 led) and Armilar Venture Partners (2 led). ### What have investors based in Portugal invested in recently? Recent rounds include Bizay (Series D+, Nov 2026, with Indico Capital Partners), Quint Computing (Series A, Nov 2026, with Faber) and Granter (Seed, Nov 2026, with 3xP Global). ### How is this list of investors 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)