Investors in Portugal

Created in June 2012, Portugal Ventures assumed a decisive role in the financing and growth of the national entrepreneurship ecosystem.Portugal Ventures was founded in 2012 to drive the global success of Portuguese companies, helping them achieve competitiveness goals in all stages of development.Over the years, we have worked to feed this ambition: to make Portugal Ventures a benchmark venture capital partner in Portugal, designing differentiated strategies for the growth, competitiveness and internationalisation potential for each of our portfolio companies.Portugal Ventures, a venture capital firm that is part of the Banco Português de Fomento group, currently manages 173 million euros and has more than 130 portfolio companies. It invests in startups in the pre-seed, seed and series A stages that offer innovative solutions for the international market in the digital, engineering & industry, life sciences, and tourism sectors. Since 2012, Portugal Ventures has invested 164 million euros in 147 new businesses.

We invest in early stage B2B, deep-tech focused teams, who want to drive digital transformation (with AI/ Data) and climate action (with special focus on the ocean), with potential for scalable distribution and global footprint with a preference for teams with a presence in Southern Europe.

Apheon is a private equity firm specializing in buyout, International expansion, add-on acquisitions, carve-out and industry consolidation investments in lower middle market and mature companies. The firm prefers to invest in niche industrials, healthcare, consumer, services and media. It seeks to invest in Europe, Andorra, Gibraltar, Luxembourg, Netherlands, Iberia, Spain, Portugal, Germany, Switzerland, Italy, Benelux, and France. It typically invests between €10 million ($11.71 million) and €75 million ($87.86 million) in companies having EBITDA between €10 million ($11.71 million) and €60 million ($70.28 million), Enterprise Value upto €300 million ($351.44 million) and turnover between €20 million ($23.42 million) and €100 million ($117.14 million). The firm prefers to take majority stake in portfolio companies. Apheon was founded in 2005 and is headquartered in Luxembourg City, Luxembourg, with additional offices in Europe.

Yellow is a venture capital firm specializing in pre seed, seed and early-stage investments. The firm will invest in both B2B and B2C startups. The firm prefers to invest in Europe with a major focus in Southern Europe, U.K., France, Germany, Nordics and along with Southern Europe areas such as Spain, Italy and Portugal. The firm usually invests from €0.30 million ($0.32 million) to €0.50 million ($0.54 million). Yellow is based in Spain.

Defiant is a venture capital firm. It specializes in directly investing, early-stage, startups, late seed, Series A, series B stages. It prefers to invest in FinTech, SaaS, B2B, B2B software. The firm seeks equity investment between $2 million and $10 million with lead and co-lead investments. It seeks to invest globally with a specific focus Europe. Defiant is based in London, United Kingdom with additional office Lisbon, Portugal.

Sonae IM is the corporate venture capital arm of Sonae, a leading multinational corporation based in Portugal. Established to drive innovation and digital transformation, Sonae IM invests in early-stage technology companies across various sectors, including retail, telecommunications, and technology services. The firm focuses on startups that can leverage Sonae's extensive market presence and operational expertise to scale rapidly. Sonae IM's investment philosophy centers on fostering strategic partnerships that create mutual value, enabling portfolio companies to access Sonae's resources, customer base, and market insights. This collaborative approach aims to accelerate growth and enhance the competitive edge of both Sonae and its portfolio companies. Over the years, Sonae IM has built a diverse portfolio, contributing to the advancement of innovative solutions in the retail and technology landscapes. The firm's commitment to innovation is exemplified by its involvement in pioneering projects, such as the launch of Europe's first cashierless supermarket in Lisbon, developed in collaboration with the Portuguese startup Sensei. This initiative reflects Sonae IM's dedication to embracing cutting-edge technologies and transforming traditional business models to meet evolving consumer needs.

HCapital is an independent private equity firm investing in a broad spectrum of companies through dedicated funds, covering stages from start-ups (Venture Capital) to mature businesses (Private Equity).

3xP Global is a private equity firm specializing in Growth & Expansion stages and Series A companies. It seeks to invest in Equity, Preferred Equity, Debt-Equity Mezzanine Loans and Convertible Notes, Equity w/ Put Option, M&A, IPO, SPACs transactions. The firm is sector agnostic but specifically prefers to invest in Health & Life Sciences, Energy Efficiency, Blue Economy sectors. It prefers to invest in America, Asia and Europe with specific focus on Portugal. The fund prefers to invest between €1 million ($1.05 million) and €10 million ($10.54 million) in investments. It seeks to invest in co- investment, quasi-capital investments. 3xP Global is based in Lisbon, Portugal.

