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Top 5 Construction VC Funds & Investors in Portugal (June 2026)

The most active venture capital funds investing in Portugal Construction startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Portugal Construction startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Explorer Investments
VC Fund
2 Portugal, Spain, Brazil Private Equity, Seed, Series A Manufacturing, Retail, Information Technology $2.1M–$16M
EDP Ventures
VC Fund
2 Portugal, United States, Brazil Seed, Series A Software, Energy, Information Technology $478k–$14M
Armilar Venture Partners
VC Fund
1 Portugal, United States, United Kingdom Seed, Series A Software, Information Technology, Artificial Intelligence $500k–$16M
Cornerstone VC
VC Fund
1 United Kingdom, Portugal, United States Seed, Pre-Seed, Series A Software, Health Care, Artificial Intelligence $1.5M–$25M
Indico Capital Partners
VC Fund
1 Portugal, United States, Spain Seed, Series A, Pre-Seed Information Technology, E-Commerce, B2B
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Investor list

Explorer Investments
VC Fund · Lisboa, Lisboa, Portugal · 2 investments in Portugal Construction startups

Founded in 2003, Explorer is Portugals leading independent management company of alternative assets, with a reputation for outstanding quality, in-depth experience and an excellent track record.

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Investment focus

  • Industry: Manufacturing, Retail, Information Technology
  • Stage:Private Equity, Seed, Series A
  • Geography: Portugal, Spain, Brazil

Investor stats

  • Total investments: 61
  • Round size: Seed $2.1M–$4.7M; Series A $7M–$16M
  • Lead/follow: 85% lead, 15% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • NextBitt
  • Spotlite — Spotlite combines satellite data with AI to predict infrastructure risks before they become problems.
  • SkillUp Online — SkillUp Online is a cloud-based continuing education and certification platform offering blended learning strategies for IT students and professionals alike. Specifically targeting those individuals exploring career change or advancement, the platform offers over 140 Microsoft certified courses for in-demand skills like artificial intelligence,data science, big data, cloud computing, and more.The SkillUp curriculum combines custom high-quality instructional content blended with one-on-one support from certified experts in the technology space to drive dramatically increased success rates among enrollees.
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EDP Ventures
VC Fund · Lisbon, Lisboa, Portugal · 2 investments in Portugal Construction startups

EDP Ventures is the venture capital arm of EDP. We invest in early-stage startups working in the energy space

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Investment focus

  • Industry: Software, Energy, Information Technology
  • Stage:Seed, Series A
  • Geography: Portugal, United States, Brazil

Investor stats

  • Total investments: 54
  • Round size: Seed $478k–$3.5M; Series A $1.7M–$14M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $8M in 2018

Portfolio highlights

  • ChemiTek — Certified & sustainable solutions for industrial maintenance. We have the solutions you need!
  • HSL Technologies — HySiLabs developped an innovative solution to facilitate hydrogen transportation, by charging and releasing hydrogen in a unique liquid carrier (HydroSil): Hydrogen Stored as Liquids (HSL Solutions).
  • Yotta Energy — Discover scalable, efficient energy storage solutions with Yotta Energy's products, including the Yotta Block and microinverters, for simplified renewable energy management.
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Armilar Venture Partners
VC Fund · Lisboa, Lisboa, Portugal · 1 investments in Portugal Construction startups

Armilar Venture Partners is Portugal's leading venture capitalist. An independent VC with a 20-year-old history, a high-performance track record and an international footprint, Armilar is a deep-tech investor in ICT, HealthTech and CleanTech.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A
  • Geography: Portugal, United States, United Kingdom

Investor stats

  • Total investments: 102
  • Round size: Seed $500k–$4.8M; Series A $4M–$16M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — raised $53M in 2019

Portfolio highlights

  • Equall — Equall offers legal AI systems to help companies and lawyers evaluate and control risk.
  • DOJO AI — Dojo AI is pioneering the Marketing Operating System (MOS) category, providing challenger brands with enterprise-grade marketing infrastructure. Its proprietary technology combines real-time market intelligence, specialized AI agents, and automated workflow orchestration in one unified platform.The Dojo MOS enables marketing teams to run theirentire operation - from market research and strategy to content creation and campaign execution - through a single, intelligent system. The platform features a proprietary graph engine for real-time market intelligence, marketing-specific language models, and autonomous AI agents trained for specialized marketing tasks.Built for challenger brands looking to compete more effectively, Dojo eliminates the need for multiple point solutions and reduces dependency on external agencies. The platform continuously learns and optimizes, providing companies with compounding advantages as they scale their marketing operations.
  • DareData
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Cornerstone VC
VC Fund · London, England, United Kingdom · 1 investments in Portugal Construction startups

Cornerstone VC operates as a venture capital firm.

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Investment focus

  • Industry: Software, Health Care, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, Portugal, United States

Investor stats

  • Total investments: 14
  • Round size: Seed $1.5M–$4.4M; Pre-Seed $1.7M–$2.4M; Series A $7.7M–$25M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Aster — Aster provides all-in-one patient management software for private practices, focussed on women's health. Serving OB/GYNs, Midwives, NPs, Doulas, Lactation Consultants and more..
  • Evaro — Add prescription healthcare to your platform in days, not years. Complete healthcare integration with regulatory compliance, clinical oversight, and fulfilment.
  • ComplyStream — ComplyStream enables faster and smarter FinCrime alert resolution by unifying your fragmented data, communication and workflows in a single AI-native platform.
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Indico Capital Partners
VC Fund · Lisbon, Lisboa, Portugal · 1 investments in Portugal Construction startups, 8 in the past 12 months

Indico Capital Partners is the leading independent Venture Capital firm in Portugal investing in global technology companies. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Seed to Series A level. Founded in 2017, the team at Indico werepreviously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs.Headed by the two most senior former Caixa Capital VC Team members, supported by a successful and experienced entrepreneur and a strong group of advisors, top entrepreneurs, they raised our first fund (authorized by the Portuguese Securities Market Commission - CMVM) from a cornerstone institutional investor (EIF) and international family/multi-family offices from Europe, US, and Australia. In addition to Silicon Valley, London, and Berlin, cities like Lisbon have emerging startup ecosystems. Portugal went through a difficult macro environment years ago which led to a growth in the entrepreneurship culture and investment. We have excellent tech graduates and a global mindset.Highly innovative companies like luxury eCommerce platform Farfetch, YC graduate machine learning translation platform Unbabel or the leading student accommodation marketplace Uniplaces have a strong Portuguese DNA and went to raise international rounds in the UK and the US - we want to back the next success stories of the ecosystem.

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Investment focus

  • Industry: Information Technology, E-Commerce, B2B
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Portugal, United States, Spain

Investor stats

  • Total investments: 43
  • Lead/follow: no public data

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.
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Construction VC funding in Portugal at a glance

Stats across 9 deals from 12 investors.

12
investors
in Portugal Construction startups
9
deals
in Portugal Construction startups
$1.7M
median round
in Portugal Construction startups
67%
lead investors
lead at least one round
22%
Private Equity
most common funding stage

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