About Portugal Ventures
Portugal Ventures is a venture capital firm founded in 2012. It is primarily based out of Porto, Portugal. As of Jul 2026, Portugal Ventures is an active investor, having invested in 286 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in Portugal based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Seed round of BRAINR Overall, Portugal Ventures portfolio has seen 3 unicorns, 3 IPOs and 20 acquisitions including key companies like Glovo, Fever and BitSight. A lot of funds co-invest with Portugal Ventures, with names like Bynd Venture Capital sharing a substantial percentage of its portfolio. Portugal Ventures has team of 38 people including 6 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
Portugal Ventures' List of Top Investments
Portugal Ventures has a portfolio of 286 companies, including 3 unicorns. Their most notable investments are in XLR8 and Graphenest.Their portfolio spans across Portugal, United States, France and 11 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 35 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Portugal Ventures:
1. Glovo
Operator of an online platform for on-demand delivery services. The platform facilitates the ordering and delivery of various items. These items range from food and groceries to pharmaceutical products and other retail goods. The platform connects customers with local businesses and independent couriers.
Key facts about Glovo
- Founded Year: 2015
- Location: Barcelona (Spain)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.16B
- Employee Count: 15,437 as on Jul 31, 2026
- Investors: GR Capital, La Maison Partners and 61 Others
- Latest Funding Round: Series F, Apr 01, 2021, $*****
- Highlight: Acquired
2. Fever
Operator of a platform for booking tickets to various events. The platform allows users to discover and book experiences such as concerts, festivals, immersive exhibits, and other cultural or recreational activities. Support is available via email, live chat, or phone.
Key facts about Fever
- Founded Year: 2014
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $777M
- Employee Count: 5,597 as on Aug 31, 2026
- Investors: Goldman Sachs, Fidelity Investments and 27 Others
- Latest Funding Round: Series F, Sep 17, 2026, $*****
- Highlight: Editors' Pick
3. BitSight
Provider of cyber risk intelligence and exposure management solutions powered by AI. The company offers solutions for exposure management, third-party risk management, and cyber threat intelligence. It provides services such as continuous monitoring, vendor risk assessment, and security ratings. The company’s platform helps organizations detect, prioritize, and mitigate threats across their attack surface. It offers governance and reporting tools to improve security posture.
Key facts about BitSight
- Founded Year: 2011
- Location: Boston (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $398M
- Employee Count: 687 as on Aug 31, 2026
- Investors: Liberty Global, Singtel Innov8 and 16 Others
- Latest Funding Round: Series E, Sep 13, 2021, $*****
- Highlight: Editors' Pick
4. OutSystems
Developer of a low-code platform with AI-powered application development capabilities. The platform enables the creation of enterprise applications and custom agents. It facilitates the automation of workflows and processes. The platform also allows for integration with existing systems.
Key facts about OutSystems
- Founded Year: 2001
- Location: Linda A Velha (Portugal)
- Annual Revenue: £0 - £1M as on Feb 28, 2024
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $803M
- Employee Count: 2,238 as on Aug 31, 2026
- Investors: Goldman Sachs Investment Partners, General Atlantic and 13 Others
- Latest Funding Round: Series F, Oct 30, 2022, $*****
- Highlight: Editors' Pick
Provider of AI training data and solutions for machine learning. It offers datasets for speech recognition, medical image analysis, and content moderation. The company provides services such as data annotation, machine translation, and conversational AI development. It also offers data and model evaluation, plus multilingual AI agent support.
Key facts about Defined Crowd
- Founded Year: 2015
- Location: Seattle (United States)
- Stage: Series B
- Total Funding till date: $69.9M
- Employee Count: 219 as on Aug 31, 2026
- Investors: Mastercard, Kibo Ventures and 12 Others
- Latest Funding Round: Series B, Jan 25, 2024, $*****
- Highlight: Editors' Pick
Portugal Ventures' Year-on-Year Investment Trends
Portugal Ventures has invested in 286 companies over the last 19 years, with an average of 7 new investments annually in the last 10 years. In 2025, it made 3 investments, while as of Jul 2026, it has made 1 investment in this year. Its most recent first time investment was in BRAINR and most recent follow-on round was in Hoopers.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 3 | 0 | 3 |
2024 | 5 | 2 | 7 |
2023 | 7 | 3 | 10 |
2022 | 9 | 4 | 13 |
2021 | 4 | 3 | 7 |
2020 | 5 | 4 | 9 |
2019 | 21 | 0 | 21 |
2018 | 4 | 3 | 7 |
2017 | 4 | 0 | 4 |
Portugal Ventures' Investments by Stage
Portugal Ventures has made 109 investments in Seed stage with an average round size of $1.28M, 20 investments in Series A stage with an average round size of $5.44M, 3 investments in PE stage and 1 investment in Unattributed stage.Stage of entry | No. of Investments |
|---|---|
Seed | 109 |
Series A | 20 |
PE | 3 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Portugal Ventures' Investments by Sector
