Top 15 Fitness VC Funds & Investors in Portugal (July 2026)
For AI agents: Short investor table (Markdown), Detailed investor list (Markdown)
| Investor | Relevant Deals | Geography | Stage | Focus | Round Size |
|---|---|---|---|---|---|
|
Olisipo Way
VC Fund
|
4 | Portugal, Lithuania | Seed, Pre-Seed | Software, InsurTech, FinTech | $159k–$6.5M |
|
Lince Capital
VC Fund
|
3 | Portugal, United Kingdom, United States | Seed, Venture - Series Unknown, Series A | E-Commerce, Artificial Intelligence, Health Care | $1000k–$16M |
|
Portugal Ventures
VC Fund
|
3 | Portugal, United States, France | Seed, Pre-Seed | Software, Information Technology, Health Care | $107k–$2.1M |
|
M4 Ventures
VC Fund
|
2 | Portugal, United Kingdom, United Arab Emirates | Seed, Series A, Venture - Series Unknown | SaaS, Beauty, FinTech | $2.1M–$5.3M |
|
TrulyMad
VC Fund
|
2 | Portugal | Pre-Seed | Beauty, Fitness, Wellness | $550k–$560k |
|
Caixa Capital
VC Fund
|
1 | Portugal, United States, Spain | Seed, Series A, Series B | Software, SaaS, Information Technology | $120k–$23M |
|
Bynd Venture Capital
VC Fund
|
1 | Portugal, Spain, United States | Seed, Pre-Seed, Series A | Software, SaaS, Health Care | $483k–$50M |
|
Armilar Venture Partners
VC Fund
|
1 | Portugal, United States, United Kingdom | Seed, Series A | Software, Information Technology, Artificial Intelligence | $500k–$17M |
|
Demium Capital
VC Fund
|
1 | Spain, Portugal, Poland | Pre-Seed, Seed, Series A | Software, FinTech, Health Care | $110k–$3.1M |
|
Boost VC
VC Fund
|
1 | United States, Canada, United Kingdom | Seed, Pre-Seed | Software, Artificial Intelligence, Virtual Reality | $100k–$6.6M |
|
StartUp Health
VC Fund
|
1 | United States, Canada, United Kingdom | Seed, Pre-Seed | Health Care, Wellness, Medical | $20k–$4M |
|
Ganexa Capital
VC Fund
|
1 | Portugal, United States, United Kingdom | Seed, Pre-Seed | Fitness, Wellness, Health Care | $478k–$2.7M |
|
Explorer Investments
VC Fund
|
1 | Portugal, Spain, Brazil | Private Equity, Seed, Series A | Manufacturing, Retail, Health Care | $2.1M–$16M |
|
GED Ventures Portugal
VC Fund
|
1 | Portugal, France, Germany | Seed, Venture - Series Unknown, Pre-Seed | Software, Artificial Intelligence, Health Care | $1.6M–$38M |
|
COREangels Lisbon
VC Fund
|
1 | Portugal, Finland, United Kingdom | Seed, Pre-Seed, Angel | Artificial Intelligence, Software, Marketing | $83k–$2.7M |
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Olisipo Way is an early-stage venture firm that focuses on IT investments. It invests in technology companies with very diverse and complementary skills. The initial portfolio of Olisipo Way comes from the innovation created within the Olisipo through the continuous stimulation of innovation among employees and the incubation of new businessventures.The firm was founded in 2015 and is headquartered in Lisbon, Lisboa.
Show more...Investment focus
- Industry: Software, InsurTech, FinTech
- Stage:Seed, Pre-Seed
- Geography: Portugal, Lithuania
Investor stats
- Total investments: 29
- Round size: Seed $1.2M–$6.5M; Pre-Seed $159k–$1.5M
- Lead/follow: 14% lead, 86% follow
Portfolio highlights
- DoJob.ai — DoJob.ai is an AI-powered online platform engineered to elevate the management and planning capabilities of business organizations. It primarily serves these organizations by providing tools and features that boost the productivity of knowledge workers. More than just a tool for document creation, DoJob.ai acts as a partner for the strategy andmanagement functions within businesses. It aids in the development of strategic plans, operational documents, and other business-related documents, thereby enhancing the influence of individuals within their roles and the organization as a whole.
- hAPI — hAPI offers financial solutions through APIs to collect financing information and documentation.
- OSCAR — On-demand app for home services like repair, cleaning and laundry with fixed prices in less than 30 minutes.
Lince Capital is an independent venture capital company. Lince Capital was born from the experience of a family group with over 30 years of experience in managing investment funds in various business areas, including real estate, infrastructure, agriculture, and telecommunications.Lince Capital is distinguished by its personalized and excellentsupport, close and direct relationship with each of its investors and business partners, and the dedication of an experienced and dynamic team.
