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Top 50 Health Care Startup Investors in Portugal (September 2026)

The most active venture capital funds and angel investors investing in Portugal Health Care startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Portugal Health Care startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Portugal Ventures
VC Fund
52 Portugal, United States, France Seed, Venture - Series Unknown, Pre-Seed Software, Information Technology, Artificial Intelligence $107k–$3.6M
Caixa Capital
VC Fund
13 Portugal, United States, Spain Seed, Series A, Pre-Seed Software, Information Technology, Health Care $108k–$12M
Armilar Venture Partners
VC Fund
12 Portugal, United States, United Kingdom Seed, Series A Software, Information Technology, Artificial Intelligence $520k–$17M
Shilling VC
VC Fund
10 Portugal, Spain, United States Seed, Pre-Seed, Series A Information Technology, Software, Artificial Intelligence $125k–$20M
Olisipo Way
VC Fund
7 Portugal, Germany, Lithuania Seed, Pre-Seed, Venture - Series Unknown Software, Information Technology, Analytics $118k–$5.3M
Bynd Venture Capital
VC Fund
7 Portugal, Spain, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Health Care $483k–$50M
Lince Capital
VC Fund
6 Portugal, United Kingdom, United States Seed, Venture - Series Unknown, Series A Artificial Intelligence, Hospitality, E-Commerce $859k–$16M
Demium Capital
VC Fund
5 Spain, Portugal, Poland Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $110k–$3.1M
Iberis Capital
VC Fund
5 Portugal, United States, Spain Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $107k–$23M
Vesalius Biocapital Partners
VC Fund
5 Belgium, Germany, France Series A, Series B, Series C Biotechnology, Health Care, Medical $3.9M–$100M
M4 Ventures
VC Fund
4 Portugal, United Kingdom, United Arab Emirates Seed, Series A, Venture - Series Unknown SaaS, Beauty, FinTech $2.1M–$5.3M
Explorer Investments
VC Fund
4 Portugal, Spain, Brazil Private Equity, Seed, Series A Manufacturing, Retail, Health Care $1.7M–$16M
TheVentureCity
VC Fund
3 United States, Spain, Brazil Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $100k–$18M
EISMEA
VC Fund
3 Spain, Italy, United Kingdom Grant, Venture - Series Unknown, Seed Manufacturing, Biotechnology, Software $53k–$2.6M
BlueCrow Capital
VC Fund
3 Portugal, United Kingdom, Spain Seed, Venture - Series Unknown, Series A Information Technology, Manufacturing, SaaS $697k–$18M
Biovance Capital
VC Fund
3 Spain, Portugal, The Netherlands Series A, Seed Medical, Biotechnology, Pharmaceutical $13M–$13M
Bionova Capital
VC Fund
3 Portugal, United Kingdom, Spain Seed, Pre-Seed, Series A Biotechnology, Medical, Health Care $329k–$1.9M
PRIMAVERA Business Software Solutions
VC Fund
3 Portugal Seed, Pre-Seed Software, Wellness, Nutrition $2.1M–$5M
3xP Global
VC Fund
2 Portugal, Spain, France Private Equity, Seed, Venture - Series Unknown Information Technology, Health Care, Software $881k–$3.6M
LC Ventures
VC Fund
2 Portugal, United Kingdom, United States Seed, Pre-Seed, Series A Information Technology, Software, Artificial Intelligence $12k–$12M
TrulyMad
VC Fund
2 Portugal Pre-Seed Beauty, Fitness, Wellness $550k–$560k
Critical Ventures
VC Fund
2 United States, Portugal, Germany Seed, Series A, Series B Software, Information Technology, Artificial Intelligence $1.2M–$19M
Humberto Ayres Pereira
Angel
2 Portugal, United States, Canada Seed, Pre-Seed, Series A SaaS, Software, Apps $1.2M–$3.3M
Start Ventures
VC Fund
2 United States, United Kingdom, Portugal Seed, Series A, Venture - Series Unknown InsurTech, Software, Insurance $940k–$17M
BREEGA
VC Fund
2 France, United Kingdom, United States Seed, Series A Software, FinTech, Financial Services $1.1M–$24M
Beta Capital
VC Fund
2 Portugal, Spain, Brazil Seed, Venture - Series Unknown Software, Biotechnology, Health Care $476k–$3.1M
Brighteye Ventures
VC Fund
2 United Kingdom, France, Spain Seed, Series A, Pre-Seed Education, Software, E-Learning $541k–$20M
MSM
VC Fund
2 United Kingdom, Portugal, Germany Seed, Pre-Seed, Series A Information Technology, E-Commerce, B2B $244k–$52M
AngelsWay
VC Fund
2 Portugal Seed E-Commerce, Health Care, Artificial Intelligence $57k–$704k
Ideias Glaciares
Angel
2 Portugal, United States Pre-Seed, Seed Wellness, Content Delivery Network, Application Performance Management $168k–$1.5M
GED Ventures Portugal
VC Fund
2 Portugal, France, Germany Seed, Venture - Series Unknown, Pre-Seed Software, Artificial Intelligence, Health Care $1.5M–$38M
OW Ventures
VC Fund
2 Portugal Pre-Seed Software, Health Care, B2B $58k–$58k
SOSV
VC Fund
2 United States, India, United Kingdom Seed, Convertible Note, Pre-Seed Biotechnology, Health Care, Software
Nuno Sebastiao
Angel
1 United States, Spain, Portugal Seed, Series A FinTech, Banking, Finance
Pankaj Chaddah
Angel
1 India, France, Portugal Seed, Pre-Seed, Series A E-Commerce, Fitness, Health Care
200M
VC Fund
1 Portugal, Brazil, France Seed, Series A Health Care, Artificial Intelligence, Therapeutics
Draper Startup House Ventures
VC Fund
1 United States, Singapore, Australia Pre-Seed, Seed Software, FinTech, Analytics $875k–$4.3M
Deepinder Goyal
Angel
1 India, United States, Portugal Seed, Series B, Pre-Seed Health Care, E-Commerce, Wellness
CTT
VC Fund
1 Portugal Pre-Seed Virtual Assistant, Assistive Technology, Artificial Intelligence
Green Innovations
VC Fund
1 Portugal, United States Seed, Series A Pet, Medical, Genetics
Boehringer Ingelheim Venture Fund
VC Fund
1 United States, Germany, Switzerland Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $1.8M–$50M
Scott MacMillan
Angel
1 Portugal Pre-Seed Apps, Fitness, Big Data
Pathena
VC Fund
1 Portugal, Finland, Germany Seed, Series A, Series C Health Care, Artificial Intelligence, B2B $1.5M–$39M
Casa Verde Capital
VC Fund
1 United States, Germany, United Kingdom Seed, Series A, Series B Cannabis, Software, Health Care $2M–$38M
Social Impact Fund
VC Fund
1 Spain, Portugal, United States Debt Financing, Seed Software, Education, Apps $995k–$5.7M
HTGF (High-Tech Gruenderfonds)
VC Fund
1 Germany, Switzerland, United States Seed, Series A Software, Biotechnology, Information Technology $850k–$31M
StartUp Health
VC Fund
1 United States, Canada, United Kingdom Seed, Pre-Seed Health Care, Wellness, Medical $20k–$4M
Boost VC
VC Fund
1 United States, Canada, United Kingdom Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, Virtual Reality $100k–$8.9M
Jeremy Hendon
Angel
1 Portugal Pre-Seed Apps, Fitness, Big Data
ChangePartners
VC Fund
1 Portugal Seed Medical, Therapeutics, Biotechnology
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Portugal Ventures
VC Fund · Porto, Lisboa, Portugal · 52 investments in Portugal Health Care startups

