Rushed for time? Here is the top 5 Early Stage Venture investors for Venture Capital startups. Scroll down for more information on these investors or to view the rest of the investors.
Name | Website | Stages | Location | Socials |
---|---|---|---|---|
Armilar Venture Partners | Early Stage Venture, Late Stage Venture, Seed | Lisboa, Lisboa, Portugal, Europe | ||
Bynd Venture Capital | Early Stage Venture, Seed | Lisbon, Lisboa, Portugal, Europe | ||
Faber | Early Stage Venture, Seed | Lisbon, Lisboa, Portugal, Europe | ||
MSM | Convertible Note, Early Stage Venture, Seed | Lisbon, Lisboa, Portugal, Europe | ||
Indico Capital Partners | Early Stage Venture, Seed | Lisbon, Lisboa, Portugal, Europe |
At SeedRound we track over 200,000 investors and over 1,000,000 people who hold key positions in these firms. We use this directory of investors to highlight top employees, LP’s and funding organisations we think deserve more appreciation than they are currently getting.
We’ve ranked the top Venture Capital Early Stage Venture investors in Portugal. The companies, startups and institutions listed in this article are all exceptional companies, well worth a follow. We have included links to their websites, socials and CrunchBase (if you’re interested in their financials).
We selected the organisations listed in this article based on:
- Track record
- Executive leadership
- Market share
- Innovation
- ESG rating
Our Data – We source our data from OSINT (open source intelligence) and public directories such as Crunchbase, SemRush and many more. The data from these sources should be treated with a degree of caution and verified yourself.
Top Venture Capital Investors & Funds (Portugal)

Armilar Venture Partners
Armilar Venture Partners is a venture capital firm, with near 300 million euros of assets under management, represented by worldwide companies with innovative products and services that are improving our world, the way we live, and the way we do business.
Stages: Early Stage Venture, Late Stage Venture, Seed
Location: Lisboa, Lisboa, Portugal, Europe
Industries: Business Development, Financial Services, Venture Capital
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Bynd Venture Capital
Bynd Venture Capital, former Busy Angels, is a Portuguese venture capital investor with more than 30 active investments in the portfolio in different funds. At Bynd Venture Capital we invest in companies: – At the seed / early stage – In IT/Digital and Sustainability (including Lifesciences, Clean Tech, among others) sectors – From Portugal, Spain and any startup that has a direct connection with these markets (founders, tech team, investors, …).
Stages: Early Stage Venture, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Advice, Venture Capital
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Faber
Faber is a Lisbon-based venture capital firm investing in outstanding entrepreneurs who innovate at the intersection of science and technology to drive digital transformation and climate action. The firm combines a specialist focus on deep tech early-stage startups with dedicated funds, investment teams and expert advisors to actively help founders build global companies powered by AI/data or climate/ocean technologies. Faber’s unique approach in Southern Europe is led by an entrepreneurial management partnership and backed by notable thesis-driven institutions and private investors. Investing since 2013, the firm has been an early investor in hard tech companies such as Unbabel, SWORD Health, Codacy, iLoF or YData
Stages: Early Stage Venture, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Angel Investment, Finance, Financial Services, Venture Capital
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MSM
Mustard Seed MAZE is a 40M€ early-stage impact VC fund. We invest in brave founders solving the world’s biggest social and environmental challenges.
Stages: Convertible Note, Early Stage Venture, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Financial Services, Impact Investing, Sustainability, Venture Capital
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Indico Capital Partners
Indico Capital Partners is the leading independent Venture Capital firm in Portugal investing in global technology companies. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Seed to Series A level. Founded in 2017, the team at Indico were previously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs. Headed by the two most senior former Caixa Capital VC Team members, supported by a successful and experienced entrepreneur and a strong group of advisors, top entrepreneurs, they raised our first fund (authorized by the Portuguese Securities Market Commission – CMVM) from a cornerstone institutional investor (EIF) and international family/multi-family offices from Europe, US, and Australia. In addition to Silicon Valley, London, and Berlin, cities like Lisbon have emerging startup ecosystems. Portugal went through a difficult macro environment years ago which led to a growth in the entrepreneurship culture and investment. We have excellent tech graduates and a global mindset. Highly innovative companies like luxury eCommerce platform Farfetch, YC graduate machine learning translation platform Unbabel or the leading student accommodation marketplace Uniplaces have a strong Portuguese DNA and went to raise international rounds in the UK and the US – we want to back the next success stories of the ecosystem.
Stages: Early Stage Venture, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Financial Services, Marketplace, Venture Capital
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Ask Capital
ASK is a finance boutique focused on Small and Medium Enterprises and entrepreneurs to develop their business in the areas of corporate finance, private equity, real estate and asset management. Their diversity of business areas allows you to offer its clients a comprehensive range of services in the financial area. ASK was founded in 2006 by professionals with extensive experience in various traditional investment banking activities. It is present in three countries: Portugal, Brazil and Angola.
Stages: Early Stage Venture
Location: Lisboa, Lisboa, Portugal, Europe
Industries: Finance, Management Consulting, Venture Capital, Wealth Management
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COREangels
COREangels is a global brand of hands-on angels, investing in early stage startups through local portfolio funds. Our funds invest in a portfolio selected by the angels from a pool of startups curated by the leaders. Our angels are doing an incredible job of contributing to their local communities by, not only investing their money in the next generation of entrepreneurs, but also mentoring them, with their experience and network. COREangel funds are co-investing cross borders, sharing good practices, tools and opportunities using one proven model that merges financial outcomes with angel involvement.
