Top 40 Blockchain VC (Venture Capital) Funds in Portugal in May 2026

Portfolio highlights

• Aethir — Power Ultra-Low Latency Gaming & AI Experiences.
• Elixir — Powering deUSD, a yield bearing and fully collateralized decentralized dollar on the Elixir Network, bringing institutional-grade liquidity to RWAs.
• Zcash Open Development Lab — Zodl is a mobile wallet for sending and managing private Zcash transactions, with encrypted payments and full user control of funds.

Portfolio highlights

• Ethena — Enabling the Internet Bond
• Ref Finance — Ref Finance is a DeFi platform built on NEAR Protocol that costs less than $0.01 for transactions.
• Parallax — Parallax offers a cross-border payments platform for freelancers, remote workers, and businesses. The service enables receiving international client payments, holding funds in USD, exchanging currencies, and sending money to domestic bank accounts and mobile wallets. Users manage balances and transfers through a web app with quoted rates anditemized fees. The platform supports global payouts and recurring disbursements to partners and team members. Compliance measures include identity verification and transaction monitoring aligned with regulatory standards. Documentation and support resources guide account setup, funding, and cash-out.

Portfolio highlights

• AddVolt — AddVolt is a technology based company that tackles markets where there is a high potential for diesel costs reduction through the generation of solar and kinetic energy, while other secondary savings are generated (e.g. maintenance).
• Hephaesnus — Hephaesnus is an industrial technology startup dedicated to the development of products and technologies for forest firefighting.
• Floating Particle — Floating Particle is a technology and innovation company that drives an innovative solution for waste management and clean energy. Floating Particle specializes in IoT, Big Data and Machine Learning to provide cutting-edge technology to the customers.

Portfolio highlights

• Chord — Chord is a commerce data platform purpose-built for modern brands. Chord enables brands to unify, synthesize, and orchestrate their data to drive radical decisions and revenue.
• Didimo — Didimo creates realistic high-fidelity digital humans. Simple, fast, accurate user-generated avatars to integrate into your app, game or site.
• Probely — Probely is a web application and API vulnerability scanner for agile teams. Automate Security Testing by adding Probely into your SDLC and CI/CD pipelines.

Portfolio highlights

• Revolut — Join 40+ million customers globally using Revolut to send money to 160+ countries, hold up-to 36 currencies in app, spend in 150+ currencies, and manage their money.
• Blockhead — Latest Bitcoin, Ethereum News & Crypto Market Updates
• Our Next Energy — ONE is a Michigan-based energy storage company focused on engineering batteries that accelerate U.S. domestic manufacturing and energy resilience.

Portfolio highlights

• EatTasty — Fresh food delivery service in Lisbon. Easy to choose and order. Free delivery. Discover our delicious lunches and dinners!
• Brij — With one-touch, BRIJ allows consumers to gain product info, care instructions and discounts while you gain a deeper understanding of your consumer. Apps, paper manuals and hassles not required.
• Tidal Cyber — Tidal Cyber helps enterprise organizations to define, measure, and improve their defenses to address the adversary behaviors that are most important to them. It also helps to assess, organize, and optimize defenses with a deep understanding of the threats.

Portfolio highlights

• Karma3 Labs — Building trust and reputation for the open web
• Alterscope — Solity Network provides the infrastructure for Decentralized Finance to enable real-time processing of risk across chains, protocols, and liquidity pools.
• Token Flow Insights — Contextualized data and analytics for the blockchain ecosystem. The only analytics solution that maps flows and contextualizes blockchain transaction data between protocols.

Portfolio highlights

• TonUP — TonUP offers cryptocurrencies as well as IDO services.
• 4Everland — 4EVERLAND is a Web 3.0 cloud computing platform that integrates storage, computing, and network core capabilities.
• Ordz Games — Ordz Games is a gaming provider for the Bitcoin eco-chain.

