Lisbon VCs 🇵🇹

THE GUIDE to the Lisbon Venture Capital Scene. Bathed in sunshine and vibrant culture, Lisbon has rapidly transformed into one of Europe's most compelling hubs for early-stage innovation. Fueled by a growing pool of skilled talent, a strategic bridge between Europe, Africa, and the Americas, and a supportive ecosystem, the city attracts ambitious founders and active VCs from across the globe. Lisbon's dynamic landscape is buzzing with breakout sectors like FinTech, HealthTech, AI, Deep Tech, SaaS, and Clean Energy. With strong government initiatives, a thriving community of incubators and accelerators like Startup Lisboa and the Unicorn Factory, and a unique blend of lifestyle and business advantages, Lisbon continues to emerge as a powerhouse for scalable innovation in Europe. Did I miss anyone? Reach out here.

Bionova Capital

Intro: Bionova Capital is a venture capital firm founded in 2015, primarily based out of Lisbon, Portugal. They focus on early-stage health-related technology startups in Europe. Sectors: Health-related Technology, Life Sciences, High Tech, HealthTech, Internet of Things - Industry Applications, Sustainability Tech. Notable investments: SolasCure, Vaxdyn, Adapttech.

MAZE

Intro: MAZE invests in early-stage companies addressing social and environmental challenges, partnering with startups across various industries to scale impact-driven solutions. Sectors: Impact-driven solutions across various industries (social and environmental challenges). Notable investments: Not explicitly specified.

Faber Ventures

Intro: Faber Ventures invests in early-stage tech startups from pre-seed to Series B, supporting entrepreneurs leveraging science and technology for significant impacts. Sectors: Biotech, AI, Climate Tech, Data Infrastructure. Notable investments: Not explicitly specified.

Buenavista Equity Partners

Intro: Founded in 1996, GED Ventures Portugal focuses on seed-stage tech companies with transformative potential, adhering to ESG best practices. Their mission is to support sustainable technologies that create lasting positive impact. Now Buenavista Equity Partners. Sectors: Tech (with transformative potential), ESG-aligned industries. Notable investments: Not explicitly specified.

Bright Pixel

Intro: Bright Pixel focuses on early and growth-stage tech companies, supporting entrepreneurs with financial backing and strategic advice. Sectors: Cybersecurity, Personal Finance, Artificial Intelligence, Machine Learning, Retail Tech, Enterprise SaaS, Enterprise Applications, Enterprise Infrastructure, High Tech, Vertical SaaS. Notable investments: Invested in numerous Tech, Enterprise (B2B), Software, and SaaS companies. Specific names not explicitly listed.

RR² CAPITAL

Intro: RR² CAPITAL supports early-stage companies, focusing on next-gen technologies. Sectors: Data and Business Intelligence, Crypto, Web3 Technologies. Notable investments: Not explicitly specified.

Basinghall Partners

Intro: Basinghall Partners believes in smart capital: connecting tech pioneers with established industry partners through deep data insights and startup expertise. They focus on B2B innovation. Sectors: B2B Innovation, HR Tech Software, Retail Software, Zero Emission Solutions, Big Data Food Waste Optimisation, Safety Culture Software/Hardware, Receivable Management Software Solutions, Industry 4.0, ESG, FinTech. Notable investments: Retorio, EMSU, Arthur Bus, Delicious Data, Tended, Invevo.

Portugal Ventures

Intro: Based in Porto with an office in Lisbon, Portugal Ventures specializes in early-stage startups, aiming to help Portuguese startups grow and succeed. Sectors: Tech, Life Sciences, Tourism. Notable investments: Not explicitly specified.

BlueCrow Capital

Intro: BlueCrow Capital, founded in 2010, manages €570M in assets across 16 investment funds, focusing on structuring and executing project financing strategies while adhering to ESG best practices. They support projects that promote decarbonization, food supply enhancement, and renewable resource optimization. Sectors: Robotics & ICT, IoT, Biotech, Sustainable Food, Augmented Reality, Medtech, Agriculture, Fintech, Retail, AI, New Technologies. Notable investments: Not explicitly specified.

Indico Capital Partners

Intro: A prominent independent Venture Capital firm based in Lisbon, Portugal, specializing in investing in early-stage and seed global technology companies. They have a strong track record of supporting global tech success. Sectors: Climate Tech, E-commerce, Sales, Manufacturing, Hiring, Logistics, IoT, Insuretech, Service Industries. Notable investments: Not explicitly specified, but portfolio includes a range of global tech companies.