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

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Portugal, United States, France

Investor stats

  • Total investments: 369
  • Round size: Seed $121k–$2M; Pre-Seed $107k–$796k; Venture - Series Unknown $121k–$3.6M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Aptoide — Find, discover and download the best apps and games for Android in the official Aptoide app store
  • Omniflow — Omniflow provides solutions powered by wind and solar for public spaces, Smart Lamppost, Smart Bench, Solar Smart Lighting, IoT Software, , Smart Pole, Smart City, Sustainability, CO2 reduction, decarbonization, Sustainable services
  • Codeplace — The best place to develop your coding skills with a comprehensive, specially curated list of tutorials and books.
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Caixa Capital
VC Fund · Lisboa, Lisboa, Portugal · 13 investments in Portugal Health Care startups

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.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Portugal, United States, Spain

Investor stats

  • Total investments: 88
  • Round size: Seed $111k–$3M; Pre-Seed $108k–$1.7M; Series A $3M–$12M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • 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.
  • Noxus — At Spot, we're crafting the operating system for tomorrow's workforce, harnessing AI to streamline influencer marketing. Our platform empowers agencies, businesses, and content creators to collaborate effectively and reach audiences with ease.
  • Infraspeak — Infraspeak is an Intelligent CMMS Software that brings outstanding flexibility, connectivity and intelligence to your operations.
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Armilar Venture Partners
VC Fund · Lisboa, Lisboa, Portugal · 12 investments in Portugal Health Care 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: 117
  • Round size: Seed $520k–$3.9M; Series A $4M–$17M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely actively investing — fresh fund, raised $138M in 2025

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.
  • Neuraspace — Focus on fewer alerts with more time to manoeuver, with a scalable AI/ML solution from Neuraspace
  • DOJO AI — The only tool you need to grow your Brand.
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Shilling VC
VC Fund · Lisboa, Lisboa, Portugal · 10 investments in Portugal Health Care startups

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.

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Investment focus

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

Investor stats

  • Total investments: 118
  • Round size: Seed $274k–$5M; Pre-Seed $125k–$3M; Series A $5M–$20M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: Likely still investing — raised $49M in 2024

Portfolio highlights

  • Tucuvi — Tucuvi is a health technology company unlocking efficient and high-quality healthcare at scale with a CE-marked platform for Phone Consultation Automation. We develop safe and clinically validated Conversational AI for any care pathway, enabling clinical teams to augment their capacities, improve processes’ efficiency and efficacy, and achievebetter patient outcomes and satisfaction through continuous and personalized care.
  • Balance — Balance is a private digital health company based in Spain that operates in the clinics and outpatient healthcare services sector. company's core mission is to provide an integrated, medical, and sustainable approach to treating obesity and overweight conditions. Moving away from traditional restrictive diets, the company leverages asubscription-based telehealth model combined with clinical pharmacology.
  • Punto Health — AI-powered digital platform for management of Alzheimer's and other dementias.
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Olisipo Way
VC Fund · Lisbon, Lisboa, Portugal · 7 investments in Portugal Health Care startups

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.

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Investment focus

  • Industry: Software, Information Technology, Analytics
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Portugal, Germany, Lithuania

Investor stats

  • Total investments: 43
  • Round size: Seed $250k–$5.3M; Pre-Seed $118k–$1.5M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • DoJob.ai — Hybrid Intelligence Innovation Project
  • OSCAR — OSCAR offers a variety of fixed-price home services, including maintenance, cleaning, laundry, and beauty services, all accessible through a user-friendly app. Customers can easily schedule appointments for these services, with options available for immediate bookings. Additionally, OSCAR provides repair services for household appliances likewashing machines and boilers, ensuring convenience for users. The platform streamlines the process of finding and scheduling necessary home services, catering to the needs of busy individuals and families. Through its comprehensive service offerings, OSCAR simplifies home management for its users.
  • Fluxe Insurance Software — FLUXE develops AI software based to build digital tools for claim automation aligned with the challenges of the insurance industry!
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Bynd Venture Capital
VC Fund · Lisbon, Lisboa, Portugal · 7 investments in Portugal Health Care startups, 7 in the past 12 months

Bynd is a leading Iberian Venture Capital firm

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Investment focus

  • Industry: Software, SaaS, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, Spain, United Kingdom

Investor stats

  • Total investments: 75
  • Round size: Seed $483k–$5.4M; Pre-Seed $552k–$2.1M; Series A $2.3M–$50M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: Likely actively investing — fresh fund, raised $43M in 2024

Portfolio highlights

  • Pollen — Electric mobility for lightweight vehicles is about to get simpler, more affordable and more reliable.
  • Wio Capital — Wio Capital is a wealthtech company that builds an AI-powered wealth management platform for financial advisors, offices, and bankers.
  • Spacebackend — Lynapse by Spacebackend unifies interface modeling, version control, testing, and validation. Convert ICDs into traceable, deterministic implementations with human-in-the-loop review.
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Lince Capital
VC Fund · Lisbon, Lisboa, Portugal · 6 investments in Portugal Health Care startups

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.

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Investment focus

  • Industry: Artificial Intelligence, Hospitality, E-Commerce
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Portugal, United Kingdom, United States

Investor stats

  • Total investments: 57
  • Round size: Seed $859k–$6.8M; Series A $2.1M–$16M; Venture - Series Unknown $1.3M–$13M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — raised $22M in 2024

Portfolio highlights

  • BIZAY — Bizay enables the world’s largest catalogue of customizable products. Its technology platform operates across Europe, South and North America, and digitalizes the booming and huge industry of product customization by empowering brands, people and societies to self-express. It enables local manufacturers, brands, and wholesalers to offercustomization on any product in the world and reduces the cost of production by half through batching and supply-chain optimization technologies. Our platform/technology is aimed at three customer targets:(i) B2B2C provides a platform for businesses to design and sell customized products from Bizay’s existing product catalogue, with the four main customer segments: Resellers, Content Creators (Independent artists, influencers or event or managers that want to sell customized merchandise with their branding, designs or artwork), e-Commerce entrepreneurs (Small entrepreneurs that aim to expand their catalogue and upgrade their business by adding customized products to their online stores), as well as big household brands & enterprises (well-established business in need of a partner that is capable of handling large volume of customized products orders or to expand their existing offer)(ii) B2B, which is focused on SMBs, provides an extensive product catalogue for customized products to be used in several industries (ex: uniforms for restaurants and bags for retail shops) (iii) Customization-as-a-Service (CaaS), where clients (typically major brands) capitalize on Bizay’s technology, expertise, customization options, techniques and offline suppliers to customize their own products
  • 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.
  • Neuraspace — Focus on fewer alerts with more time to manoeuver, with a scalable AI/ML solution from Neuraspace
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Demium Capital
VC Fund · Valencia, Comunidad Valenciana, Spain · 5 investments in Portugal Health Care startups

