Venture capital firms in Portugal

Portugal has 34 active venture capital firms and 65 active angels in our database, and 377 investors worldwide have already backed a Portuguese startup. Seed is the busiest stage, and Portugal Ventures, Explorer Investments and Shilling VC lead by Portuguese deal count.

99active investors based in Portugal
34VC firms
65Angel investors
377invest here from anywhere
Active at stage
Pre-seed37
Seed76
Series A52
Series B+29
By investor type
VC firms23
Angels65
Private equity9
Other2
Active investors: at least one recent deal and a reachable contact. Headquarters counts use the investor's registered country; the worldwide figure counts any investor with at least one Portuguese portfolio company. In the table, deals are the fund's investments into Portuguese companies, while Last 12 mo counts all of its deals in the past year. Source: Fundraisly investor database, September 2026.

The most active investors in Portugal

InvestorTypeDeals in PortugalLast 12 moLeadsHQ
Portugal Venturesportugalventures.pt
VC317
3
YesPorto
Explorer Investmentsexplorerinvestments.com
PE77
3
YesLisboa
Shilling VCshilling.vc
VC58
9
YesLisbon
VC48
3
YesLisboa
Lince Capitallince-capital.com
VC42
4
YesLisbon
LC Ventureslcventures.pt
VC41
1
YesLisbon
Iberis Capitaliberiscapital.com
PE35
3
YesLisbon
VC31
7
YesMaia
VC25
7
YesLisbon
Faberfaber.vc
VC24
6
YesLisbon

What the numbers say about Portugal

34 VC firms and 65 angels are based in Portugal

Only 23 of the 34 funds are classic VC firms. The rest are syndicates, family offices and private equity

Seed is the busiest stage. 76 active investors, Series A follows with 52

27 of the 34 funds have already backed a Portuguese company, and 22 of them led the round

How a founder raised from investors like these

Frequently asked

Q1

Do I need a Portuguese investor to raise in Portugal?

No. 377 investors worldwide have already backed at least one Portuguese startup, against 99 based in the country. Domestic and foreign investors are usually mixed in one round; a local lead mostly helps with follow-on and with public co-investors.

Q2

How many investors do founders contact to get meetings?

Founders in our Raise Benchmarks reached 45 to 900 investors per round. EchoWi closed €750K from 8 investors after 4 first meetings. Besample reached 900 investors for 55 first meetings. A wide, well-targeted list beats ten warm names.

Q3

How do I get a warm intro to these investors?

Fundraisly's Warm Intro maps your team's LinkedIn connections against every investor in this database and shows which of these funds and angels a colleague can introduce you to.

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