Seven2 sas is a private equity firm specializing in middle markets, later stage, carve-outs of business divisions from French or multinational corporations, public to private operations (PtoPs), and leveraged buyout in mid-caps and small and medium-sized companies. It seeks to invest in technologies, telecom, retail and consumer, media, healthcare, and business and financial services sectors. In information technology sector the firm focuses on high-tech goods and services, software technologies, hardware, emerging application segments, and services based on the mastery of new technologies. In specialized retail and consumer, it typically invests in home appliances, household goods and services, specialty retail chains, personal equipment, direct retail and e-commerce, business to business distribution, and consumer goods. In the media sector the firm seeks to invest in professional and technical publishing, broadcasting, business to business publishing, business, scientific and technical information, marketing, research, and design service companies, traditional and online, media agencies, rights, premium content and the supply of Internet content. It seeks to make investments in the telecommunications sector in segments including infrastructure and services, telecom operators, cable operators and technology companies, voice-data-video convergence, and development of new mobile services. The firm also invests in business and financial services in outsourced services focusing on financial services, business process outsourcing, services related to energy and environment. It makes investments in healthcare sectors with a focus on medical devices and services companies including private sector hospital treatment focusing on therapy of new medications or new forms for administering drugs, pharmaceutical laboratories, medical equipment, dermo-cosmetics, galenic development, and services and databases for health organizations, and health services including hospitalization structures, home health care, and medical analysis. The firm seeks to invest in companies based in French-speaking countries including France and Europe. It also invests in Turkey, Australia, Japan, South Korea, New Zealand, North Korea, Austria, Belgium, Denmark, Finland, Germany, Greece, Iceland, Italy, Belgium, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Czech Republic, Hungary, Poland, Slovakia, Mexico, Chile, United States and Canada. It prefers to invest in equity investment between €3.47 million ($3.79 million) and €250 million ($273.2 million) in Mid-Market €50 million ($54.65 million) and €250 million ($273.2 million) and Development: €15 million ($16.40 million) and €50 million ($54.65 million) with sales value between $13.34 million and $2732.9 million and enterprise value between $10.88 million and $1113.52 million. The firm may co-invest with others. It seeks to acquire majority or significant minority stakes and a board seat in its portfolio companies. It prefers minority position if the transaction is based on a genuine partnership with the management team, which confers them certain rights. The firm typically invests for a period of five to seven years on average. It seeks to exit its investments through trade sales, IPOs, secondary buyouts, as well as partial sales, and recaps. Seven2 sas was founded in 1972 and is based in Paris, France with additional offices in Europe.

Founded in 2006, ECS is a leading private equity and restructuring firm focused on the Portuguese market. ECS currently manages four funds directly in Portugal. Our mission is to release the potential of our fund’s companies, partnering with management teams and stakeholders, generating sustainable long term returns. The firm decides on investment structures and acts as lead equity investor not only in companies with significant growth potential, but also distressed companies that have long-term economic potential. ECS investment activities are focused on expansion capital financing, management buy-ins, management buy-outs, buy-and-build and recapitalizations.

LC Ventures is a venture capital firm specializing in pre seed, seed, series A, startups, early-stage and late venture investments. The firm prefers to invest through growth capital. The firm seeks to invest in innovative technology. It focuses on software only solutions. The firm typically invests in Europe, North America and Latin America. It also invests in companies based in Portugal, namely in North, Centre, Lisbon and Alentejo regions. LC Ventures was founded in 2015 and is based in Lisbon, Portugal.

We are an investment group where purpose and strategy are perfectly aligned. Driven by agility and execution, we actively support our community, foster collaboration, and build trusted relationships with our partners and investors. Our mission is clear: Turning Vision into Value, Together.At OW Ventures, we’re known for being a reliable and forward-thinking Fund Manager. We’ve got a solid track record of delivering consistent results, and we’re all about using innovation in our operations, products and services.

We invest in SaaS, Fintech, Healthtech, Blockchain, Cybersecurity, B2B Software, Marketplaces with $1M+ in ARR/Revenue

33N Ventures is a venture capital firm investing in Cybersecurity, AI, and Dual-Use Defense sectors. 33N invests across Series A to D — leading or co-leading early-stage rounds (Series A and B) and continuing to back companies through growth stages (Series B+, C and D). The firm invests globally, with a special focus on companies in Europe, North America, and Middle East making equity investments from EUR 4 million to EUR 12 million. 33N Ventures was founded in 2022 and is present in Portugal, the USA, Luxembourg, and Middle East.