Show more...Investment focus
- Industry: E-Commerce, Artificial Intelligence, Health Care
- Stage:Seed, Venture - Series Unknown, Series A
- Geography: Portugal, United Kingdom, United States
Investor stats
- Total investments: 43
- Round size: Seed $1000k–$11M; Series A $5M–$16M; Venture - Series Unknown $1.3M–$13M
- Lead/follow: 53% lead, 47% follow
Portfolio highlights
- pleez — Pleez offers Restaurant's an optimisation of their menu within Delivery Platforms, so that they can have a revenue increase up to 25%.
- Nutrium — Nutrium is the most up-to-date nutrition software for dietitians and nutritionists to manage their nutrition business with nutritional assessment, meal planning and progress tracking.
- Data4Deals — Data4Deals applies Artificial Intelligence to financial data to understand customer preferences and behaviour, allowing brands to reach new customers and deepen relationships with existing ones.
Verticals:Enterprise, SaaS, Security, Networks, AI, VR/AR, Marketplace, Blockchain, Internet of Things, New materials, Electronics, Robotics, Cleantech, Agrotech, Seatech, Therapeutics, Digital Health, Diagnostics, Innovative Accommodation, Tourist Entertainment Companies, Tour Operators, Wine, Nautical and Equestrian Tourism, Theme ParksMobile, Robotics Founded in 2012, Portugal Ventures is a venture capital firm based in Porto, Portugal. The firm is a part of the Banco Português de Fomento group. The firm seeks to invest in pre-seed, seed and series A stages
Show more...Investment focus
- Industry: Software, Information Technology, Health Care
- Stage:Seed, Pre-Seed
- Geography: Portugal, United States, France
Investor stats
- Total investments: 261
- Round size: Seed $110k–$2.1M; Pre-Seed $107k–$658k
- Lead/follow: 13% lead, 87% follow
- Last fund: May invest from a new fund soon — last raise in 2011
Portfolio highlights
- EatTasty — Fresh food delivery service in Lisbon. Easy to choose and order. Free delivery. Discover our delicious lunches and dinners!
- Unlockit — Unlockit will offer to public and governmental bodies the guarantee that everything within a real estate transaction is recorded, meaning better industry regulation, more taxes and public fees collected, and less overall fraud and money laundering activities.
- Codeplace — The best place to develop your coding skills with a comprehensive, specially curated list of tutorials and books.
M4 Ventures helps startups to grow and expand globally through experience and hands-on collaboration.
Show more...Investment focus
- Industry: SaaS, Beauty, FinTech
- Stage:Seed, Series A, Venture - Series Unknown
- Geography: Portugal, United Kingdom, United Arab Emirates
Investor stats
- Total investments: 9
- Round size: Seed $2.1M–$5.3M
- Lead/follow: 11% lead, 89% follow
Portfolio highlights
- Nutrium — Nutrium is the most up-to-date nutrition software for dietitians and nutritionists to manage their nutrition business with nutritional assessment, meal planning and progress tracking.
- PayNest — PayNest is a payments amalgamator, which was created with the core mission of digitizing cash collection in the Middle East.
- sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
TrulyMad Business Accelerator
Show more...Investment focus
- Industry: Beauty, Fitness, Wellness
- Stage:Pre-Seed
- Geography: Portugal
Investor stats
- Total investments: 2
- Round size: Pre-Seed $550k–$560k
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
Caixa Capital is the Private Equity and Venture Capital arm of banking Group Caixa Geral de Depósitos and has a track record spanning over two decades of activity, since the industry was created in Portugal. It is a leading investor in terms of funds under management, portfolio size and diversity.Caixa Capital´s mission is to invest in fundsand companies, led by highly qualified management teams, with high growth and valuation potential, that enable our funds to achieve an attractive risk adjusted return and for society at large to benefit sustainably from our activity.Currently with more than 700 million Euros under management and a portfolio of over 80 investments, Caixa Capital is a reference in this area with special links to the respective European sector associations.
Show more...Investment focus
- Industry: Software, SaaS, Information Technology
- Stage:Seed, Series A, Series B
- Geography: Portugal, United States, Spain
Investor stats
- Total investments: 74
- Round size: Seed $120k–$2.5M; Series A $3M–$12M; Series B $1.1M–$23M
- Lead/follow: 19% lead, 81% follow
Portfolio highlights
- Veniam — Transfer 10x more data for your video telematics, fleet operations, industrial IoT or connected vehicles.
- Growappy — Growappy is an EdTech that offers an all-in-one platform for early education that is leading a vision to unlock personalized education since nursery with the power of AI, while providing a revolutionary communication experience between schools and families and drastically simplifying bureaucracy for teachers and school owners.
