About BGI
BGI, an accelerator and incubator program founded in 2010, is based in Lisbon, Portugal. With a presence in 16 countries, it has supported around 129 startups in sectors like Enterprise Applications, High Tech. As of Jul 2026, BGI has 2 unicorns under its belt and has witnessed 10 portfolio exits. Most notable companies in
its portfolio include Vodafone, Sword Health and Feedzai. The program is backed by a team of 4 people who primarily support Seed startups based in Portugal. Its latest investment was a Undisclosed Series A round in Shiptimize on Jul 20, 2018.
BGI's List of Top Investments
BGI has a portfolio of 129 companies, including 2 unicorns. Their most notable investments are in Lipowise and doDOC.Their portfolio spans across Portugal, United States, Italy and 13 more locations. They have invested in Enterprise Applications, High Tech, HealthTech and 28 other sectors, across stages such as Seed, Grant (prize money) and 1 more. Here is the list of top investments by BGI:1. Vodafone
Virtual card-linked wallet for consumer payments. Enables to reflect expenses on the invoice, check transaction history, top-up wallet balance with debit or credit cards, pay for online shopping, and more. Application is made available on Android and iOS platforms. In 2022, the company recorded annual revenues of $49.74B and a net profit of $2.25B.
Key facts about Vodafone
- Founded Year: 1982
- Location: Newbury (United Kingdom)
- Stage: Public
- Employee Count: 148,983 as on Mar 31, 2026
- Investors: Elliott Management, Cevian and 12 Others
- Latest Funding Round: Grant (prize money), Jan 17, 2025, $*****
- Highlight: Public
2. Sword Health
Provider of AI-powered digital physical therapy and pelvic health solutions. It offers an expert AI Care for pain through digital physical therapy that pairs AI and licensed clinicians. It uses artificial intelligence and licensed clinicians to deliver virtual care for musculoskeletal conditions, pelvic health, mental health, and cardiometabolic health. It focuses on reducing healthcare costs by preventing surgeries, reducing pain, and improving recovery outcomes through virtual care.
Key facts about Sword Health
- Founded Year: 2015
- Location: New York (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $450M
- Employee Count: 1,189 as on May 31, 2026
- Investors: Sapphire Ventures, Bond Capital and 37 Others
- Latest Funding Round: Series E, Jun 17, 2025, $*****
- Highlight: Editors' Pick
3. Feedzai
Provider of an AI-native platform for fraud and financial crime prevention. The platform offers solutions for scam prevention, identity verification, fraud detection, and anti-money laundering compliance. It includes features such as new account fraud prevention, transaction monitoring, and risk management. The platform serves industries including retail banks, payment service providers, and government entities. It helps to ensure trusted digital identity and reduce compliance costs.
Key facts about Feedzai
- Founded Year: 2011
- Location: San Mateo (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $347M
- Employee Count: 865 as on May 31, 2026
- Investors: Sapphire Ventures, Demtech and 29 Others
- Latest Funding Round: Series E, Oct 02, 2025, $*****
- Highlight: Editors' Pick
4. D-Orbit
Operator of orbital transportation, in-orbit servicing, and mission control software. The company provides last-mile satellite delivery and space waste management services. It offers solutions for hosted payload operations and space cloud computing. The company also develops systems and components for traditional and new space markets.
Key facts about D-Orbit
- Founded Year: 2011
- Location: Fino Mornasco (Italy)
- Stage: Series D
- Total Funding till date: $223M
- Employee Count: 427 as on May 31, 2026
- Investors: United Ventures, Indaco Venture Partners and 33 Others
- Latest Funding Round: Series D, Jan 22, 2026, $*****
- Highlight: Editors' Pick
Provider of urban mobility solution for cities. Their solution facilitating better urban mobility, create systemic solutions that will move more people around the city, bring key players in urban mobility together to avoid fragmentation, engage cities & citizens, and more.
Key facts about EIT Urban Mobility
BGI's Year-on-Year Investment Trends
BGI has invested in 129 companies over the last 16 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Shiptimize.BGI's Investments by Stage
BGI has made 27 investments in Seed stage with an average round size of $1.05M, 2 investments in Grant (prize money) stage with an average round size of $125K and 1 investment in Series A stage.Stage of entry | No. of Investments |
|---|---|
Seed | 27 |
Grant (prize money) | 2 |
Series A | 1 |
Note: We have considered here, only first round of investments
BGI's Investments by Sector
BGI has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, Life Sciences, Retail and HealthTech. Notably, it has invested in 93 Tech companies, 82 Enterprise (B2B) companies, 64 Software companies and at least 48 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 9 |
Consumer | 8 |
Life Sciences | 5 |
Retail | 5 |
HealthTech | 4 |
Others | 28 |
Note: We have considered here, only first round of investments
BGI's Investments by Geography
BGI has made most investments in Portugal (16), followed by United States where it has made 3 investments.Country | No. of Investments |
|---|---|
Portugal | 16 |
United States | 3 |
Italy | 2 |
Sweden | 2 |
United Kingdom | 2 |
Others | 6 |
Note: We have considered here, only first round of investments
BGI's recent investments
BGI has not made any investment in 2026 so far.Here are the most recent investments by BGI:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 20, 2018 | Portugal | Series A | 8866 | - | |
Jul 18, 2018 | Portugal | Seed | 1375 | - | |
Jul 19, 2016 | Portugal | Seed | 2057 | - | |
Jul 19, 2016 | Portugal | Seed | 3204 | - | |
Jul 19, 2016 | Brazil | Seed | 2890 | - |
Unicorns in BGI's Portfolio
BGI has 2 unicorns in its portfolio - Sword Health and Feedzai. The most recent unicorn in their portfolio is Sword Health. It became a unicorn in 2021, 4 years before BGI first invested in it.Here is a list of unicorns in BGI's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
74 | Provider of AI-powered digital physical therapy and pelvic health solutions | 2015 | New York | Series E | fswpwab | ||
66 | Provider of an AI-native platform for fraud and financial crime prevention | 2011 | San Mateo | Series E | {wjodfw |
IPOs and Publicly Listed companies in BGI's Portfolio
2 of BGI's portfolio companies have become public. Vodafone got listed on the London Stock Exchange (LSE), in Oct 1988.Here are BGI's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 26, 1988 | - | - | 6951 | |
- | Nov 30, 2015 | Seed | 2924 |
Acquired companies in BGI's Portfolio
8 companies from BGI's portfolio have been acquired. The most recent acquisition was Meight in Nov 2025 by Mondevo Group for $*****.Here are BGI's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 18, 2025 | - | - | 3174 | |
Nov 21, 2023 | Nov 28, 2013 | Seed | 1240 | |
Aug 03, 2022 | - | - | 9661 | |
Mar 19, 2021 | Dec 22, 2014 | Seed | 9542 | |
Feb 02, 2021 | - | - | 6665 |
Team profile of BGI
BGI has a team of 4 members including 1 Partner and 1 Principal located in Portugal and Czech Republic. BGI's team does not sit on the board of any company as of now.Co-investors of BGI
Over the past 16 years, 35 investors have co-invested in BGI's portfolio companies. This includes funds and angels.
- Invested before BGI: Portugal Ventures, Luiss Enlabs and 2 others have invested in rounds before BGI. There is 1 company where Portugal Ventures has invested before BGI and 1 company where Luiss Enlabs has invested before BGI.
- Top Co-investors of BGI: Breed Reply entered a company along with BGI.
- Invested after BGI: A total of 30 investors have invested in BGI's portfolio after their investments. Top Investors include Europa (4 companies) and Midroc (1 company).
Recent News related to BGI
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