APEX Capital is a sports-focused investment firm that partners with professional athletes to invest in the Sports, Media, and Entertainment industries. Their investment strategies encompass Venture Capital, Growth, and Private Equity, targeting companies from early-stage startups to established properties. By leveraging the unique perspectives and networks of elite athletes, APEX aims to unlock exclusive opportunities and create long-term value across its investments. The firm emphasizes a collaborative approach, combining financial expertise with the strategic insights of its athlete partners to drive innovation and growth in the sports sector. APEX's portfolio includes investments in companies like Scoreplay, Output Sports, and Baller League, reflecting its commitment to supporting ventures that are reshaping the sports landscape.

Arif Saiyad & Associados (ASA) Ventures, established in 2003 in Portugal and headquartered in Dubai, works on hybrid models of Venture Capital. ASA is the combined strength of professional expertise and smart capital coming together, aiming to add value to the start-up ecosystem with a unique investment philosophy and in-house expertise working collectively making the investments and ventures successful. ASA’s diverse investment portfolio is composed of B2B and B2C companies spanning over various industries: from customer satisfaction, business optimization, retail, fashion, connectivity, networking, all the way to tech media. The group sees its presence in developing countries as a significant opportunity, allowing us to circulate ideas, research, technologies, talent, and best practices. ASA currently has operations in 5 countries with expansions planned into 5 more, all of which are developing economies with high growth potential and market gaps. ASA realizes that while consumers are primed and ready to lead digitally enhanced lives, businesses and governments have not fully embraced the digital opportunities yet; and that’s where ASA makes its mark. With extensive experience in developing and investing into startups and well-established investment process, ASA secures high-quality assets at attractive valuations; and with extensive technical and operating expertise on the international stage and well-established operating models evident through profitable sales and value, ASA turns around its portfolio companies into leaders in their domains. At ASA, we realize that digital solutions change the economics of doing business across borders, bringing down costs, creating markets, and user communities with global scalability; thus providing our businesses with a huge base of potential customers and effective ways to reach them.

We invest in Series A rounds from companies based in the countries where the bank has activity (Spain, Portugal, Ireland..).

Best Horizon is an investment firm that helps startups grow worldwide, utilizing EU financing and co-financed projects to support business development.

Beta Capital is a private equity and venture capital firm specializing in direct and fund of funds investments. Within direct investments, the firm invests in seed/startup, early-stage, recapitalization, bridge financing, industry consolidation, and buyout in small and medium sized companies. Within fund of funds, it invests in Venture Capital Funds. The firm seeks to invest in new technology-intensive businesses; new products and services; new technology-based projects; disruptive technologies; Information Technologies; energy; information and communication technology; electronic; new materials; renewable energies; and biotechnology. It may include other industry sectors for projects of excellent features. The firm seeks to invest in Portugal. It seeks to invest between €0.25 million ($0.27 million) and €1 million ($1.09 million) in equity, and a maximum of $0.08 million in debt investments. The firm is particularly interested in university spin-offs and technology transfer from universities or other research centers. It takes minority positions on invested companies. The firm normally invests for a period of four years to six years, but it can hold its investments for a longer period in special cases. It seeks to exit when the project reaches a higher stage of development leading it to other type of investors, namely corporate investors, or traditional venture capital companies. The firm invests via its fund or its own capital. Beta Capital was founded on September 24, 2003, and is based in Porto, Portugal.

Pontos is a family owned private equity and real estate investment company operating in Finland, the Baltic States and Portugal.All the investments are done from our own balance sheet. We act as a mid- or long-term investor. Our goal is to secure sustainable growth in all our partnerships and investments. Pontos invests into private equity and real estate in Finland, the Baltic States and Portugal. Our approach is exceptionally flexible and we can act as a minor or major shareholder depending of the total investment value. The net value of our portfolio is over 300M€.

ProA Capital is an independent private equity firm based in Madrid, Spain, established in 2007. The firm specializes in mid-market investments, focusing on leveraged buyouts, management buyouts, and growth capital across various sectors, including agriculture, food and drink, biotechnology, technology, and transportation. ProA Capital primarily targets unlisted companies in Spain and Portugal, while also considering international opportunities.The firm invests between €10 million and €100 million, often acquiring a majority or controlling stake in its portfolio companies. ProA Capital emphasizes collaboration with management teams to develop growth projects. It integrates Environmental, Social, and Governance (ESG) factors into its investment strategies, implementing comprehensive ESG action plans across its portfolio to promote sustainability and responsible investment practices.