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

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Spain, Portugal, Poland

Investor stats

  • Total investments: 85
  • Round size: Seed $113k–$3.1M; Pre-Seed $110k–$574k
  • Lead/follow: 61% lead, 39% follow
  • Last fund: May invest from a new fund soon — raised $59M 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 spatial analytics platform for architecture, urban planning and development teams. Site analysis, GIS-free mapping and location intelligence. 400+ cities covered.
  • Orbital Paradigm — Orbital Paradigm builds reusable vehicles that carry cargo to space and bring it back. Dedicated missions, any orbit, on your schedule. Based in Madrid.
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Iberis Capital
VC Fund · Lisbon, Lisboa, Portugal · 5 investments in Portugal Health Care startups

Iberis is an investment manager that operates a value-oriented investment management.

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Investment focus

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

Investor stats

  • Total investments: 61
  • Round size: Seed $1.2M–$4.6M; Pre-Seed $107k–$4.4M; Series A $5.3M–$23M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Hope Care Health — Hope Care is a digital health company that combines services, products, and cutting-edge technology platforms to enable the delivery of Social and Health Care without barriers.
  • Reckon.ai — Whether you're building an unattended store or supplying the equipment behind it, Reckon's patented AI technology transforms existing infrastructure into smart, autonomous assets.
  • Jscrambler — Jscrambler is the leading client-side security solution for JavaScript in-app protection and real-time webpage monitoring. Start your free trial today!
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Vesalius Biocapital Partners
VC Fund · Strassen, Luxembourg, Luxembourg · 5 investments in Portugal Health Care startups

Vesalius Biocapital Partners invests in companies active in human health through venture capital funds raised since 2007. They have contributed to developing 20 companies since inception.With more than € 150 million under management in two funds. Vesalius Biocapital Partners plays the role of lead investor in the large majority of its financingrounds.Their companies are based in Europe allowing easy interaction with management.They invest in all stages of development and do not shy away from relatively early-stage projects with a sound proprietary technology and corresponding IP, unique team skills and a clear competitive edge based on solid data.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Series C
  • Geography: Belgium, Germany, France

Investor stats

  • Total investments: 61
  • Round size: Series A $3.9M–$20M; Series B $4.4M–$26M; Series C $7M–$100M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $103M in 2023

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.
  • ENYO Pharma — ENYO Pharma is a biopharmaceutical company incorporated in Jan, 2014, by four scientists of the Infectiology Research Center in Lyon, France, and three seeding partners (2 privates and 1 public).The company is based in the Infectiology Center of Lyonbiopôle in Lyon, France and maintains tight collaborations with the seminal Inserm team and theBSL4 laboratory Inserm-Jean Mérieux.ENYO Pharma has licensed several Inserm patents issued from the discoveries of the founding scientists and developed a unique platform for the identification of intracellular therapeutic targets and molecules.The company is developing treatments against the most important viruses and is thriving to become a global leader in anti-virals. Research and Development is currently focused on human infecting viruses, with the first two programs being dedicated to the treatment of severe and seasonal flu and chronic hepatitis B. The company plans to conduct its molecules to Phase II clinical trials.
  • Inflammatix — Inflammatix develops rapid point of care diagnostic tests by reading the immune system, and resolves major clinical health challenges.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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M4 Ventures
VC Fund · Lisboa, Lisboa, Portugal · 4 investments in Portugal Health Care startups

M4 Ventures helps startups to grow and expand globally through experience and hands-on collaboration.

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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.
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Explorer Investments
VC Fund · Lisboa, Lisboa, Portugal · 4 investments in Portugal Health Care 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, Health Care
  • Stage:Private Equity, Seed, Series A
  • Geography: Portugal, Spain, Brazil

Investor stats

  • Total investments: 88
  • Round size: Seed $1.7M–$11M; Series A $6.9M–$16M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: May invest from a new fund soon — raised $154M in 2018

Portfolio highlights

  • 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
  • Neuraspace — Focus on fewer alerts with more time to manoeuver, with a scalable AI/ML solution from Neuraspace
  • Spotlite — Spotlite combines satellite data with AI to predict infrastructure risks before they become problems.
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TheVentureCity
VC Fund · Miami, Florida, United States · 3 investments in Portugal Health Care startups

TheVentureCity is a global early-stage venture fund, investing in product-centric startups across the US, Europe, and Latam. With more than $150M under management, the firm invests from pre-seed and seed with a ticket size from $100-500k to Series A with $1-4M.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Spain, Brazil

Investor stats

  • Total investments: 172
  • Round size: Seed $100k–$4.9M; Pre-Seed $100k–$1.5M; Series A $2.3M–$18M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely actively investing — fresh fund, raised $2.8M in 2026

Portfolio highlights

  • Belo — Crypto for everyone, everyday
  • Senticell — Senticell is a biotechnology and molecular diagnostics company developing a breakthrough platform that uses red blood cell (RBC) DNA and cfDNA analysis to revolutionize non-invasive disease detection. The research demonstrates that RBCs act as immune-responsive biosensors, capable of carrying molecular and genetic biomarkers from across the body -unlocking a powerful and previously untapped gateway for liquid biopsy and precision diagnostics. By harnessing this cellular intelligence, we enable early disease detection, biomarker discovery and AI-driven diagnostic insights to support precision medicine and personalised treatment outcomes.
  • Sidekick — Expertly-managed portfolios for the modern investor
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EISMEA
VC Fund · 3 investments in Portugal Health Care startups

Investment focus

  • Industry: Manufacturing, Biotechnology, Software
  • Stage:Grant, Venture - Series Unknown, Seed
  • Geography: Spain, Italy, United Kingdom

Investor stats

  • Total investments: 3116
  • Round size: Seed $53k–$914k; Grant $54k–$2M; Venture - Series Unknown $60k–$2.6M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • AGADE — Esoscheletri Agade | Il primo esoscheletro intelligente per lavoratori progettato per ridurre il rischio di disturbi muscolari delle spalle nella movimentazione manuale dei carichi.
  • BroadBit Batteries — BroadBit is a technology company developing revolutionary new batteries using novel sodium-based chemistries to power the future green economy.
  • Aenitis Technologies — We develop innovative devices for cells therapy processing using Acoustic Radiation Forces.
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BlueCrow Capital
VC Fund · Lisboa, Lisboa, Portugal · 3 investments in Portugal Health Care startups

BlueCrow Capital is a venture capital firm.

