# Top 25 Food and Beverage VC (Venture Capital) Funds in Portugal in May 2026 ## Indico Capital Partners - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 5 - Stages: Seed, Series A, Pre-Seed - Focus: Information Technology, E-Commerce, B2B 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. ## Portugal Ventures - Type: VC Fund - Location: Porto, Lisboa, Portugal - Relevant deals: 4 - Stages: Seed, Pre-Seed - Focus: Software, Information Technology, Health Care 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 ## Caixa Capital - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 3 - Stages: Seed, Series A - Focus: Software, Information Technology, SaaS 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. ## MSM - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 2 - Stages: Seed, Pre-Seed, Series A - Focus: Information Technology, Software, B2B MSM is a 45M€ early-stage impact VC fund. We invest in brave founders solving the world’s biggest social and environmental challenges. ## BlueCrow Capital - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 2 - Stages: Seed - Focus: FinTech, Payments, Mobile Payments BlueCrow Capital is a venture capital firm. ## Olisipo Way - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 2 - Stages: Pre-Seed, Seed, Convertible Note - Focus: Software, SaaS, Beauty 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. ## Lince Capital - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 2 - Stages: Seed - Focus: Information Technology, E-Commerce, SaaS 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. ## REDangels - Type: VC Fund - Location: Aveiro, Aveiro, Portugal - Relevant deals: 2 - Stages: Seed, Pre-Seed, Angel - Focus: Mobile, Internet of Things, Internet They believe the unbelievable and trust the untrustable. ## Bright Pixel (formerly Sonae IM) - Type: VC Fund - Location: Maia, Porto, Portugal - Relevant deals: 2 - Stages: Series A, Series B, Seed - Focus: Software, Information Technology, SaaS Bright Pixel Capital (former Sonae IM) is the technology investment arm of the multinational group Sonae. With special focus on cybersecurity, infrastructure software, retail technologies, business applications and emerging tech, it has a portfolio of more than 60 companies, from early to growth stages. Bright Pixel acts as a partner that bringsspecialized know-how, global footprint, and a wealth of experience in helping companies from early stage to IPO. ## COREangels - Type: VC Fund - Location: Ílhavo, Aveiro, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Angel - Focus: Software, E-Commerce, Information Technology Where startups can get much more than money, and Investors can professionally invest as angels. ## Market One Capital - Type: VC Fund - Location: Luxembourg, Luxembourg, Luxembourg - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Internet, E-Commerce, SaaS Market One Capital | Seed fund empowering marketplaces and network effects platforms across Europe ## Flyer One Ventures - Type: VC Fund - Location: Kiev, Kyyivs'ka Oblast', Ukraine - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Software, Education, Artificial Intelligence Flyer One Ventures is an international early-stage venture capital firm focused on early-stage startups from CEE region. The fund invests in future-proof startups, founded by exceptional teams, and operating on global markets worth more than $10 billion. Flyer One Ventures funds startups in Mobile, Health Tech, EdTech, Fitness & Wellness, B2BSaaS, Gaming, FoodTech, and AI/ML industries and helps them scale on international markets. Founded by the co-founder of BetterMe and supported by Genesis Tech, Flyer One Ventures has deep expertise in Digital Marketing, Product, PR, Branding, and Recruiting. Along with the financial investment, Flyer One Ventures actively supports its portfolio companies, helping them optimize Digital Marketing campaigns, hire R&D staff, build user-friendly products, and fundraise Series A and Series B rounds. Flyer One Ventures' ultimate goal is to support early-stage startups in the geographies with low access to early financing and help them become global leaders by mentorship and daily support. ## LC Ventures - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series D - Focus: Information Technology, Artificial Intelligence, SaaS We’re an early stage European venture capital firm partnering with globally minded founders.We’re supportive, founder focused, and aim to work together with you as a close and collaborative team of independent thinkers. Along with the support of our entire network, each member of our team brings their own personal experience to the table. Thefirst ticket is up to 200K€ and the total investment in a given startup can be up to 1M€.We decide investments quickly, allowing the founders to get back focusing on growing the business. Our team and network of international mentors help young startups to scale quickly and to prepare for the next rounds.Our partners have been investing in tech-based startups since 2000 and have a portfolio of more than 100 companies in the USA, Brazil, The Netherlands, Spain and Portugal. ## CaixaBank - Type: VC Fund - Location: Barcelona, Catalonia, Spain - Relevant deals: 1 - Stages: Debt Financing, Seed, Pre-Seed - Focus: Renewable Energy, Apps, Solar Portal web corporativo de CaixaBank. Información corporativa para Accionistas e Inversores, información comercial y sobre responsabilidad corporativa. ## Casa Verde Capital - Type: VC Fund - Location: Los Angeles, California, United States - Relevant deals: 1 - Stages: Seed, Series A, Series B - Focus: Cannabis, Software, Health Care As both the domestic and international markets