Nexxus Iberia is an investment company led by a team with more than 20 years of experience in Spain, Portugal and Mexico. He has a physical presence in Latin America by being associated with Nexxus Capital, the leader in the Mexican market with more than two decades of experience.

We invest in unique founders from Portugal and Spain in cloud, SaaS and e-commerce.

VERVE CAPITAL, Inc. is venture capital firm specializing in early-stage investments. The firm prefers to invest in Ed Tech, enterprise solutions, fin tech, health tech, Insurtech, log tech, media tech, music tech, philanthropy tech, retail tech, and sport tech. It primarily invests in the United Kingdom, Argentina, Brazil, Mexico, Portugal, and the United States of America. VERVE CAPITAL, Inc. was founded in 2018 and is based in São Paulo, Brazil with additional office of Miami, Florida.

Cathay Capital Private Equity SAS is a private equity and venture capital firm specializing in investments in growth capital, acquisition, mezzanine, PIPEs, small cap, mid-cap, leveraged buyouts, MBOs, capital increases and capital restructurings, industry consolidation, recapitalization, shareholding restructurings, and international expansion, buy-and-builds, carve-outs, co-investments. The firm seeks to invest in seed, start-ups, middle market, mature, late venture, later stage, growth stage, and midsize companies. It invests in all sectors particularly in business and industrial products and services, fintech, healthcare products and services, life sciences, telecommunication, online consumer electronics retail, online beauty care product & stores, pharmaceuticals, fertilizers, agricultural machinery, internet service, products & services, data processing & outsourced services for insurance industry, air freight, automobiles, household durables, leisure products, textiles, casino,travel & tourism, B2B commerce, insurance industry related tech hardware, beauty care services, AI software, system software for insurance industry, logistics software, property management software, automation product, security software, communication equipment, consumer brands/retail concepts, software, technology, digital, online insurance service, e-commerce software, financial software, IT consulting services to insurance industry, media, and automotive and mobility ecosystem with a focus on core technologies for cars. In China, the firm targets fast growing companies in sectors including environment, healthcare tech, online bill payment services, online trading systems, educational & training software, children-focused businesses, agri-businesses, logistics, and household equipment that capitalises on rapid urbanisation, with less focus on majority stakes. The firm targets investments globally with a focus on companies in North America, China, Europe, Asia, Africa with a focus on South and North Korea, Turkey, New Zealand, Australia, Austria, Japan, Luxembourg, Denmark, Finland, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Portugal, Czech Republic, Sweden, UK, Estonia, Hungary, Poland, Slovakia, Slovenia, Mexico, Chile, Germany, France, Hong Kong, Spain, Switzerland, and German Mittelstand. It seeks to make cross border investments in mid-size French companies faced with a booming Asian economy as well as a partner for an increasing number of Chinese companies seeking a European foothold. It also invests in OECD countries. It seeks to allocate around 40 per cent each to France and China and the rest to Europe, with a core focus on Germany. The firm primarily invests between €5 million ($5.31 million) and €75 million ($79.78 million) in transactions ranging in value from €2 million ($2.12 million) and €15 million ($15.95 million). In cases of growth capital and leverage buyouts the value of each transaction is atleast €120 million ($127.66 million).It invests in companies with EBITDA between $2 million and $30 million and enterprise value of less than €100 million ($111.45 million). It invests in companies with revenues between $4.24 million and €400 million ($425.53 million) and turnover between €20 million ($21.27 million) and €400 million ($425.53 million). It seeks to have a board seat or observation right in all portfolio companies. The firm seeks to acquire minority or majority stakes alone or as part of a consortium of investors. It seeks to invest in companies whose growth can be fostered from new or enhanced cross-border and domestic development strategies. It seeks to co-invest. The firm seeks to be an ethic of sustainable development, based on social and environmental responsibility criteria. The firm holds its investments for five years. Cathay Capital Private Equity SAS was founded in 2007 and is based in Paris, France with additional offices in Shanghai, China; Beijing, China; New York, New York; San Francisco, California; Tel Aviv, Israel; Singapore, Shenzhen, China, Munich, Germany, Berlin, Germany and Madrid, Spain.