Stages: Early Stage Venture, Seed
Location: Ílhavo, Aveiro, Portugal, Europe
Industries: Angel Investment, Impact Investing, Venture Capital
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PME Investimentos
PME Investimentos is a state owned investment company who supports entrepreneurship, innovation, competitiveness and the internationalization of the Portuguese economy. Subject to the supervision of the Portuguese Central Bank, PME Investimentos has been supporting Portuguese companies for the last 30 years through special investment vehicles and funds, investing trough equity instruments and managing debt instruments, in partnership with Banks and the Mutual Guarantee System.
Stages: Debt, Early Stage Venture, Private Equity, Seed
Location: Porto, Lisboa, Portugal, Europe
Industries: Finance, Financial Services, Impact Investing, Venture Capital
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HCapital Partners
HCapital is a Portuguese investment firm, dedicated to the management of private equity funds in Iberian territory either in mature companies in export oriented Iberian medium sized companies, with a growth and value creation perspective and in innovative companies focused on Energy, Smart Territories & Mobility, Industrial Processes and Data & Connectivity, through dedicated funds.
Stages: Early Stage Venture, Late Stage Venture
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Venture Capital
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Bionova Capital
Bionova Capital, previously known as Hovione Capital, is a healthcare-focused venture capital firm, investing in early-stage life science companies. It was founded in 2015 by the shareholders of Hovione, one of the largest pharmaceutical companies in Portugal, with manufacturing and research operations in USA, Ireland, China and Portugal. Bionova Capital invests in groundbreaking therapeutics, medtech and digital health startups across Europe.
Stages: Early Stage Venture, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Biotechnology, Life Science, Venture Capital
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Novabase Capital
Novabase Capital, Sociedade de Capital de Risco, SA is a venture capital firm owned entirely by Novabase SGPS, SA. Its main purpose is to find and support Portuguese ICT business projects – in early development or expanding – with high potential. Novabase Capital has an unique, specific expertise and a long track record in the development of technology-based SMEs throughout Portugal.
Stages: Early Stage Venture, Seed
Location: Lisboa, Lisboa, Portugal, Europe
Industries: Venture Capital
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Semapa Next
Semapa Next is a venture capital firm that invests in teams of exceptional founders from Series A to late-stage funding. We support today the leaders of tomorrow. From Lisbon to Europe. We want to be a long-term partner of exceptional teams that are positively changing the world we live in. Besides investing with patient capital, we bring a mix of entrepreneurial, operational, and financial experience to our investments. Our team and network of advisors has direct experience in Sales & Marketing, Talent Management, Finance, and M&A with businesses across all stages of development. We provide access to Semapa’s Group and its international network of partners to leverage opportunities of business development, technology piloting and world-class expertise in managing and growing global businesses.
Stages: Early Stage Venture, Late Stage Venture, Private Equity
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Financial Services, Venture Capital
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InterCapital
InterCapital is an investment firm focused on early-stage ventures. InterCapital cooperates with outstanding Entrepreneurs, promoting innovative ideas and business models, leading to positive social and environmental impact.
Stages: Early Stage Venture, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Finance, Financial Services, Venture Capital
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Invicta Angels
Invicta Angels – Business Angels Association of Porto (www.invictaangels.pt), is a club which congregates 50 business angels from the Porto region. Invicta Angels is co-founder of FNABA (www.fnaba.org). In the last years they have made several investments in startups, either alone or as a joint venture with other clubs and venture capital funds. Some of the companies in which they have made investments, have already a global focus in their target markets, and are exceeding their initial expectations in revenue generation from overseas. Having this in mind, they intend to periodically inform on their business portfolio their international business partners, business angels and venture capital funds, with whom they have established relations through EBAN (www.eban.org) in Europe, or ACA (www.angelcapitalassociation.org) in the USA. Invicta Angels represents 50 investors, entrepreneurs and senior executives of companies, with extensive experience in business and strong relationships with entrepreneurship through the creation, management and investment companies.
Stages: Early Stage Venture, Seed
Location: Porto, Lisboa, Portugal, Europe
Industries: Finance, Venture Capital
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Building Global Innovators
This initiative results from the partnership between MIT, Sloan Business School, Deshpande Center for Innovation, ISCTE-IUL and MIT-Portugal, a collaboration of the leading 12 engineering and science universities in Portugal. Besides the reputation of the various partners and respectful results attained in just over 2 editions, these entities have in common the ambition of continually working towards and with the community, to creating value, through high-tech companies and jobs.
Stages: Crowdfunding, Debt, Early Stage Venture, Grant, Private Equity, Seed
Location: Lisbon, Lisboa, Portugal, Europe
Industries: Finance, Financial Exchanges, Financial Services, Health Care, Information Technology, Venture Capital
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MAZE
We work alongside impact ventures and investors to scale effective solutions for social and environmental challenges. We address this through 3 main areas of activity: a 35M€ VC Fund, which invests in early stage impact ventures; an impact accelerator, Maze X; and the Government Performance team which works the public sector to improve social services.
Stages: Early Stage Venture, Seed
Location: Lisboa, Lisboa, Portugal, Europe
Industries: Financial Services, Impact Investing, Social Impact, Sustainability, Venture Capital
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ASA Accelerator
ASA helps you build your business by offering hands-on support in areas such as finding your product market fit, building sales, and marketing capabilities and establishing connections through our global network.
Stages: Early Stage Venture, Late Stage Venture, Seed
Location: Loulé, Faro, Portugal, Europe
Industries: Angel Investment, Management Consulting, Venture Capital
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