3xP Global

Intro: At 3xP Global, they are transforming private equity in the Iberian market with unrivalled ESG knowledge, a hands-on approach, and decades of industry expertise. They focus on People, Planet, and Prosperity. Sectors: Health and Life Sciences, Responsible AI, Sustainable Finance, Impact Investing. Notable investments: BloodFlow, Goparity.

Olisipo Way

Intro: Olisipo Way focuses on pre-seed investments, specializing in B2B projects and aiming to build a supportive community for its startups. Sectors: Sales and Marketing, Adtech, Productivity Tools. Notable investments: Not explicitly specified.

3 Comma Capital

Intro: Founded in 2022, this Lisbon-based fund emphasizes digital assets' potential in future markets. Sectors: Media, Entertainment, Sales, Marketing. Notable investments: Not explicitly specified.

HCapital Partners

Intro: A privately-owned private equity firm focusing on investments in the Iberian Middle Market. Sectors: Climate Tech & Green Tech, AI, Energy & Nuclear. Notable investments: Not explicitly specified.

Explorer Investments

Intro: Founded in 2003, Explorer Investments is Portugal's leading private equity firm, managing around €1,400 million in assets. They aim to create value for investors and contribute positively to the community and environment. Sectors: Health Tech, Sustainable Technologies, Tourism, Real Estate, Industry (broad private equity focus). Notable investments: Not explicitly specified, but portfolio companies are typically in their focus sectors.

Bynd Venture Capital

Intro: A leading Iberian Venture Capital firm that supports early-stage tech companies in Iberia. They are the first professional investor for many of their portfolio companies. Sectors: Real Estate, E-commerce, Fintech, Health Tech, AI & Software, Consumer Goods, Sustainability Tech. Notable investments: Portfolio includes companies in clear aligner orthodontics, real estate databases, predictive maintenance platforms, and next-gen voice games. (Specific company names often not public for all investments).

Caixa Capital

Intro: The Venture Capital and Private Equity arm of Caixa Geral de Depósitos banking Group. They invest across all sectors, supporting high-growth potential companies. Sectors: Information Technology, and other sectors where high growth potential exists. Notable investments: Not explicitly specified.

hypra.fund

Intro: hypra.fund invests in early-stage startups, particularly in seed and Series A rounds. Sectors: Crypto, Fintech, Enterprise Software. Notable investments: Not explicitly specified.

LC Ventures

Intro: An early-stage European venture capital firm partnering with globally minded founders. Deep tech VC fund backing early-stage science and engineering-led teams in Portugal and beyond. Sectors: Deep Tech, Science & Engineering-led ventures. Notable investments: Not explicitly specified.

Shilling Capital Partners

Intro: An esteemed early-stage VC in Portugal, backing exceptional founders and offering access to a platform of successful founders and executives. Sectors: Tech, SaaS, Marketplaces, AI. Notable investments: Not explicitly specified.

Lightshift Capital

Intro: Lightshift Capital focuses on early-stage investments, aiming to support projects shaping the future of finance and the internet. Sectors: Blockchain, Crypto, Web3 Projects. Notable investments: Not explicitly specified.

Semapa Next

Intro: A venture capital firm that invests in teams of exceptional founders from Series A to late-stage funding. Sectors: FinTech, Crypto & Web3, Gaming. Notable investments: Not explicitly specified.

Armilar Venture Partners

Intro: A Lisbon-based venture capital company founded in 1999, specializing in supporting technology-based companies and innovative businesses across all stages. Sectors: Health Tech, Edtech, FinTech, Deep Tech, SaaS, Semiconductors, AI & Deep Tech, Data & Analytics, Education, Fashion & Apparel, Hardware, Robotics & IoT, Legal & Professional Services, Media, Events & Entertainment, Real Estate & Proptech, Security & Privacy, Social Media, Software & Apps, Transportation & Mobility, Web 3.0. Notable investments: OutSystems, Feedzai, Vawlt.

Startup Lisboa

Intro: Founded in 2012, Startup Lisboa is an incubation program providing physical and virtual support, including office space, mentoring, and connections to partners, along with funding opportunities and networking events. Also offers access to early capital. Sectors: Diverse (as an incubator, they support a wide range of startups). Notable investments: Not explicitly specified (as an incubator, their "investments" are often through incubation programs and network rather than direct VC funding).

