Top 20 Venture Capital Firms in Portugal for Startups in 2025

Here are the VC firms where Portugal startups are getting funded.

Looking to raise funding in Portugal? These are the VCs you should know.
Portugal is becoming a serious startup hotspot especially for founders in SaaS, AI, healthtech, fintech, and climate tech. These 20 VC firms are active, founder-focused, and ready to help you grow.

1. Portugal Ventures

Location: Porto & Lisbon
Stage: Seed to Series A
Size: €100K–€1.5M
Type: Portuguese early-stage ventures
Sector:

• Tech
• Life Sciences
• Tourism

🌐 Portugal Ventures

2. Armilar Venture Partners

Location: Lisbon
Stage: Seed to Growth
Size: €500K–€10M+
Type: High-tech, IP-rich startups
Sector:

• Deep Tech
• SaaS
• Semiconductors

🌐 Armilar

3. Shilling

Location: Lisbon
Stage: Pre-seed to Series A
Size: €100K–€1M
Type: Ambitious tech startups
Sector:

• SaaS
• Marketplaces
• AI

🌐 Shilling

4. Faber

Location: Lisbon
Stage: Pre-seed to Seed
Size: €250K–€2M
Type: Tech innovators with impact
Sector:

• AI
• Climate
• Data infrastructure

🌐 Faber

5. Bynd Venture Capital

Location: Lisbon
Stage: Seed
Size: €100K–€1.5M
Type: Iberian tech startups
Sector:

• SaaS
• Consumer tech
• Marketplaces

🌐 Bynd VC

6. Explorer Investments

Location: Lisbon
Stage: Growth
Size: Undisclosed
Type: Scalable businesses
Sector:

• Consumer
• Industry-agnostic

🌐 Explorer

7. HCapital Partners

Location: Lisbon
Stage: Seed to Growth
Size: Undisclosed
Type: Impact-oriented scale-ups
Sector:

• Sustainability
• Tech

🌐 HCapital

8. MSM

Location: Lisbon
Stage: Pre-seed to Seed
Size: €100K–€1M
Type: European impact startups
Sector:

• Fintech
• Digital health
• Climate

🌐 MSM VC

9. Pitchdrive

Location: Lisbon (active across Europe)
Pitchdrive is a hands-on pre-seed VC helping startups move fast from pitch to launch. With a focus on SaaS, marketplaces, and AI, they support founders with capital, clarity, and early traction.
Stage: Pre-seed to Seed
Size: €100K–€500K
Sector:

• SaaS
• Marketplaces
• AI

🌐 pitchdrive.com

10. Antler Portugal

Location: Lisbon
Stage: Pre-seed
Size: €100K+
Type: Idea-stage founders
Sector:

• Sector-agnostic

🌐 Antler

11. Polkastarter Ventures

Location: Lisbon
Stage: Seed
Size: Undisclosed
Type: Web3 startups
Sector:

• Blockchain
• DeFi
• Gaming

🌐 Polkastarter

12. Pathena

Location: Porto
A Porto-based VC firm investing in high-tech and healthcare companies with a strong focus on long-term partnerships.
Stage: Seed to Series A
Size: Undisclosed
Sector:

• Biotech
• Enterprise software

🌐 pathena.pt

13. Kibo Ventures

Location: Madrid & active in Portugal
Kibo Ventures is an active investor in Portugal through its European strategy, supporting digital-first startups from seed to Series A.
Stage: Seed to Series A
Size: €500K–€5M
Sector:

• SaaS
• Fintech

🌐 kiboventures.com

14. Basinghall Partners

Location: Lisbon & London
Focused on B2B innovation, Basinghall Partners supports early-stage ventures modernizing enterprise infrastructure.
Stage: Pre-seed to Seed
Size: €250K–€1M
Sector:

• Automation
• Digital infrastructure

🌐 basinghallpartners.com

15. SONAE IM

Location: Lisbon
The corporate VC arm of Sonae Group, investing in cybersecurity, retail tech, and enterprise SaaS.
Stage: Growth
Size: €1M–€10M
Sector:

• Retail tech
• SaaS
• Cybersecurity

🌐 sonaeim.com

16. Startup Lisboa

Location: Lisbon
A startup hub and accelerator offering access to early capital, mentorship, and investor connections for founders in Lisbon.
Stage: Pre-seed
Size: Varies
Sector:

• Sector-agnostic

🌐 startuplisboa.com

17. Indico Capital Partners

Location: Lisbon
One of Portugal’s leading VCs with a pan-European outlook, investing in companies with global scalability.
Stage: Seed to Series A
Size: €500K–€5M
Sector:

• SaaS
• Marketplaces
• Fintech

🌐 indico.vc

18. LC Ventures

Location: Lisbon
A deep tech VC fund backing early-stage science and engineering-led teams in Portugal and beyond.
Stage: Pre-seed to Seed
Size: €100K–€1M
Sector:

• AI
• Healthtech

🌐 lcventures.pt

19. Grow Venture Partners

Location: Lisbon
Focused on helping early-stage startups grow through strategic support, business development, and smart capital.
Stage: Seed
Size: Undisclosed
Sector:

• Agtech
• Edtech

🌐 growvp.pt

20. Beta-i Ventures

Location: Lisbon
Beta-i is a leading innovation hub that also invests in startups through corporate accelerator partnerships and pilot programs.
Stage: Early
Size: Varies
Sector:

• Mobility
• Fintech
• Energy

🌐 beta-i.pt

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Final Thoughts

Portugal’s VC scene is more diverse and international than ever before. Whether you’re building an AI platform, launching a climate-focused startup, or scaling your SaaS product, there’s a VC on this list ready to back you. Align your vision with the right partner and take your next step with confidence.

Read more:

Top 20 Venture Capital Firms in Spain for Startups in 2025

Top 20 Venture Capital Firms in the Netherlands for Startups in 2025

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Top 20 Venture Capital Firms in the UK for Startups in 2025

Top 20 Venture Capital Firms in Germany for Startups in 2025

Top Nordic Venture Capital Firms For Startups (2025)

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