Investor Lists

VC firms based in Portugal

Updated 7 November 2026

VC firms headquartered in Portugal.

See all 131 →The top 25
131investors on the listNo change this week
69cheques in 12 months-33% against the market
$4.5Mmedian round they joined-43% against the market median
11%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 (14)

  1. 1Venture CatalystsDeploying nowVC firm · Portugal210$1.4Mmedian roundJun 2026last seen
  2. 2Portugal VenturesDeploying nowVC firm · Portugal137$1.4Mmedian roundApr 2026last seen
  3. 3FaberDeploying nowVC firm · Portugal59$3.7Mmedian roundNov 2026last seen
  4. 4Shilling VCDeploying nowVC firm · Portugal56$4.4Mmedian roundSept 2026last seen
  5. 5Bynd Venture CapitalDeploying nowVC firm · Portugal44$3.5Mmedian roundOct 2026last seen
  6. 6LINCE CAPITALDeploying nowVC firm · Portugal34$4.7Mmedian roundOct 2026last seen
  7. 7Armilar Venture PartnersDeploying nowVC firm · Portugal31$3.9Mmedian roundSept 2026last seen
  8. 8ChangePartnersquietVC firm · Portugal6$1.6Mmedian roundMar 2015last seen
  9. 9Iberis CapitalDeploying nowVC firm · Portugal6$43Mmedian roundOct 2026last seen
  10. 10ShapersDeploying nowVC firm · Portugal5$17Mmedian roundOct 2026last seen
  11. 11Busy AngelsquietVC firm · Portugal5$6.5Mmedian roundJul 2019last seen
  12. 12Biovance CapitalDeploying nowVC firm · Portugal3$9.6Mmedian roundSept 2026last seen
  13. 13Novabase CapitalquietVC firm · Portugal3$3Mmedian roundDec 2019last seen
  14. 1433N VenturesDeploying nowVC firm · Portugal2$140Mmedian roundOct 2026last seen
  15. 15PathenaDeploying nowVC firm · Portugal2$2.7Mmedian roundNov 2025last seen
  16. 16Semapa NextDeploying nowVC firm · Portugal2$35Mmedian roundJun 2026last seen
  17. 17ValutiaquietVC firm · Portugal2$23Mmedian roundFeb 2025last seen
  18. 18APEX CapitalquietVC firm · Portugal1$15Mmedian roundMay 2018last seen
  19. 19Best HorizonquietVC firm · Portugal1$2.1Mmedian roundJun 2022last seen
  20. 20BlueCrow CapitalquietVC firm · Portugal1$3Mmedian roundNov 2019last seen
  21. 21COREangels AtlanticquietVC firm · Portugal1$5.4Mmedian round-last seen
  22. 22COREangels PortoDeploying nowVC firm · Portugal1-median roundOct 2026last seen
  23. 23Critical VenturesquietVC firm · Portugal1-median roundNov 2012last seen
  24. 24Cross Atlantic VenturesquietVC firm · Portugal1$4.3Mmedian roundJul 2005last seen
  25. 25Fjord CapitalquietVC firm · Portugal1$50Mmedian roundSept 2017last seen
106 more on this list

All 131 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

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Quick answers about VC firms based in Portugal

Who are the most active VC firms based in Portugal?

By cheques observed, the most active are Venture Catalysts, Portugal Ventures, Faber, Shilling VC and Bynd Venture Capital.

How many VC firms based in Portugal are there?

131 are on record. 11% made an investment in the last 12 months and 5% have led a round.

Which stages do VC firms based in Portugal back?

Of the rounds with a named stage in the last 12 months, mostly Seed (40%) and Series A (21%).

How big are the rounds VC firms based in Portugal join?

The typical (median) round among the leading investors here is $4.4M.

Which sectors do VC firms based in Portugal back most?

In the last 12 months, mostly AI, Healthcare and Biotech.

Which VC firms based in Portugal lead the most rounds?

Biovance Capital (3 led), Armilar Venture Partners (2 led) and Iberis Capital (2 led).

What have VC firms based in Portugal invested in recently?

Recent rounds include Quint Computing (Series A, Nov 2026, with Faber), Quint (Seed, Nov 2026, with Faber) and Ravical (Seed, Oct 2026, with Shapers).

How is this list of VC 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 · Report a correction