- Infraspeak — Infraspeak is an Intelligent CMMS Software that brings outstanding flexibility, connectivity and intelligence to your operations.
Bynd is a leading Iberian Venture Capital firm
Show more...Investment focus
- Industry: Software, SaaS, Health Care
- Stage:Seed, Pre-Seed, Series A
- Geography: Portugal, Spain, United States
Investor stats
- Total investments: 71
- Round size: Seed $483k–$5.3M; Pre-Seed $576k–$2.1M; Series A $5.5M–$50M
- Lead/follow: 18% lead, 82% follow
- Last fund: May invest from a new fund soon — raised $11M in 2019
Portfolio highlights
- Pollen — Pollen is developing a universal battery-swapping network for mopeds and motorcycles, enabling riders to quickly exchange depleted batteries for fully charged ones, reducing downtime and supporting efficient, scalable electric mobility in urban environments.
- Wio Capital — Wio Capital is a wealthtech company that builds an AI-powered wealth management platform for financial advisors, offices, and bankers.
- Spacebackend — Spacebackend is redefining how aerospace teams handle mission-critical integration. Our platform, Lynapse, is an AI-powered system integration environment designed for engineers-in-the-loop. We empower software integration and AIT/AIV teams to bridge the gap from hardware interface to flight-ready software - starting in the design phase andcontinuing through end-to-end integration.By decoupling software readiness from physical hardware and leveraging AI to automate the implementation of complex interfaces, we reduce integration effort from years to days. Lynapse uses AI to convert complex ICD documentation into digital models, automatically producing, testing, and validating platform-agnostic source code.Our workflow ensures every line of code is deterministic, engineer-approved, and fully traceable from documentation to deployment. Whether you are generating platform-agnostic code from scratch or validating existing flight software against a digital ICD model, Lynapse exposes failures and readiness gaps early - when it matters most. Build integration readiness today.
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.
Show more...Investment focus
- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Seed, Series A
- Geography: Portugal, United States, United Kingdom
Investor stats
- Total investments: 105
- Round size: Seed $500k–$4.8M; Series A $4M–$17M
- Lead/follow: 38% lead, 62% follow
- Last fund: May invest from a new fund soon — raised $53M in 2019
Portfolio highlights
- Airflows — Airflows is a platform offering private AI solutions for back-office operations, enabling the creation of applications, workflows, and agent assistants from documents, rules, and approvals while maintaining full control, auditability, and integration with existing systems like ERP, ECM, and BPM.
- 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 —
Demium is a talent investment company founded in Spain in 2013 with the aim of supporting the best professionals and helping them to carry out successful projects, always with an eminently digital and technological component. In November 2020, it's asset management company, Demium Capital, started operating with a first €50M fund to invest inmore than 75 early-stage startups per year (pre-seed/seed), becoming the most active venture capital fund in Spain. Startups such as Hannun, Voicemod, Swipcar, Citibox, Singularu or Landbot, among others have been created in the incubator. The company is present in five countries: Spain, Portugal, Poland, Ukraine and Czech Republic
Show more...Investment focus
- Industry: Software, FinTech, Health Care
- Stage:Pre-Seed, Seed, Series A
- Geography: Spain, Portugal, Poland
Investor stats
- Total investments: 84
- Round size: Seed $110k–$3.1M; Pre-Seed $110k–$574k
- Lead/follow: 61% lead, 39% follow
- Last fund: May invest from a new fund soon — raised $52M in 2020
Portfolio highlights
- 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.
- Orbital Paradigm —
Boost VC: The Pre-Seed Fund Making Sci-FI a Reality. Investing in crypto, virtual reality, augmented reality, AI, Ocean Tech, Space Tech, human augmentation, exoskeletons and more.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Virtual Reality
- Stage:Seed, Pre-Seed
- Geography: United States, Canada, United Kingdom
Investor stats
- Total investments: 287
- Round size: Seed $406k–$6.6M; Pre-Seed $100k–$2.6M
- Lead/follow: 17% lead, 83% follow
- Last fund: Likely still investing — raised $100M in 2022
Portfolio highlights
- SKETCHAR.io — Sketchar is the ultimate AR drawing app for art creation, learning to draw, and collaborating with 12M people. Try now!
- Nyad —
- Polkadot — Polkadot is a dedicated community that envisions a web where users own their digital identities and data, restoring their authority.
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Show more...Investment focus
- Industry: Health Care, Wellness, Medical
- Stage:Seed, Pre-Seed
- Geography: United States, Canada, United Kingdom
Investor stats
- Total investments: 195
- Round size: Seed $100k–$4M; Pre-Seed $20k–$800k
- Lead/follow: 4% lead, 96% follow
Portfolio highlights
- Jiseki Health — Jiseki is built on the belief that families and communities need and deserve a safety net, and to have peace of mind when things go wrong. We provide access and delivery of key advice, help, products and services through highly scalable SMS technology, powered by a combination of professionals and AI, and sold as a portable life benefit package..Text #help to 543210, to discover Jiseki services.