Portfolio highlights

• TAIKAI Labs — A platform to decentralize organization development and innovation through hackathons, bounties, grants and tech challenges.
• Upland — Play. Earn. Connect & Rebuild The World
• Twinsity — Twinsity is the state-of-the-art 3D visual software for your massive reality capture projects.We offer an all-in-one high-performance and intuitive technology solution for creating stunning high-res visualizations of your 3D models. Discover your high-quality digital twins immersively and in real time, create amazing showcases for presentationsand use the new technology to perform virtual inspections. With our powerful software solution, inspections can be carried out in a faster, secure and more accurate way - to enrich the work of engineers, contractors and inspectors. Twinsity helps businesses drive expanding and promoting their digitalization work, to enable a new, safer and more collaborative way of working. Stunning 3D experiences and a variety of effective features provide the application of Twinsity in a wide range of industries - including inspections, cultural heritage, restorations, planning or simulation.Discover the advantages of the digital world for your work with Twinsity!

Portfolio highlights

• TACEO — TACEO refers to MPC encrypted compute for Web3.
• Due — Discover our global payment platform. Powered by open, decentralised and interoperable networks.
• Freename — Register Web3 domains, custom TLDs, or import domains. Secure your digital identity today.

Portfolio highlights

• Cintoo — Cintoo is essential for BIM to bridge the gap between your physical and virtual worlds.
• Automaise — Radically improve your customer care operations by focusing where the volume is and helping your agents do a better job.
• Sword Health — Sword delivers AI Care with clinical oversight to prevent pain, support recovery, and promote whole-body health. Trusted by employers and health plans.

Portfolio highlights

• ETHGas — ETHGas aims to redefine how users engage with Ethereum by providing low-latency, 3ms settlement times, and real-time trading, as well as a comprehensive product suite for exact order execution.
• Rio Network — Rio Network is an operator of a public proof-of-stake blockchain platform intended for the issuance, investment, and life-cycle management of digital securities and crypto assets.
• Allora Labs — The source for NFT pricing. Upshot uses machine learning to provide deep insight into NFT markets and unlocks a wave of exotic new DeFi possibilities.

Portfolio highlights

• Greenlane — Greenlane is a distributor of premium cannabis accessories, packaging, vape solutions, and lifestyle products. It serves a diverse and expansive customer base with more than 8,000 retail locations, including licensed cannabis dispensaries, smoke shops, and specialty retailers. The company was founded in 2005 and is based in Boca Raton, Florida.
• Flora Growth Corp. — Flora Growth is a global cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of pharmaceuticals, cosmetics, hemp textiles, and food and beverage.The company makes organic cannabis oils, food and drink with added cannabidiol, and pharmaceutical-, medical-,and cosmetic-grade cannabis plant derivatives.Flora Growth was established in 2019 by
• Cluster Protocol — Cluster Protocol is the co-ordination layer for AI agents, a carnot engine fueling the AI economy making sure the AI developers are monetized for their AI models and users get an unified seamless experience to build that next AI app/ agent within a virtual disposable environment facilitating the creation of modular, self-evolving AI agents.

Portfolio highlights

• Due — Discover our global payment platform. Powered by open, decentralised and interoperable networks.
• Freename — Register Web3 domains, custom TLDs, or import domains. Secure your digital identity today.
• BIO Protocol — The BIO Protocol (BIO) allows onchain scientific communities to fund, build, and co-own research and products in specific biomedical domains including lifespan, brain health, and rare disorders. BIO, founded by senior VitaDAO members, empowers worldwide communities of scientists, patients, and investors to take science into their own hands andbring solutions to life more effectively than traditional pharmaceutical companies.

Portfolio highlights

• Zoo Finance — Zoo Finance is a pioneering DeFi protocol focused on unlocking liquidity from locked assets, empowering users to access capital more efficiently while maximizing the utility of their on-chain holdings.
• Joystream — Joystream is a block chain-based, decentralized video platform.
• Zypher Network — Zypher Network, Portal for Revolutionary Fully-on-Chain Games using ZKP & AI

Portfolio highlights

• Pave Bank — The world's first multi-asset and programmable bank
• WOO Network — Discover WOO's ecosystem of centralized and decentralized apps to seize every opportunity in crypto.
• Silicon Data — Silicon Data is a data product that brings essential intelligence and efficiency to markets.