continue to evolve and mature, Casa Verde maintains a view that cannabis will be among the most compelling investment themes of our generation. ## Aqua Spark - Type: VC Fund - Location: Utrecht, Utrecht, The Netherlands - Relevant deals: 1 - Stages: Series A, Seed - Focus: Biotechnology, Seafood, Aquaculture Aqua-Spark is an investment fund with a focus on sustainable aquaculture businesses around the world. The small-to-medium enterprises (SMEs) they invest in are working toward the production of safe, accessible aquatic life, such as fish, shellfish and plants, in ways that do not harm their oceans. Their investors value the fact that each investmentaims to create triple impact—specifically, each investment is chosen for its potential to generate significant financial returns while also activating positive environmental and social outcomes.Aqua-Spark believes that committing to a long-term vision is the way to realize effective and lasting impact results. When it comes to investments, they do not seek quick exits; instead, they look for entrepreneurs who strive to build and scale toward the future, who see their business as major economic opportunities that can also help solve looming environmental and food security challenges over the long-term. As an essential of each investee, Aqua-Spark seeks sustainability. ## Brpx - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Software, SaaS, Information Technology A prominent European venture capital in Retail Technologies, Digital Infrastructure, Cybersecurity, and Emerging Technologies ## Shio Capital - Type: VC Fund - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Food and Beverage, Food Processing, Grocery Shio Capital Venture Investments in Businesses that Change the World ## Shilling VC - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Information Technology, Software, Internet Shilling is an early-stage venture capital firm backing exceptional founders from the start.Shilling invests in a wide range of verticals and seeks out the biggest opportunities across all B2B and consumer categories. Leveraging the concept of Founder LPs, Shilling brings much more than capital and offers through its Shilling Platform, directaccess to successful founders and executives of leading companies. This platform supports entrepreneurs in validating and developing their ventures, which then accelerate their growth into global markets. ## WISENEXT - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Software, Artificial Intelligence, Internet WiseNext is a venture and smart capital investment company. We focus on helping young entrepreneurs with innovative ideas that have an impact on our society, providing capital, knowledge and networking. ## Vershina Capital - Type: VC Fund - Location: Moscow, Moscow City, Russian Federation - Relevant deals: 1 - Stages: Secondary Market, Series A - Focus: EdTech, Software, Education Vershina Capital is a venture capital fund with the focus on innovative business models and growing markets. We provide our financing and expertise to early stage startups in online education, foodtech, e-commerce and saas business models. ## Iberis Capital - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Information Technology, Software, B2B Iberis is an investment manager that operates a value-oriented investment management. ## Seedcamp - Type: VC Fund - Location: London, England, United Kingdom - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Software, FinTech, SaaS Seedcamp is Europe's seed fund, identifying and investing early in world-class founders attacking large, global markets and solving real problems using technology. The Seedcamp Nation includes over 400 startups building breakout businesses that change the way people live, interact and buy and includes publicly listed UiPath, Wise, and unicornsRevolut, Hopin, Sorare, Pleo, and wefox along with fast-growing businesses such as Grover, viz.ai and Ezra. Seedcamp fast-tracks a founder's vision and creates value through immediate access to smart capital, a lifelong community of support and a global network built upon more than a decade's experience backing exceptional talent.Seedcamp fast-tracks a founder's vision and creates value through immediate access to smart capital, a lifelong community of support, and a global network built upon more than a decade's experience backing exceptional talent. ## ENISA - Type: VC Fund - Location: Madrid, Madrid, Spain - Relevant deals: 1 - Stages: Seed, Debt Financing, Pre-Seed - Focus: Software, Health Care, Information Technology ENISA is a public company under the Ministry of Industry, Energy and Tourism, through the Directorate General of Industry and Small and medium-sized enterprises which, since 1982, actively participates in the financing of viable and innovative business projects. ## Insta Ventures - Type: VC Fund - Location: Limassol, Limassol, Cyprus - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Software, E-Commerce, Advertising Insta Ventures is a venture capital firm that has been investing in different IT technology sectors since 2019. Currently, we are looking for tech startups that are in the early stages of development of their products. Our investment team consists of experienced professionals with solid backgrounds in the IT sphere. Our goal is to help ambitiousteams create innovative products, spread them globally, and maintain fast-growing companies.Typically, we invest $100K-500K during a growing stage of a company's lifecycle (seed / late seed / pre-round A), and then help to develop its marketing and sales, as well as prepare the company for the next investment phase.We appreciate co-investments. Let's invest together!