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Investment focus

  • Industry: Information Technology, Manufacturing, SaaS
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Portugal, United Kingdom, Spain

Investor stats

  • Total investments: 32
  • Round size: Seed $697k–$10M; Series A $6.5M–$16M; Venture - Series Unknown $3M–$18M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Bighub — The All-in-One Platform for european marketplace growth. Integration, Catalog SEO, Pricing, Financing, Logistics, Helpdesk, and Resale.
  • Flowbotic — development and manufacturing of AGVs and AMRs
  • Bling Energy — Bling Energy is a startup that focuses on providing more efficient and sustainable energy solutions, mostly through solar panels.
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Biovance Capital
VC Fund · Lisbon, Lisboa, Portugal · 3 investments in Portugal Health Care startups

Biovance Capital is a new € 51M fund to invest in early-stage biotech companies across Europe developing innovative therapeutics in all disease areas and drug modalities (small and large molecules, vaccines, cell, and gene therapies).

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Investment focus

  • Industry: Medical, Biotechnology, Pharmaceutical
  • Stage:Series A, Seed
  • Geography: Spain, Portugal, The Netherlands

Investor stats

  • Total investments: 6
  • Round size: Series A $13M–$13M
  • Lead/follow: 100% lead, 0% follow
  • Last fund: Likely still investing — raised $55M in 2024

Portfolio highlights

  • Vaxdyn — Preventing the next global health crisis Our mission is to prevent and alleviate the global health crisis caused by the pathogenic bacteria resistant to ant ...
  • Laigo Bio — Laigo Bio uses E3 ligase internalization to precisely degrade membrane proteins linked to autoimmune and inflammatory disorders.
  • Mondego Bio — Headquartered in Portugal’s main biotech park, Biocant, Mondego Bio is developing best-in-class protein tyrosine phosphatase non-receptor type 2 (PTPN2) inhibitors, providing a potential immuno-oncological therapy with an improved safety and tolerability profile.
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Bionova Capital
VC Fund · Lisbon, Lisboa, Portugal · 3 investments in Portugal Health Care startups

Bionova Capital, previously known as Hovione Capital, is a healthcare-focused venture capital firm, investing in early-stage life science companies. It was founded in 2015 by the shareholders of Hovione, one of the largest pharmaceutical companies in Portugal, with manufacturing and research operations in USA, Ireland, China and Portugal. BionovaCapital invests in groundbreaking therapeutics, medtech and digital health startups across Europe.

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Investment focus

  • Industry: Biotechnology, Medical, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, United Kingdom, Spain

Investor stats

  • Total investments: 10
  • Round size: Seed $329k–$1.9M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Delox — Leader in advanced bio-discontamination solutions, Delox offers cutting-edge technology with vaporized hydrogen peroxide (VHP) for critical environments, laboratories, and healthcare. Validated safety and efficacy for a safer world.
  • Adapttech — Adapttech is a biomedical company that uses innovative, smart and wearable technologies to deliver full adaptation and comfort to people with physical limitations.
  • SolasCure — SolasCure aims to support healthcare professionals with wound care products that significantly improve the health and wellbeing of patients with chronic wounds.
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PRIMAVERA Business Software Solutions
VC Fund · Braga, Braga, Portugal · 3 investments in Portugal Health Care startups

PRIMAVERA is a technology company specialized in the development of business management solutions aimed at simplifying life in organizations, increasing value creation. We believe in technology as one of the main driving forces behind business management. We exist so that organizations like yours can have simpler management processes and createmore value. PRIMAVERA is the result of the strength of our conviction. In 1993, with a disruptive idea and tremendous determination, the first company to develop management solutions for Windows was born in Portugal.A disruptive start that we have maintained to the present day, providing a vast portfolio of management solutions for companies of all sizes, operating in every sector of activity.With a determination that never wavers and a confidence renewed every day by more than 40,000 customers spread across nearly 20 countries, we will continue to push back the limits in our search for innovative management solutions that simplify business management.

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Investment focus

  • Industry: Software, Wellness, Nutrition
  • Stage:Seed, Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 3
  • Round size: Seed $2.1M–$5M
  • Lead/follow: 0% lead, 100% 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.
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3xP Global
VC Fund · Lisboa, Lisboa, Portugal · 2 investments in Portugal Health Care startups

3XP Global is an Asset Management firm with a distinct track record in terms of ESG Integration in the Investment Process and an Active Role in helping founders throughout the investment cycle.

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Investment focus

  • Industry: Information Technology, Health Care, Software
  • Stage:Private Equity, Seed, Venture - Series Unknown
  • Geography: Portugal, Spain, France

Investor stats

  • Total investments: 17
  • Round size: Seed $881k–$3.6M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • Amparo — We empower amputees so they can live life to the full. Amparo is a developer, manufacturer and distributor of prosthetic components. It developed the Confidence Socket, which is the interface between the patient's residual limb and the prosthetic leg itself. 1) The fitting process is as fast as 1h time; 2) The material can be remolded 10times, saving huge costs of health providers; and 3) All tools fit into a sports bag. making it possible to service amputee anywhere in the world.
  • ECO-ONE — ECO-ONE provides sustainability and circular economy solutions for the hotel sector.
  • BloodFlow — BloodFlow is the invisible layer of clinical intelligence embedded in every EMR, continuously augmenting clinicians with real-time, context-aware medical insight.
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LC Ventures
VC Fund · Lisbon, Lisboa, Portugal · 2 investments in Portugal Health Care startups

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.

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Investment focus

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

Investor stats

  • Total investments: 65
  • Round size: Seed $278k–$4.9M; Pre-Seed $12k–$417k; Series A $5.4M–$12M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — raised $17M in 2018

Portfolio highlights

  • Lyzer — The groceries marketplace where you can find everthing you need. Buy online groceries as fast as in 4 hours with personalized picking.
  • Musiversal — Record your music in real time with world-class session musicians, vocalists, producers and audio engineers
  • Primetag — AI-native influencer & creator marketing platform for brands & agencies. Find the best creators, analyse the market and competitors, and measure campaign performance.
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TrulyMad
VC Fund · 2 investments in Portugal Health Care startups

TrulyMad Business Accelerator

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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.
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Critical Ventures
VC Fund · Coimbrã, Leiria, Portugal · 2 investments in Portugal Health Care startups

Critical Ventures is venture capital arm of Critical Group. It partners with the most inspiring and courageous entrepreneurs developing innovative technologies with the potential to disrupt global markets.It is designed to support entrepreneurs from an early stage, with expertise, strategic guidance and a unique ecosystem of technologybusinesses, helping to build companies that are future pioneers with the ability to shape new markets.

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Investment focus

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

Investor stats

  • Total investments: 9
  • Round size: Seed $1.2M–$13M; Series A $2.8M–$19M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: May invest from a new fund soon — last raise in 2011

Portfolio highlights

  • Almetra — We use computer vision and AI analytics to provide insights into manual assembly processes - our platform supports process engineers in driving productivity and quality of assembly processes
  • Humanos — The Risk Network for AI https://t.co/RzfFeAgNCj
  • RunSafe Security — Secure embedded systems with RunSafe Security's runtime cybersecurity protection, integrating build-time defenses without affecting performance.
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Humberto Ayres Pereira
Angel · 2 investments in Portugal Health Care startups

Ayres Pereira is based out of Portugal and currently works as a Data and productivity for Superhuman. Ayres previously worked as a Founder & CEO at Rows. Ayres Pereira attended the Harvard Business School.