- Biome Analytics — Biome is an analytic applications that help cardiovascular teams do their best work. It helps forward thinking hospitals profitably transition and thrive in the new world of healthcare. During COVID-19, Biome has focused on assessing hospital capacity.
- NEXT Life Sciences — NEXT Life Sciences is developing the revolutionary Plan A™ procedure to bring the only scientifically proven technology in the category - Vasalgel® - to market.
Ability to open doors on opportunities (potential clients/strategic partners/suppliers/etc). Add market credibility, something missing in many start-ups.Know-how that can save you time, money and unnecessary stress and worry. Ability to complement the existing management team, filling gapsThey understand the difficulties andhardships of starting and building a business. They are motivated to work with you on the building process, and not just wait for the end result
Show more...Investment focus
- Industry: Fitness, Wellness, Health Care
- Stage:Seed, Pre-Seed
- Geography: Portugal, United States, United Kingdom
Investor stats
- Total investments: 7
- Round size: Seed $478k–$2.7M
- Lead/follow: 14% lead, 86% follow
Portfolio highlights
- Abtrace — Abtrace is an automated, self-learning care system where we can provide personalised care, delivered at population scale - where predictive, preventative and proactive approaches keep people healthy and out of hospital.
- sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
- ChemiTek — Certified & sustainable solutions for industrial maintenance. We have the solutions you need!
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.
Show more...Investment focus
- Industry: Manufacturing, Retail, Health Care
- Stage:Private Equity, Seed, Series A
- Geography: Portugal, Spain, Brazil
Investor stats
- Total investments: 70
- Round size: Seed $2.1M–$11M; Series A $7M–$16M
- Lead/follow: 76% lead, 24% follow
- Last fund: May invest from a new fund soon — last raise in 2018
Portfolio highlights
- Feedzai — Stop financial crime before it happens. Feedzai's AI-powered platform detects and prevents fraud, money laundering, and other risks across all channels.
- Luca — Luca's learning platform provides learning programs for primary and secondary school students. The learning platform offers pre-recorded K12 videos, gamified content and AI powered personalized study paths, covering the entire official academic curriculum and national exams prep. Luca is a VC backed startup with HQ in Madrid & MexicoCity
- Spotlite — Spotlite combines satellite data with AI to predict infrastructure risks before they become problems.
GED Ventures Portugal is an Investment firm.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Health Care
- Stage:Seed, Venture - Series Unknown, Pre-Seed
- Geography: Portugal, France, Germany
Investor stats
- Total investments: 16
- Round size: Seed $1.6M–$3.3M; Venture - Series Unknown $12M–$38M
- Lead/follow: 69% lead, 31% follow
Portfolio highlights
- Rofim — Rofim is a telemedicine platform which offers secure collaborative medical diagnostic services for healthcare professionals.
- Hoopers — Global basketball community platform connecting players, fans and enthusiasts through products, contents, experiences and NFTs.
- PluggableAI — FAN OF THE MATCH transforms fan passion in live events, sports, and media into AI-driven insights that boost engagement and create new revenue opportunities
COREangels Boston is a group of operators and entrepreneurs investing at the angel stage in startups which have low capital costs and are either special situations or unicorns-in-waiting.
Show more...Investment focus
- Industry: Artificial Intelligence, Software, Marketing
- Stage:Seed, Pre-Seed, Angel
- Geography: Portugal, Finland, United Kingdom
Investor stats
- Total investments: 14
- Round size: Seed $1.3M–$2.7M; Pre-Seed $83k–$1.2M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Tilect — Tilect built the Intelligent Algorithm Builder (IAB), an AI platform that lets business teams forecast sales, optimize and simulate pricing strategies in minutes. No months of spreadsheets, no costly consultants, just direct conversations with AI that deliver tailored solutions to real business constraints. The results speak for themselves: +90%forecast accuracy, profit gains of up to 200k/year in pilots. Tilect works with companies generating B€/year in revenue, helping them unlock 1–5% margin improvements. By replacing spreadsheets, consultants and slow internal AI teams, Tilect helps enterprises turning decision-making into a scalable, intelligent system that drives measurable growth.
- Weiver — Weiver helps businesses professionally manage, improve, and analyze reviews with a centralized AI platform.
- GOVA — GOVA is a food-biotech startup that uses creativity and delicious flavor to create the healthiest sugar on the planet.
Fitness VC funding in Portugal at a glance
Stats across 18 deals from 24 investors.
Access all 24 VC funds in Portugal Fitness startups.
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