Portfolio highlights

• EthicHub — EthicHub connect groups of smallholder farmers on a profitable activity, with lenders from all over the world and with direct buyers, creating value to all parties. By combining lending and product sale services we use the coffee as collateral for the loan and improve unit economics. Now it is possible to serve smallholder farmers in a veryprofitable way. EthicHub creates value from mutual benefit: Lenders provide affordable loans to the smallholder farmers (only coffee producers in early stage) and direct buyers (coffee roasters in early stage) offer faire prices for the crops, enabling farmers to have the resources to payback the loans and to get free from the poverty and low productivity cycle.
• Hata — Your crypto gateway to global opportunities. Regulated by the Labuan Financial Services Authority. Buy, sell, and trade crypto securely.
• Mesh — Mesh enables safer, easier crypto transfers and payments from 300+ leading exchanges and wallets, all without leaving your platform

Portfolio highlights

• ARX — ARX smart contracts and HaLo chips enable creators build decentralized, immutable and composable physical crypto assets.
• Plastic Labs — Radically Decentralizing Alignment
• Offline Protocol — Offline Protocol is a novel infrastructure and consumer censorship-resistant technology stack created to enable communication, peer-to-peer payments, and information dissemination in the absolute absence of internet and telecom connectivity. By leveraging innovative offline networking, cryptographic processes, and localised computing, OfflineProtocol aims to bridge the gap in digital accessibility and financial divide among underserved communities globally, as well as provide critical services to people affected by natural disasters, stuck at sporting events, concerts, and parades, or any other situations where traditional forms of connectivity are disrupted.

Portfolio highlights

• Ad-Shield — Start measuring revenue lost to ad blockers and learn how to get additional revenue through Ad-Shield Recovery today
• Injective — Explore Injective: the high-performance blockchain powering decentralized finance, governance, and next-gen Web3 apps with unmatched speed and scale.
• Decentralised Gaming Ventures — D.G.Pals is a virtual pet, NFT Game Project that focuses on Squad-battler (PvP and Competitive), Siege Defence, Clan System, and various types of genre revolving around the IP as part of the ecosystem in the D.G.Verse.

Portfolio highlights

• Rhuna — Rhuna is an AI and blockchain platform that transforms event management with NFT ticketing and token rewards.
• BridgePort — SaaS, Fintech, Middleware, Trading Infra
• Coca Wallet — Coca Wallet operates as a non-custodial payments app.

Portfolio highlights

• NovaNet — NovaNet offers local verifiable computing and privacy protection applications, including AI, decentralized Internet of Things (DePIN), and games.
• Range Labs — Helping issuers, protocols, and financial institutions build and use stablecoins, blockchains, wallets, and custom asset flows with peace of mind.
• Darkbright Studios — Darkbright Studios is the developer of Smolbound, a Web3 life sim RPG.

Portfolio highlights

• TRM Labs — Next Generation Blockchain Intelligence | Monitor, Investigate, and Mitigate Crypto Fraud and Financial Crime
• Puffer — Puffer Finance operates as a blockchain infrastructure company.
• Injective — Explore Injective: the high-performance blockchain powering decentralized finance, governance, and next-gen Web3 apps with unmatched speed and scale.

Portfolio highlights

• Cleanwatts — We simplify, amplify and accelerate energy decarbonization for companies and communities around the world. Our clients call upon us to improve their energy efficiency performance and to increase their access to affordable clean energy. Join Cleanwatts today.
• Musiversal — Record your music in real time with world-class session musicians, vocalists, producers and audio engineers
• Brands&Ninjas — SaaS to control the performance of physical marketing campaigns on retail.

Portfolio highlights

• API3 — First-party blockchain oracle. Web APIs for trustless apps. Decentrally governed, quantifiably secure data feeds.
• dcSpark — Take your first step into the ever-growing world of Blockchain. By focusing on interoperability and composability, we provide a seamless experience for end users.
• Daler Trading — Daler is an algorithmic trading firm and crypto market maker specializing in options and futures. We provide liquidity and market-making services for the cryptocurrency ecosystem and Real-World Assets (RWA) across over 30 centralized (CEX) and decentralized exchanges (DEX).

Portfolio highlights

• Fly Media — Fly Media offers an AI-powered platform for automated video production and content adaptation driven by smart workflows. The platform helps creators and brands generate, edit, and localize media at scale, streamlining tasks like scene assembly, formatting, and repurposing across channels. Behind its “generated” media vision, the company maintains aseed-stage pitch room with a deck, business plan, and product videos available via its website.Fly Media emphasizes reducing manual overhead in content creation by applying AI to repetitive tasks and enabling teams to focus on high-level creative decisions.
• Moonbeam Network — Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications.
• Tools For Humanity — Tools for Humanity is a technology company building for humans in the age of AI.