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Investment focus

  • Industry: SaaS, Software, Apps
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Portugal, United States, Canada

Investor stats

  • Total investments: 9
  • Round size: Seed $1.2M–$3.3M; Pre-Seed $1.3M–$1.9M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Puter — Puter is a cloud-based virtual computer operating system enabling users to create, store, and edit files remotely. Being a cloud-based platform users are able to access the operating platform through any browser and can also search, preview, sort, and personalize their user Data.
  • OSCAR — OSCAR offers a variety of fixed-price home services, including maintenance, cleaning, laundry, and beauty services, all accessible through a user-friendly app. Customers can easily schedule appointments for these services, with options available for immediate bookings. Additionally, OSCAR provides repair services for household appliances likewashing machines and boilers, ensuring convenience for users. The platform streamlines the process of finding and scheduling necessary home services, catering to the needs of busy individuals and families. Through its comprehensive service offerings, OSCAR simplifies home management for its users.
  • MyCareforce — The platform that connects nurses to available shifts.
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Start Ventures
VC Fund · Lisbon, Lisboa, Portugal · 2 investments in Portugal Health Care startups

BiG Start Ventures is an early-stage VC investing globally in B2B Fintech, Insurtech, Regtech and Cybersecurity. Onetier Partners, SCR, S.A.

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Investment focus

  • Industry: InsurTech, Software, Insurance
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: United States, United Kingdom, Portugal

Investor stats

  • Total investments: 36
  • Round size: Seed $940k–$8M; Series A $5.3M–$17M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Finovox — Finovox provides a solution for detecting false documents. They offer investigative tools to analyze, understand, and explain fraud. Additionally, they provide users with hard evidence of fraud.
  • Humanos — The Risk Network for AI https://t.co/RzfFeAgNCj
  • WeatherPromise — WeatherPromise offers weather forecasts. It provides vacation, outdoor events, and outdoor activity reports.
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BREEGA
VC Fund · London, England, United Kingdom · 2 investments in Portugal Health Care startups, 10 in the past 12 months

VCs use all sorts of tricks to attract the best companies. We do too. But as founders, we know that the main reason you choose an investor to be a part of your journey is because you like them. You trust them. Their values align with yours.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A
  • Geography: France, United Kingdom, United States

Investor stats

  • Total investments: 150
  • Round size: Seed $1.1M–$9M; Series A $4.2M–$24M
  • Lead/follow: 69% lead, 31% follow
  • Last fund: Likely still investing — raised $165M in 2023

Portfolio highlights

  • Bondio — Connect instantly to 1000+ networks in 200+ countries, with 0 commitments
  • Moneybox — Moneybox is the simple way to save, invest, buy your first home, and combine your old pensions - all with one award-winning app. Download now.
  • Biochar Industrial Group — Biochar Industrial Group partners with agricultural processors to convert biomass waste into biochar through industrial pyrolysis. The company finances, installs, and operates biochar production systems that process agricultural residues such as palm kernel shells, cashew husks, and sawdust. It manages biochar production, carbon creditverification, carbon credit sales, and revenue sharing with its partners. Biochar Industrial Group also provides waste value assessments and partnership programs for eligible agricultural processors.
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Beta Capital
VC Fund · Porto, Lisboa, Portugal · 2 investments in Portugal Health Care startups

We support innovative tech ventures to unlock its potential by providing smart funding and hands-on advisory.

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Venture - Series Unknown
  • Geography: Portugal, Spain, Brazil

Investor stats

  • Total investments: 17
  • Round size: Seed $476k–$3.1M
  • Lead/follow: 6% lead, 94% follow

Portfolio highlights

  • Zen8 — Explore Connected Swim Training at zwim.com. Smart Swim Trainer + data + immersive game = real swim power. Train at home, get faster in the water. Join the waitlist now.
  • 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.
  • PFx Biotech — PFx Biotech transforms food through bioinnovation by creating sustainable and nutritional alternative protein solutions.
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Brighteye Ventures
VC Fund · Paris, Ile-de-France, France · 2 investments in Portugal Health Care startups

Brighteye Ventures is the first and largest vertical EdTech Venture Capital firm in Europe. If you are an entrepreneur using technology to reinvent learning and education, we want to hear from you!

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Investment focus

  • Industry: Education, Software, E-Learning
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United Kingdom, France, Spain

Investor stats

  • Total investments: 64
  • Round size: Seed $1.5M–$7.5M; Pre-Seed $541k–$2.2M; Series A $3.5M–$20M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: May invest from a new fund soon — raised $117M in 2020

Portfolio highlights

  • Coachbetter — Football drills for kids, youth and pro teams in one platform. Coachbetter is your digital assistant coach. Manage football trainings, matches, teams and your club.
  • sherpa — AI Operating System for External Workforce Management
  • NEX Health Intelligence — Intelligent software systems for infection prevention and control. We provide hospitals with everything they need to track, manage, and prevent infections all in one place.
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MSM
VC Fund · Lisbon, Lisboa, Portugal · 2 investments in Portugal Health Care startups

MSM is a 45M€ early-stage impact VC fund. We invest in brave founders solving the world’s biggest social and environmental challenges.

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Investment focus

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

Investor stats

  • Total investments: 57
  • Round size: Seed $1.3M–$4.8M; Pre-Seed $244k–$3M; Series A $4.1M–$52M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Biorce — Meet the world's first AI clinical trials assistant! We bring innovative technologies to revolutionize healthcare and drug development faster & more efficiently
  • Pollen — Electric mobility for lightweight vehicles is about to get simpler, more affordable and more reliable.
  • Win-Win — We're WNWN Food Labs and we love food. We're creating delicious, sustainable and ethical alternatives to unsustainable and ethically dubious foods. We're starting with cacao-free chocolate. Changing chocolate? It's Win-Win #alt-chocolate #altchocolate #alt-universe #altuniverse #alt-protein
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AngelsWay
VC Fund · 2 investments in Portugal Health Care startups

AngelsWay invests in early-stage startups based in Portugal. The company focuses on ventures that utilize technology to create a positive societal impact. AngelsWay aims to support and develop the Portuguese entrepreneurial ecosystem by building a community that brings value to all participants.