LINCE CAPITAL

Lince Capital Intro: Founded in 2016 and based in Lisbon, Lince Capital is an independent venture capital and private equity firm. The company manages a variety of investment funds and provides active, hands-on support to portfolio companies. Sectors: Real Estate, Healthcare, Technology, Retail, Industrial Notable investments: Sword Health, Sensei, Kencko, Bizay, Pleez, Musiversal, Vawlt

Start Ventures

Intro: Founded in 2016 and based in Lisbon, Start Ventures is a global venture capital investor. They focus on early-stage, B2B startups in the financial sector, specifically Fintech and Insurtech. They aim to provide more than just capital, offering hands-on support, strategic guidance, and access to an extensive network to help companies scale. Sectors: Financial Services, Fintech, Insurtech, Cybersecurity, and Regtech. Notable investments: Ethiack, Jove, Claims Carbon, Anansi

OUTSIZED VENTURES

Intro: Outsized Ventures is an early-stage venture capital firm with HQ in London, UK, founded in 2021 and a subside in Caparica, Portugal. The firm partners with founders who are building "deep tech" companies—those at the intersection of science and technology—to solve major global challenges. Sectors: Outsized Ventures specializes in what they call "deep tech" or "frontier tech," including: Artificial Intelligence, Biotechnology & Healthtech, Climate & Sustainability, Manufacturing & Industrial Tech, Space Technology Notable investments: Biorce, Hoxton Farms, Magdrive, Julienne Bruno, Emitwise

Homepage EDP | edp

Intro: EDP Ventures is the corporate venture arm of the EDP Group, a global energy company. Founded in 2008 and based in Lisbon, Portugal, the firm invests in early-stage tech startups that align with EDP's strategic vision for energy transition. Its goal is to support and stimulate open innovation in the energy sector, often co-investing with other VCs and providing a global network to its portfolio companies. Sectors: EDP Ventures is highly focused on a broad range of technologies that impact the energy sector. Their key investment areas include: - Renewable Energy (Wind, Solar, etc.) - Green Hydrogen - Energy Storage & Flexibility - Smart Grids & Electric Mobility - Decarbonization - AI & Digital Solutions for Energy EDP Ventures Intro: EDP Ventures is the corporate venture arm of the EDP Group, a global energy company. Founded in 2008 and based in Lisbon, Portugal, the firm invests in early-stage tech startups that align with EDP's strategic vision for energy transition. Its goal is to support and stimulate open innovation in the energy sector, often co-investing with other VCs and providing a global network to its portfolio companies. Sectors: EDP Ventures is highly focused on a broad range of technologies that impact the energy sector. Their key investment areas include: Renewable Energy (Wind, Solar, etc.) Green Hydrogen Energy Storage & Flexibility Smart Grids & Electric Mobility Decarbonization AI & Digital Solutions for Energy Notable Investments: Piclo, Captura, Mixergy, Power to Hydrogen, Terabase Energy, Yotta Energy

Homepage

Intro: GreenOne Capital was founded in 2016 and is a venture capital and private equity firm based in Lisbon, Portugal. In 2020, it was acquired by the Emerald Group and rebranded to Green One Capital, with a renewed focus on climate and energy transition, social innovation, and digital transformation. Sector: Education, Renewable Energy, Tourism. Notable Investments: Tejo Solar Future III, Golden Prosperity Fund, Premium Investments Portugal, Golden Leisure, Golden Venture

OW Ventures - Turning Vision into Value, Together

Intro: OW Ventures is a Portuguese venture capital firm and fund manager based in Lisbon, Portugal, that invests in and supports technology-driven startups. The firm was founded in 2016 and is known for its hands-on approach and for fostering a community of collaboration among its portfolio companies. Sectors: OW Ventures focuses on a wide variety of tech-centered sectors, with a natural tendency for B2B projects. Their funds and investments cover: Digital & Technology, Fintech, Insurtech, Healthtech, Wellness & Beauty, Enterprise Software Notable investments: SheerME, Modatta, Nutrium, MyCareforce, Paynest

Iberis Capital

Intro: Founded in 2017 and based in Lisbon, Portugal, Iberis Capital is a private equity and venture capital firm. It was established by four partners with a mission to capitalize on investment opportunities in the Portuguese market. Sectors: Information Technology & Fintech, Industrial, Real Estate, Sustainable Investments Notable investments: Sword Health, Unbabel, TEKEVER, CorPower Ocean, Primetag, Dourogás GNV

Ventures.EU

Intro: Ventures.eu is a venture capital firm based in Lisbon, Portugal, that was founded in 2024. The firm's roots are in Dealflow.eu, an EU-backed platform for startups and investors. Ventures.eu leverages this network to support promising early-stage companies with both capital and operational expertise. The firm's mission is to empower European startups that are creating innovative solutions. Sectors: Ventures.eu has a strong focus on "deep tech" and artificial intelligence, targeting European tech strengths in: Deeptech (Climate, Health, ICT & Hardware), AI Notable investments: As the firm's debut fund was recently launched, a public portfolio of specific investments is not yet available.

Lisbon VCs 🇵🇹