Portfolio highlights

• Transak — Transak offers a simple integration to allow your users to buy more than 100+ cryptocurrencies with credit/debit cards, or bank transfers in more than 120+ countries.
• warashibe — warashibe engages in the development and operation of blockchain-related products.
• AlchemyNFT — AlchemyNFT is a non-fungible token (NFT) service.

Portfolio highlights

• Gamium — Gamium is a Web3 and Metaverse technology company building the truly Decentralized Social Metaverse.
• Lympid — We believe that anyone should have access to the amazing opportunities found on the blockchain, from DeFi protocols (aave, compound, yearn…) to Crypto Indexes, there's so much to discover! At Lympid you will be able to do it all easily in the same app, and directly through EUR.
• Alliance Games — Build Beyond Limits. Multiplayer for the Next, Decentralized Era.

Portfolio highlights

• Gro — Gro protocol is a stablecoin yield aggregator that tranches risk and yield. The first two products built on it are the PWRD stablecoin with deposit protection and yield, and Vault with leveraged stablecoin yields.
• TRM Labs — Next Generation Blockchain Intelligence | Monitor, Investigate, and Mitigate Crypto Fraud and Financial Crime
• Bullish Global — Bullish Global is a new blockchain-based cryptocurrency exchange designed to combine the performance, user privacy, and compliance offered by central order book technology with the vertically integrated user benefits of decentralized finance (DeFi) market architecture.

Portfolio highlights

• Rebar Labs — Rebar Labs is a company that offers research services and infrastructure for bitcoin. The company wants to help users in the Bitcoin ecosystem create more effective and better experiences by addressing issues related to maximum extractable value and offering services that guarantee equitable value distribution.
• Yellow — Yellow is a financial services provider of software, analytics, and investments in blockchain startups.
• Tren Finance — Tren Finance: a secure DeFi liquidity protocol offering seamless asset swaps, yield opportunities, and cross-chain compatibility through automated smart contracts, redefining liquidity for users and institutions.

Portfolio highlights

• MixRift — MIXRIFT - game developers specialized in Mixed Reality
• unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
• Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.

Portfolio highlights

• Udemy — Udemy's mission is to create new possibilities for people and organizations everywhere by connecting them to the knowledge and skills they need to succeed in a changing world. The Udemy marketplace platform, with thousands of up-to-date courses in dozens of languages, provides the tools learners, instructors, and enterprises need to achievetheir goals and reach their full potential. Millions of people learn on Udemy from real-world experts in topics ranging from programming and data science to leadership and team building. For companies, Udemy Business offers an employee training and development platform with subscription access to thousands of courses, learning analytics, and the ability to host and distribute their own content.
• TRUE Future — TRUE: creating synergy between a successful Web2 businesses and a well-established Web3 infrastructure for redefining social gaming.
• Lifetime Health — We are a digital platform, transforming the healthcare landscape with our innovative hospital-at-home care services. Our mission is to create an efficient healthcare system that provides essential services, including lab tests, express check-ups, nursing care, and medical devices, right at your doorstep.

Portfolio highlights

• AlchemyNFT — AlchemyNFT is a non-fungible token (NFT) service.
• BabylonChain — Babylon is a VC-backed blockchain project founded by Claude. E. Shannon Award recipient, Professor David Tse from Stanford University. The project’s mission is to bring Bitcoin’s unparalleled security to all PoS blockchains in the world. To this end, we are building, as the bridge between Bitcoin and the PoS world, a new public Cosmos-based PoSblockchain called Babylon with a native token.
• Lombard — Lombard is committed to leveraging Bitcoin's potential as a dynamic financial tool by integrating it to DeFi collaborating with technological and infrastructural partners on a common, ecosystem-driven aim to bring Bitcoin to DeFi.