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Investment focus

  • Industry: E-Commerce, Health Care, Artificial Intelligence
  • Stage:Seed
  • Geography: Portugal

Investor stats

  • Total investments: 7
  • Round size: Seed $57k–$704k
  • Lead/follow: 71% lead, 29% follow

Portfolio highlights

  • Curiouz — Curiouz is a tech-enabled platform dedicated to source, authenticate and deliver iconic vintage furniture pieces for interior designers, collectors, and design lovers. We bring together a unique selection of items combining sustainability, craftsmanship, and technology. Discover unique items that elevate interiors.
  • Coalex.ai — AI governance platform with human-in-the-loop to make deployments auditable, compliant, and self-improving. Book a demo.
  • Hands On — Discover hands on workshops in Portugal! From cooking and crafts to music and photography, explore unique classes with talented local teachers.
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Ideias Glaciares
Angel · Ermezinde, Porto, Portugal · 2 investments in Portugal Health Care startups

Ideias Glaciares

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Investment focus

  • Industry: Wellness, Content Delivery Network, Application Performance Management
  • Stage:Pre-Seed, Seed
  • Geography: Portugal, United States

Investor stats

  • Total investments: 7
  • Round size: Seed $250k–$1.5M; Pre-Seed $168k–$1.3M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Replai — Founded in 2019, Replai is the world’s first video-based creative insights platform that empowers brands to maximize the performance and engagement of their videos. Blending computer vision and AI technology, Replai has solved a long-standing problem that helps brands recalibrate their videos so they can maximize growth and build communities.Replai partners with some of the biggest global brands and mobile apps companies. Based in San Francisco, Replai is a privately-held, venture-backed company, with offices in London and Porto.
  • 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.
  • MIGHTY — MIGHTY is a maker of healthy food fridges for the workplace. Their healthy food fridges use a software platform that organizes and coordinates logistics with local storage and distribution partners.
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GED Ventures Portugal
VC Fund · Lisboa, Lisboa, Portugal · 2 investments in Portugal Health Care startups

GED Ventures Portugal is an Investment firm.

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Portugal, France, Germany

Investor stats

  • Total investments: 17
  • Round size: Seed $1.5M–$3.3M; Venture - Series Unknown $12M–$38M
  • Lead/follow: 65% lead, 35% follow

Portfolio highlights

  • Rofim — Rofim provides a multidisciplinary platform that combines practitioners' knowledge, technology for analyses, and medical imaging to provide a diagnosis. In order to share knowledge and provide the most accurate and timely diagnosis possible, Rofim concentrates on all the functionalities created for fluid medical use. The company is dedicatedto making the daily lives of physicians, patients, and medical institutions easier, more moral, and more seamless.
  • Hoopers — Global basketball community platform connecting players, fans and enthusiasts through products, contents, experiences and NFTs.
  • Hope Care Health — Hope Care is a digital health company that combines services, products, and cutting-edge technology platforms to enable the delivery of Social and Health Care without barriers.
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OW Ventures
VC Fund · Lisbon, Lisboa, Portugal · 2 investments in Portugal Health Care startups

OW Ventures is an investment group and an fund manager

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Investment focus

  • Industry: Software, Health Care, B2B
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $58k–$58k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Smashpro — Smashpro is a sports tech company that offers a digital marketplace and booking ecosystem for racket and field sports like padel, pickleball, and football.
  • upspeech — UpSpeech provides a software-as-a-service platform for speech-language pathologists and people receiving stuttering therapy. The platform analyzes uploaded speech recordings, detects and annotates disfluencies, and generates transcriptions and AI-assisted clinical reports. It also supports therapist-patient collaboration through exerciseassignments, practice recordings, feedback, and progress tracking. Organizations receive separate tenant environments with role-based access for therapists, patients, and administrators.
  • Intuitivo — Intuitivo handles the repetitive part. Teachers focus on what matters: teaching.
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SOSV
VC Fund · Princeton, New Jersey, United States · 2 investments in Portugal Health Care startups, 75 in the past 12 months

SOSV is a global, deep tech venture capital firm that operates the HAX and IndieBio startup development programs focused on human and planetary health. SOSV invests $500,000 in startups at their inception as they onboard either HAX or IndieBio for a 4-6 month period designed to accelerate the raise of their next institutional round. SOSV joins thelater rounds of HAX and IndieBio graduates. HAX, based in a 35,000 sq ft facility in Newark, NJ, is equipped with machine tools, 3D printers, chemical, electrical and mechanical engineering labs, as well as on-staff engineering and design experts. SOSV's IndieBio has locations in NYC and San Francisco, both of which offer extensive services and facilities to founders including on-site BSL-2 labs, well equipped lab benches and hoods, and advanced lab equipment, such as chromatography equipment.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 1482
  • Lead/follow: no public data

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.
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Nuno Sebastiao
Angel · San Francisco, California, United States · 1 investments in Portugal Health Care startups

Prior to starting Feedzai, Nuno was an engineer for the European Space Agency, and worked closely with several successful technology startups.In 2011, Nuno, along with his fellow co-founders Paulo Marques and Pedro Bizarro, established Feedzai to fight financial fraud with advanced machine learning technology.Fast forward to today, Nuno hasbeen named the Entrepreneur of the Year by London Business School, shared a stage with tech leaders such as Stephen Hawking and Steve Wozniak, and has been the driving force of Feedzai’s global growth.Under Nuno’s leadership, Feedzai has raised more than $282 million in venture funding, surpassed 500 employees, and continues to keep commerce safe for many of the leading banks, retailers, and payment processors around the globe.Nuno has an MBA from the London Business School.

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Investment focus

  • Industry: FinTech, Banking, Finance
  • Stage:Seed, Series A
  • Geography: United States, Spain, Portugal

Investor stats

  • Total investments: 4
  • Lead/follow: no public data

Portfolio highlights

  • Synctera — Making it easier for community banks and FinTechs to find their perfect match and work together. Welcome to the new FinTech frontier.
  • Coverflex — Coverflex is on a mission to improve the way companies compensate their people, making it more transparent, flexible and easier for everyone to make the most of what they get. Through a fully digital solution, Coverflex helps companies manage every part of compensation beyond salary — benefits, insurance, meal allowance and exclusive discounts —while empowering people to spend on what suits them best.
  • Dragonboat — Dragonboat helps product leaders and their teams deliver customer delight and drive business outcomes. With Dragonboat, product teams have an integrated platform to connect OKRs with initiatives, plan data-driven roadmaps, automate portfolio reporting and deliver with confidence. Ready to get rowing? Join us - Dragonboat.io
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Pankaj Chaddah
Angel · Gurgaon, Haryana, India · 1 investments in Portugal Health Care startups

Pankaj Chaddah is the Co-Founder of Shyft. Pankaj graduated with a degree in mechanical engineering from IIT Delhi in 2007.

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Investment focus

  • Industry: E-Commerce, Fitness, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: India, France, Portugal

Investor stats

  • Total investments: 18
  • Lead/follow: no public data

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.
  • Yoho — Yoho manufactures orthopaedic lightweight footwear.
  • Clean Electric — Clean Electric builds Lithium-Ion Batteries with Liquid Immersion Cooling. Fast Charge. Long Life. Unparalleled Safety.
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200M
VC Fund · Porto, Lisboa, Portugal · 1 investments in Portugal Health Care startups

200M is a Portuguese public fund of 200 million euros designed to co-invest with the best VCs from around the world in startups which are growing their business out of Portugal.