Portugal Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, High Tech, Vertical SaaS and Retail. Notably, it has invested in 198 Tech companies, 155 Enterprise (B2B) companies, 120 Software companies and at least 87 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 58 |
Consumer | 33 |
High Tech | 22 |
Vertical SaaS | 17 |
Retail | 16 |
Others | 154 |
Note: We have considered here, only first round of investments
Portugal Ventures' Investments by Geography
Portugal Ventures has made most investments in Portugal (113), followed by United States where it has made 7 investments.Country | No. of Investments |
|---|---|
Portugal | 113 |
United States | 7 |
France | 4 |
United Kingdom | 3 |
Netherlands | 2 |
Others | 4 |
Note: We have considered here, only first round of investments
Portugal Ventures' recent investments
Portugal Ventures has made 1 investments in 2026 so far - BRAINR.Here are the most recent investments by Portugal Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 06, 2026 | Portugal | Seed | 7608 | - | |
Aug 06, 2025 | Portugal | Seed | 3948 | - | |
Jul 04, 2025 | Portugal | Seed | 6127 | ||
Jun 20, 2025 | France | Seed | 8604 | [+1] | |
Nov 08, 2024 | Portugal | Seed | 9312 |
Unicorns in Portugal Ventures' Portfolio
Portugal Ventures has 3 unicorns in its portfolio - Fever, BitSight and OutSystems. The most recent unicorn in their portfolio is Fever. It became a unicorn in 2022, 4 years before Portugal Ventures first invested in it.Here is a list of unicorns in Portugal Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
75 | Provider of a digital marketplace for booking live entertainment events | 2014 | New York City | Series F | rxlnjfi | ||
71 | Provider of cyber risk intelligence and exposure management solutions powered by AI | 2011 | Boston | Series E | kzif{gd | ||
68 | Developer of a low-code platform with AI-powered application development capabilities | 2001 | Linda A Velha | Series F | wovkfig |
IPOs and Publicly Listed companies in Portugal Ventures' Portfolio
3 of Portugal Ventures' portfolio companies have become public. Corium got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2014 at marketcap of $52M.Here are Portugal Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 03, 2014 | - | - | 5077 | |
- | Apr 13, 2015 | Seed | 4675 | |
- | Mar 30, 2015 | Seed | 3652 |
Acquired companies in Portugal Ventures' Portfolio
20 companies from Portugal Ventures' portfolio have been acquired. The most recent acquisition was Cleanwatts in Feb 2026 by DWS for $*****.Here are Portugal Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 23, 2026 | - | - | 7154 | |
Jun 01, 2025 | Jan 13, 2015 | PE | 7315 | |
May 02, 2025 | Mar 21, 2017 | Series A | 3739 | |
Nov 12, 2024 | Nov 08, 2022 | Series A | 9002 | |
Jul 11, 2024 | Dec 01, 2015 | Seed | 5532 |
Team profile of Portugal Ventures
Portugal Ventures has a team of 38 members including 6 Partners and 3 Principals located in Portugal. Portugal Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Portugal Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Lisbon | - | - | |
Partner | Lisboa | - | - | |
Partner | Porto | - | - | |
Partner | Portugal | - | - | |
Partner | Lisbon | - | - | |
Partner | Lisbon | - | - | |
Principal | Lisbon | - | ||
Principal | Portugal | - | - | |
Principal | Lisbon | - |
Co-investors of Portugal Ventures
Over the past 19 years, 175 investors have co-invested in Portugal Ventures's portfolio companies. This includes funds and angels.
- Invested before Portugal Ventures: Europa, Bright Pixel Capital and 35 others have invested in rounds before Portugal Ventures. There are 4 companies where Europa has invested before Portugal Ventures and 2 companies where Bright Pixel Capital has invested before Portugal Ventures.
- Top Co-investors of Portugal Ventures: 80 investors entered a company along with Portugal Ventures. These include investors like Bynd Venture Capital (8 companies).
- Invested after Portugal Ventures: A total of 58 investors have invested in Portugal Ventures's portfolio after their investments. Top Investors include Europa (14 companies), EIC Fund (10 companies) and Banco Português de Fomento (8 companies).
Recent News related to Portugal Ventures
•
Brainr Secures Additional €1.5 Million Investment to Fuel International ExpansionFoodBev Media•Jul 06, 2026•BRAINR, Portugal Ventures
•
Proença de Carvalho advises Portugal Ventures on Fever exitIberianlawyer•Apr 13, 2026•Fever, Portugal Ventures
•
Glartek concludes a two million investment round with Portugal VenturesSAPO•Jul 04, 2025•GLARTEK, Portugal Ventures, August One
•
French startup Winalist secures €1M to boost wine tourism and expandEU-Startups•Jun 19, 2025•Winalist, Vessoa Equity, Plug and Play Tech Center, Portugal Ventures
•
Jscrambler Secures $5.2M Investment from Iberis Capital to Strengthen its Position as a Leader in Client-Side ProtectionGlobal Fintech Series•Feb 12, 2025•Jscrambler, Iberis Capital, Ace Capital Partners, Sonae and 1 other
•
Hoopers raises $2.3M to expand in BrazilLatamList•Nov 21, 2024•Hoopers, Buenavista Equity Partners Portugal, Portugal Ventures
•
Hoopepers closes a round of 2.1 million euros to boost its expansion in Latin AmericaEl Referente•Nov 11, 2024•Hoopers, Buenavista Equity Partners, Portugal Ventures
•
Corium Biotech raises €500,000 in a pre-seed round to revolutionize the luxury industryEl Referente•Oct 14, 2024•Corium Biotech by Maia & Muller - Biotech, Biotope Incubator, Portugal Ventures
•
Braga-based PluggableAI receives 1.75 million push to improve company notificationsSAPO•Sep 17, 2024•Pluggable.AI, GED Ventures Portugal, Portugal Ventures
•
Bandora Systems raises €1.5 million in a funding roundEl Referente•Aug 07, 2024•BlueCrow, Portugal Ventures