Portfolio highlights

• Dealcar — DEALCAR is a company that digitalizes the used car market through a SaaS platform, enabling fully digital transactions. This platform creates a network effect benefiting dealers, partners, and customers. • Dealers: Increase revenue by selling extra products and boost sales by reducing turnover time. • Partners: Distribute products at the pointof sale without marketing expenses, lowering operational costs. • Consumers: Purchase a used car easily in just three steps, enjoying a smooth, trusted process similar to renting but with the benefits of owning a car.
• Rauda AI — Rauda is an artificial intelligence platform specialized in automating customer service with the best customer experience. Take a quantum leap in productivity, reduce costs and improve customer satisfaction with the power of generative artificial intelligence.
• Aino — AI-powered site analysis for real estate professionals. Generate feasibility studies with quantified metrics, maps, cost estimates, and zoning insights in minutes, no GIS or coding required.

Portfolio highlights

• Zerion — Zerion is an investing app that enables anyone, anywhere in the world, to access a suite of new financial products and services built on the backbone of decentralized finance (DeFi). Simple, user-centered design is combined with a powerful tech stack that aggregates across every major decentralized exchange, offering users a single point of entryfor managing their digital assets with ease. Zerion is non-custodial, which means users never delegate their funds to the platform. This agile approach mitigates centralization risk and has allowed Zerion to operate globally since inception.
• Pyth Network — The Pyth network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely.
• Inversion — Inversion is a technology-first investment company that acquires and transforms legacy businesses with blockchain technology.

Portfolio highlights

• StablR — StablR issues compliant stablecoins StablR Euro (EURR) and StablR USD (USDR), backed by reserves and audits. Built for secure payments, DeFi, and fintech.
• Kemet Trading — Kemet Trading provides institutional-grade infrastructure for digital asset derivatives trading; optimizing access to liquidity, data, trade execution and post-trade workflows.
• Arbelos Markets — Arbelos Markets provides unprecedented access and transparency to counterparties through powerful technology.

Portfolio highlights

• Brink — Brink is a Bitcoin research and development centre
• Ethena — Enabling the Internet Bond
• Lombard — Lombard is committed to leveraging Bitcoin's potential as a dynamic financial tool by integrating it to DeFi collaborating with technological and infrastructural partners on a common, ecosystem-driven aim to bring Bitcoin to DeFi.

Portfolio highlights

• worm.wtf — worm.wtf is the prediction marketplace for the Solana ecosystem.
• Voyage — Voyage AI is an AI infrastructure project building the first GEOFi network to make AI-generated content citable.
• Circuit & Chisel — Circuit & Chisel is an agentic AI platform that enables agents to make transactions between autonomous agents.

Portfolio highlights

• Pye Labs — Pye Finance is a Web3 startup that builds a staking-market infrastructure on the Solana blockchain.
• Octane — A developer-first platform to stress-test your smart contracts with cutting-edge AI. One-click install. Save time and money on security.
• BitVault — BitVault is a DeFi protocol that provides a crypto-native money solution via its BTC-backed stablecoin, bvUSD, and yield-bearing staked stablecoin, sbvUSD.

Portfolio highlights

• HolmesAI — HolmesAI is a decentralised AI agent that offers persona customisation, tool integration, and task-specific agent deployment services.
• Kaia — Kaia is a public blockchain that utilizes Byzantine Fault Tolerance (BFT) for enhanced reliability and performance.
• aZen Protocol — aZen Protocol is a decentralized infrastructure for ubiquitous computing that utilizes blockchain technology to create a shared economy of computing power. It connects and manages resources globally to form a stable, distributed network that can support various applications such as DePIN, AI and Edge Computing.

Portfolio highlights

• FRVR — FRVR brings captivating games to billions of players instantly.
• Indie Campers — Indie Campers offers adventurers the opportunity to start their journey in one location and end it in any of our other depots, while delivering an outstanding customer service for a unique and unforgettable experience.
• Oceano Fresco — Oceano Fresco develops and produces bivalves varieties with superior performance for shellfish farmers at a competitive cost, respecting environmental sustainability and ensuring consumer safety.They use a multi-disciplinary approach including expertise in molecular biology, genetics, animal physiology, computational biology and intellectualproperty to select value adding traits to shellfish farmers and contribute to the sustainability and profitability of the aquaculture industry.They work with hatcheries, nurseries and research centers in order to test and validate their solutions and ensure that they suit the specific needs of each customer, in each technical and environmental context.