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Investment focus

  • Industry: Health Care, Artificial Intelligence, Therapeutics
  • Stage:Seed, Series A
  • Geography: Portugal, Brazil, France

Investor stats

  • Total investments: 7
  • Lead/follow: no public data

Portfolio highlights

  • Sensei — We are the leading European provider of autonomous stores, with an AI-powered solution to build efficient operations and deliver a seamless shopping experience.
  • Coverflex — Coverflex is on a mission to improve the way companies compensate their people, making it more transparent, flexible and easier for everyone to make the most of what they get. Through a fully digital solution, Coverflex helps companies manage every part of compensation beyond salary — benefits, insurance, meal allowance and exclusive discounts —while empowering people to spend on what suits them best.
  • Sound Particles — A CGI-like software for Sound Design, capable of using particle systems to generate thousands of sounds in a virtual 3D world
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Draper Startup House Ventures
VC Fund · San Mateo, California, United States · 1 investments in Portugal Health Care startups

Ventures | Draper Startup House

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Investment focus

  • Industry: Software, FinTech, Analytics
  • Stage:Pre-Seed, Seed
  • Geography: United States, Singapore, Australia

Investor stats

  • Total investments: 28
  • Round size: Seed $875k–$4.3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Manolin — Manolin is the leading aquaculture management platform to accelerate data insights and aquaculture intelligence for global fish farms and suppliers.
  • Giftpack — Built for marketers, sales, HR, and customer teams to drive retention, loyalty, and growth at scale with AI.
  • PharmInt — A fully integrated B2B Pharmaceutical Products MarketplaceAt Pharmint, we bring together everything that’s required to procure pharma products globally under one roof. We help suppliers get discovered, negotiate prices, and seal the trade terms whereas we help our buyers by vetting all documentation and holding their payments in escrow till theirshipments are delivered and verified.A technology first approach to solving counter-party risk Experience true peace of mind as a buyer as we do the heavy lifting for you. Get access to thousands of verified sellers from across the world while our trade and escrow services ensure that your purchases are protected.Get the best prices & selection of products Our vast network of over 500 verified and onboarded suppliers with a catalogue of over 10,000 products ensures we serve all buyer needs across various MOQ and pricing banHow it works:From product discovery to product deliveryWe assist you in discovering new products, matching with potential qualified manufacturers, and making the deals happen.1. Discover new productsSearch for the high-potential products in the largest human-curated CTD database. Narrow your search applying the industry-specific filter that helps sort products by GMP approvals, country of origin, dossier type, dossier status, stability, and other valuable features.2. Get offers from manufacturers3. Connect with qualified manufacturers directlyThe largest database Simplify product discovery, reduce business development effort and costs with access to an expert curated up-to-date CTD dossier database.Direct supplier relations We enjoy direct working relations with platform manufacturers. We’ll provide the best conditions to negotiate your deal details and use our authority to make the deal happen.Vetted products We match customers only with qualified manufacturers. Our marketplace features only vetted products with up-to-date regulatory data.Industry expertise Pharmint is backed by in-depth understanding of the pharmaceutical market by its founders and associates and a strong track-record in the pharmaceutical industry.Commercial guidance We assist our customers in preparing the deal structure, evaluate annual forecasts and pricing, regulatory requirements and cover other aspects in bringing new products to market.Self-service 24/7 Buyers can search for products, make multiple RFQs, receive commercial offers, negotiate deals and build their pipeline. Sellers can manage an unlimited number of products and indicate market availability at any time.
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Deepinder Goyal
Angel · New Delhi, Delhi, India · 1 investments in Portugal Health Care startups

Deepinder Goyal, Founder & CEO, Zomato, is the Founder and CEO of Zomato. Prior to starting Zomato, Deepinder worked as a management consultant with Bain and Company in New Delhi. It was at Bain that Deepinder conceived the idea of an online restaurant information service after seeing the demand for menu cards among his colleagues. He left Bainin 2008 to start Zomato (then foodiebay) out of his apartment and has since overseen strategy and product development. Deepinder graduated with a Mathematics and Computing degree from IIT Delhi in 2005 and hails from Muktsar in Punjab.

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Investment focus

  • Industry: Health Care, E-Commerce, Wellness
  • Stage:Seed, Series B, Pre-Seed
  • Geography: India, United States, Portugal

Investor stats

  • Total investments: 29
  • Lead/follow: no public data

Portfolio highlights

  • Vayudh — Vayudh's aim is to create next-generation nanodrones and swarming technologies for modern defense and security applications.
  • LAT Aerospace — Pushing the limits of aerospace engineering in speed, innovation, and accessibility.
  • Sparkl Edventure — Sparkl Edventure is a platform that tailors one-on-one tutoring for students navigating the international waters of IB and Cambridge curricula.
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CTT
VC Fund · Lisboa, Lisboa, Portugal · 1 investments in Portugal Health Care startups

CTT is principally engaged in the provision of courier services.

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Investment focus

  • Industry: Virtual Assistant, Assistive Technology, Artificial Intelligence
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • NeuralShift — NeuralShift is an early-stage AI startup that assists lawyers by incorporating AI into daily processes.NeuralShift solution, Affine, is intended to assist lawyers in finding and cross-referencing the most essential material for everyday work.
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Green Innovations
VC Fund · 1 investments in Portugal Health Care startups

International, Life Sciences, Biotechnology

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Investment focus

  • Industry: Pet, Medical, Genetics
  • Stage:Seed, Series A
  • Geography: Portugal, United States

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Findster — Findster is a pet tech company that provides peace of mind to pet owners by helping them keep track of their pet's location and well-being 24/7. In 2016, Findster introduced the first GPS tracker to allow true real-time monitoring and to not require monthly fees - Findster Duo - via a $250k Kickstarter campaign. The company has sincebecome one of the fastest growing pet tech companies in the world, with the Duo currently being the #1 Best Seller in its category on Amazon.com and used in over 80 countries on a daily basis.At the core of Findster is Maze®, a proprietary technology platform that allows IoT systems to communicate in real-time, off-grid, in a long-range without being dependent on the cellular infrastructure from Telcos.
  • CBR Genomics — We apply our end-to-end solutions to hand genetic reports at the clinical desk. We make Genomics accessible!
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Boehringer Ingelheim Venture Fund
VC Fund · Ingelheim Am Rhein, Rheinland-Pfalz, Germany · 1 investments in Portugal Health Care startups, 7 in the past 12 months

Discover Boehringer Ingelheim Venture Fund. We invest in groundbreaking science to transform care. Explore our mission and join us in advancing medicine

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Seed
  • Geography: United States, Germany, Switzerland

Investor stats

  • Total investments: 108
  • Round size: Seed $1.8M–$20M; Series A $3.8M–$34M; Series B $11M–$50M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: May invest from a new fund soon — raised $250M in 2018

