# PE firms based in Portugal (2026 list)

> 58 PE firms based in Portugal, 9% active in the last 12 months. Led by Alea Capital Partners, DRX, Explorer Investments. Ranked by what they funded.

Source: https://millionrounds.com/lists/pe-firms-based-in-portugal (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# PE firms based in Portugal

Updated 7 November 2026

PE firms headquartered in Portugal.

[See all 58 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-portugal)The top 25

**58** investors on the list No change this week

**5** cheques in 12 months Too few cheques to tell

**$19M** median round they joined *+133%* against the market median

**9%** wrote a cheque in 12 months

**5%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (5)

- 1 [Alea Capital Partners](https://millionrounds.com/fund/alea-capital-partners) *Deploying now* Private equity · Portugal **2** **$5M** median round **May 2026** last seen
- 2 [DRX](https://millionrounds.com/fund/drx) quiet Growth equity · Portugal **2** **$40M** median round **Jun 2017** last seen
- 3 [Explorer Investments](https://millionrounds.com/fund/explorer) *Deploying now* Private equity · Portugal **2** **$4.8M** median round **Jan 2026** last seen
- 4 [3xP Global](https://millionrounds.com/fund/3xp-global) *Deploying now* Private equity · Portugal **1** **-** median round **Nov 2026** last seen
- 5 [ActiveCap](https://millionrounds.com/fund/activecap-capital-partners-scr-s-a) *Deploying now* Private equity · Portugal **1** **$31M** median round **Oct 2026** last seen
- 6 [Cedrus Capital](https://millionrounds.com/fund/cedrus-capital) quiet Private equity · Portugal **1** **$74M** median round **Nov 2024** last seen
- 7 [Celtis Venture Partners](https://millionrounds.com/fund/celtis-venture-partners) *Deploying now* Private equity · Portugal **1** **-** median round **Nov 2026** last seen
- 8 [Dcapital](https://millionrounds.com/fund/dcapital) quiet Growth equity · Portugal **1** **$5M** median round **Aug 2015** last seen
- 9 [Haitong Capital](https://millionrounds.com/fund/haitong-capital) quiet Private equity · Portugal **1** **$180M** median round **Apr 2017** last seen
- 10 [Touro Capital Partners](https://millionrounds.com/fund/touro-capital-partners) quiet Private equity · Portugal **1** **$5.9M** median round **Aug 2025** last seen
- 11 [3t Portugal](https://millionrounds.com/fund/3t-portugal) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 12 [AUTUMN 68 - VENTURE CAPITAL, S.A.](https://millionrounds.com/fund/autumn-68-venture-capital-s-a) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 13 [Above Capital SCR](https://millionrounds.com/fund/above-capital-scr) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 14 [Acttue Ibérica Capital](https://millionrounds.com/fund/acttue-iberica-capital) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 15 [Adventure Investments](https://millionrounds.com/fund/adventure-investments) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 16 [Albatross Capital](https://millionrounds.com/fund/albatross-capital) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 17 [Alpac Capital](https://millionrounds.com/fund/alpac-capital) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 18 [Altay Investments](https://millionrounds.com/fund/altay-investments) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 19 [Altaz Capital](https://millionrounds.com/fund/altaz-capital) unknown Growth equity · Portugal **none observed** **-** median round **-** last seen
- 20 [Altos Equity Partners](https://millionrounds.com/fund/altos-equity-partners) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 21 [Argentum Capital](https://millionrounds.com/fund/argentum-capital) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 22 [Ask Capital](https://millionrounds.com/fund/ask-advisory-services-kapital) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 23 [Atena Equity Partners](https://millionrounds.com/fund/atena-equity-partners) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 24 [Birdmont Capital](https://millionrounds.com/fund/birdmont-capital) unknown Private equity · Portugal **none observed** **-** median round **-** last seen
- 25 [Capital Plus Fund](https://millionrounds.com/fund/capital-plus-fund) unknown Private equity · Portugal **none observed** **-** median round **-** last seen

**33 more on this list**

All 58 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%2Fpe-firms-based-in-portugal)

## The Newest Cheques

Rounds this list's investors joined most recently

- **3** Nov **[Granter](https://millionrounds.com/company/granter)** Seed *Led by* [3xP Global](https://millionrounds.com/fund/3xp-global)
- **23** Oct **[Beyond Vision](https://millionrounds.com/company/beyond-vision)** Series A · $31M *With* [ActiveCap](https://millionrounds.com/fund/activecap-capital-partners-scr-s-a)
- **29** May **[Checkstep](https://millionrounds.com/company/checkstep)** Seed · $4M *Led by* [Alea Capital Partners](https://millionrounds.com/fund/alea-capital-partners)
- **5** Jan **[Luca](https://millionrounds.com/company/luca)** Series A · $8M *With* [Explorer Investments](https://millionrounds.com/fund/explorer)
- **1** Aug **[Reckon.ai](https://millionrounds.com/company/reckon-ai)** $5.9M *With* [Alea Capital Partners](https://millionrounds.com/fund/alea-capital-partners)
- **28** May **[Litehaus](https://millionrounds.com/company/litehaus)** Pre-seed · $1.7M *Led by* [Explorer Investments](https://millionrounds.com/fund/explorer)

## Stages This Year

4 rounds

- Seed **50%**
- Series A **50%**

## What They Backed

Sectors, last 12 months

- AI **4**
- Defence Tech **1**
- Drones **1**
- Edtech **1**
- Education **1**
- Fintech **1**

## Cheques by Quarter

Led Joined

Q1 25

1 Q2 25

2 Q3 25

Q4 25

1 Q1 26

1 Q2 26

Q3 26

3 Q4 26

The last bar is the quarter still running.

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[All investor lists *→*](https://millionrounds.com/lists)

## Quick answers about PE firms based in Portugal

### Who are the most active PE firms based in Portugal?

By cheques observed, the most active are Alea Capital Partners, DRX, Explorer Investments, 3xP Global and ActiveCap.

### How many PE firms based in Portugal are there?

58 are on record. 9% made an investment in the last 12 months and 5% have led a round.

### Which stages do PE firms based in Portugal back?

Of the rounds with a named stage in the last 12 months, mostly Seed (50%) and Series A (50%).

### How big are the rounds PE firms based in Portugal join?

The typical (median) round among the leading investors here is $31M.

### Which sectors do PE firms based in Portugal back most?

In the last 12 months, mostly AI, Defence Tech and Drones.

### Which PE firms based in Portugal lead the most rounds?

Alea Capital Partners (1 led), Explorer Investments (1 led) and 3xP Global (1 led).

### What have PE firms based in Portugal invested in recently?

Recent rounds include Granter (Seed, Nov 2026, with 3xP Global), Beyond Vision (Series A, Oct 2026, with ActiveCap) and Checkstep (Seed, May 2026, with Alea Capital Partners).

### How is this list of PE firms 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)