The goal of this post is to provide visibility to entrepreneurs about the Venture Capital funds that have raised funds recently. For that, I have compiled a list of funds that have announced new funds or have active funds. The list also provides information about which funds are active in Portugal, the size of the funds, geographic/theme/stage focus, among other interesting facts. A similar database with European funds can also be found here. I have also analyzed the aggregated numbers.
Top Venture Capital Firms and Business Angels in Portugal
If you want to contribute with additional information, you can contribute here.
1. Analysis
1.A. Yearly evolution
| Year | Estimated amount raised | # of new funds |
| 2020 | €130,723,623 | 14 |
| 2019 | €184,000,000 | 5 |
| 2018 | €173,182,970 | 30 |
1.B. Capital available to be invested (estimation)
1.C. Number of investors with active funds (estimation)
2. List of latest funds announced
2020
Fund manager: MAGNIFY (https://magnify.partners/)https://magnify.partners/)
Fund target size: €50,000,000
Fund: Inception Fund
Stage: Pre-seed / Seed / Series A
Themes: Drug Development, Medtech, Diagnostics, Digital Health
Geographic coverage: Portugal, Southern Europe
Announcing/beginning of investment date: Dec/2020
Estimated investment period: 5 years
Fund manager: Faber Ventures (www.faber-ventures.com)
Fund target size: €33,000,000
Fund: II
Stage: Seed
Themes: Data driven, Artificial Intelligence, Big data
Geographic coverage: Iberia
Announcing/beginning of investment date: Nov/2020
Estimated investment period: 5 years
Fund manager: Portugal Ventures (www.portugalventures.pt)
Fund target size: €6,514,089
Fund: IFD Capital de risco 2 – Madeira e Açores
Stage: Pre-seed / Seed
Themes: Agnostic
Geographic coverage: Madeira, Açores
Announcing/beginning of investment date: Sep/2020
Estimated investment period: Until end of 2021
Fund manager: Quadrantis Capital (www.quadrantiscapital.com)
Fund target size: €2,855,782
Fund: IFD Capital de risco 2 – Madeira e Açores
Stage: Pre-seed / Seed
Themes: Agnostic
Geographic coverage: Madeira, Açores
Announcing/beginning of investment date: Sep/2020
Estimated investment period: Until end of 2021
Fund manager: VSM Capital (https://vsmcapital.pt)
Fund target size: €127,450
Fund: IFD Business Angels 3 – Açores e Madeira
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Madeira
Announcing/beginning of investment date: Sep/2020
Estimated investment period: Until end of 2021
Fund manager: Wundersight (https://www.wundersight.co.uk/)
Fund target size: €258,665
Fund: IFD Business Angels 3 – Açores e Madeira
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Madeira, Açores
Announcing/beginning of investment date: Sep/2020
Estimated investment period: Until end of 2021
Fund manager: Best Horizon (www.besthorizon.pt)
Fund target size: €325,000
Fund: IFD Business Angels 3 – Açores e Madeira
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Açores
Announcing/beginning of investment date: Sep/2020
IEstimated investment period: Until end of 2021
Fund manager: Flagrantopportunity (https://www.linkedin.com/in/mario-genesio-a27a50/)
Fund target size: €325,000
Fund: IFD Business Angels 3 – Açores e Madeira
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Açores
Announcing/beginning of investment date: Sep/2020
Estimated investment period: Until end of 2021
Fund manager: Vega Ventures (https://vegaventures.pt/)
Fund target size: €325,000
Fund: IFD Business Angels 3 – Açores e Madeira
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Açores, Madeira
Announcing/beginning of investment date: Sep/2020
Estimated investment period: Until end of 2021
Fund manager: Armilar Venture Partners (www.armilar.com)
Fund target size: Unknown
Fund: CONTINUITY FUND
Stage: Growth
Themes: Armilar portfolio companies
Geographic coverage: N/a
Announcing/beginning of investment date: Sep/2020
Estimated investment period: 5 years
Fund manager: Shilling Capital Partners (http://www.shillingcapital.com)
Fund target size: Unknown
Fund: Founders Fund
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Portugal
Announcing/beginning of investment date: Ago/2020
Estimated investment period: 5 years
Fund manager: Bright Pixel (https://brpx.com/)
Fund target size: Unknown
Fund: Founders Fund
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Portugal
Announcing/beginning of investment date: Ago/2020
Estimated investment period: 5 years
Fund manager: Indico Capital Partners (www.indicocapital.com)
Fund target size: €12,000,000
Fund: Accelerator fund I
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Portugal
Announcing/beginning of investment date: Jul/2020
Estimated investment period: 5 years
Fund manager: Armilar Venture Partners (www.armilar.com)
Fund target size: €10,000,000
Fund: V – 5G Nos
Stage: Pre-seed
Themes: 5G, Network technology, Internet of Things, Data & Analytics, Cloud Computing, Augmented/Virtual Reality, Cyber Security
Geographic coverage: Portugal
Announcing/beginning of investment date: Jun/2020
Estimated investment period: 5 years
2019
Fund manager: Bynd (https://www.bynd.vc/en)
Fund target size: €10,000,000
Fund: III
Stage: Pre-seed
Themes: Agnostic
Geographic coverage: Iberia
Announcing/beginning of investment date: Oct/2019
Estimated investment period: 5 years
Fund manager: Fundo para a Inovação Social (https://www.fis.gov.pt/)
Fund target size: €55,000,000
Fund: FIS Capital
Stage: Pre-seed to Series A
Themes: Social Impact
Geographic coverage: Portugal
Announcing/beginning of investment date: Jul/2019
Estimated investment period: 5 years
Fund manager: Armilar Venture Partners (www.armilar.com)
Fund target size: €60,000,000
Fund: V Techtransfer
Stage: Pre-seed to Series A
Themes: Technology transfer from Universities, Deep-tech, ICT, HealthTech, CleanTech
Geographic coverage: Portugal, Europe
Announcing/beginning of investment date: Feb/2019
Estimated investment period: 5 years
Fund manager: Indico Capital Partners (www.indicocapital.com)
Fund target size: €54,000,000
Fund: I
Stage: Seed / Series A
Themes: B2B SaaS, Artificial Intelligence, Fintech and Cybersecurity to Marketplaces and B2C Platforms
Geographic coverage: Iberia
Announcing/beginning of investment date: Feb/2019
Estimated investment period: 5 years
Fund manager: Pathena (http://www.pathena.com/)
Fund target size: Unknown
Fund: II
Stage: Seed / Series A
Themes: ICT, Digital Health
Geographic coverage: Portugal
Announcing/beginning of investment date: Jan/2019
Estimated investment period: 5 years
2018
Fund manager: Mustard Seed Maze (https://mustardseedmaze.vc/)
Fund target size: €40,000,000
Fund: I
Stage: Seed / Series A
Themes: Social Impact
Geographic coverage: Portugal, Europe
Announcing/beginning of investment date: Nov/2018
Estimated investment period: 5 years