Portfolio highlights

  • Tacalyx — Tacalyx develops therapeutics targeting cancer-specific carbohydrate antigens on the surface of metastatic malignant tumors where no satisfactory treatments exist.The name Tacalyx is derived from TACA (Tumor Associated Carbohydrate Antigen) and ‘lyx’ from the term Glycocalyx, the glycan-containing layer covering cells. Cancer cells differ fromnormal cells by displaying aberrant carbohydrate structures on their surfaces promoting metastasis, angiogenesis or suppression of the immune system. TACAs result from the aberrant glycosylation that is seen with transformation to a tumor cell and represent attractive targets for cancer treatment since they are displayed with high cancer specificity and enhance tumor virulence via the mentioned diverse mechanisms.
  • smartbax — We develop novel multi-targeted, antibacterial compounds with extraordinary potency against multi-drug resistant bacteria and difficult-to-treat biofilms.
  • Cloverleaf Bio — Cloverleaf Bio | Developing a new class of RNA therapeutics to revolutionize cancer therapy.
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Scott MacMillan
Angel · Toronto, Ontario, Canada · 1 investments in Portugal Health Care startups

Scott MacMillan

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Investment focus

  • Industry: Apps, Fitness, Big Data
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Virtuleap — Virtuleap combines neuroscience and virtual reality to help increase attention levels, and address cognitive illnesses, disorders, and learning challenges. We have created a library of VR games designed by neuroscientists in order to test and train a range of cognitive abilities and make that data accessible through our enterprise platform. Ourfirst paid client is the AARP, and we are now working with leading institutions, like the VA Health Care System and the Pacific Brain Health Center, to validate our solution as an effective diagnostic and treatment for attention deficit and cognitive decline.
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Pathena
VC Fund · Porto, Lisboa, Portugal · 1 investments in Portugal Health Care startups

Pathena is an investment firm engaged on boosting the success of information technology and digital biomedical companies.

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Investment focus

  • Industry: Health Care, Artificial Intelligence, B2B
  • Stage:Seed, Series A, Series C
  • Geography: Portugal, Finland, Germany

Investor stats

  • Total investments: 15
  • Round size: Seed $1.5M–$3.7M; Series A $2.7M–$30M; Series C $39M–$39M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: May invest from a new fund soon — raised $74M in 2013

Portfolio highlights

  • Promptly — Health Analytics Patient Report Outcomes, Health Care, Value based health
  • Healthplus.ai — Healthplus.ai enables surgical care professionals to be more proactive towardcs patients, care and outcome; predicting infections before they are normally diagnosed.
  • NVision Quantum Technologies — NVision Imaging Technologies is leveraging advances in quantum physics to enable the first routine, convenient and affordable use of Magnetic Resonance Imaging (MRI) for assessing early patient response to cancer treatment at the metabolic level.
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Casa Verde Capital
VC Fund · Los Angeles, California, United States · 1 investments in Portugal Health Care startups

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.

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Investment focus

  • Industry: Cannabis, Software, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 50
  • Round size: Seed $2M–$7M; Series A $3.5M–$15M; Series B $15M–$38M
  • Lead/follow: 62% lead, 38% follow
  • Last fund: May invest from a new fund soon — raised $100M in 2020

Portfolio highlights

  • Growlink — Growlink offers advanced software and hardware solutions to streamline your grow operations. Automate climate, irrigation, and nutrient delivery while gaining valuable insights to boost yields, reduce waste, and ensure consistent quality. Discover how our tools can transform your cultivation process.
  • Mamedica — MAMEDICA is a private clinic with a pharmacy attached that specializes in prescribing cannabis-based drugs to patients whose current meds have not produced sufficient outcomes for their ailments.
  • Frontier Risk — Frontier Risk is the first tech-enabled insurance brokerage for the cannabis sector, led by former executives from leading cannabis companies.
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Social Impact Fund
VC Fund · Los Angeles, California, United States · 1 investments in Portugal Health Care startups

SIF provides financial support for public charities & acts as a fiscal agent for charities and foundations.

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Investment focus

  • Industry: Software, Education, Apps
  • Stage:Debt Financing, Seed
  • Geography: Spain, Portugal, United States

Investor stats

  • Total investments: 6
  • Round size: Seed $995k–$2.5M; Debt Financing $1.4M–$5.7M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Irisbond — Irisbond creates a new way for humans to communicate through precision eye-tracking technology. Irisbond’s advanced software algorithms interpret your eye gaze in order to provide natural, intuitive and hands-free access to information and control over a screen. Developed for use in mobile devices, automotive, smart homes, robotics, scientific,healthcare and manufacturing, eye tracking technology lets you learn, play, work and communicate with your eyes. A pioneer in the assistive technology market, Irisbond’s eye tracking solutions are based on years of R&D in cooperation with Vicomtech, a leader in the field of artificial vision. For more information about the power of the eyes, go to www.irisbond.com/en
  • tuTECHÔ — tuTECHÔ is an innovative social enterprise born with the purpose of contributing to the eradication of homelessness in Spain.
  • Suara Cooperativa — Suara Cooperativa is a non-profit organization that provides education to children and youth and elder care services.
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HTGF (High-Tech Gruenderfonds)
VC Fund · Bonn, Nordrhein-Westfalen, Germany · 1 investments in Portugal Health Care startups

High-Tech Grunderfonds finances startups with growth potential. Its team of investment managers supports young companies with expertise, entrepreneurial spirit, and passion. The company focuses in the fields of digital tech, industrial tech, life sciences, chemistry, and related business areas. It also focuses on financial services in varioussectors.

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Investment focus

  • Industry: Software, Biotechnology, Information Technology
  • Stage:Seed, Series A
  • Geography: Germany, Switzerland, United States

Investor stats

  • Total investments: 739
  • Round size: Seed $850k–$7M; Series A $3.1M–$31M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $515M in 2022

Portfolio highlights

  • Zimory — Founded in 2007, Zimory provides carrier-grade cloud infrastructure management software that allows service providers, enterprises and cloud brokers to fully leverage the power and elasticity of cloud computing. Zimory’s intelligent Cloud Suite simplifies, automates and expedites the creation, launch and management of all types of cloudenvironments – whether public, private, virtual private or hybrid. Zimory software is also a key enabler of cloud marketplaces for enterprise services, applications and infrastructure. Headquartered in Berlin, Zimory has development centers in Erfurt, Germany and Minsk, Belarus, a subsidiary office in New York City and is expanding its expertise and presence globally.
  • Alteva — Alteva develops battery cells for the decarbonisation of the global transport sector, and focus on high-energy density battery cells with high safety profiles specifically designed for the aviation and heavy-duty transport sectors.
  • Smartblue — Smartblue develops and runs software and processes to monitor and optimize zero emission energy systems. As a hardware independent specialist Smartblue delivers a software service for the maintenance, life-cycle management, production forecasting and remote control of photovoltaic and energy storage systems all together in one centralized “SmartControl” Operations and Control Center web application. We help our customers drive down overall operational cost through automation, smart failure detection and big data analysis on imminent defects.
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StartUp Health
VC Fund · New York, New York, United States · 1 investments in Portugal Health Care startups

Organizing and investing in a global army of entrepreneurs committed to achieving health moonshots

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Investment focus

  • Industry: Health Care, Wellness, Medical
  • Stage:Seed, Pre-Seed
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 335
  • Round size: Seed $100k–$4M; Pre-Seed $20k–$854k
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — raised $31M in 2018

Portfolio highlights

  • AvoMD — AvoMD is reimagining clinical decision support with interactive point-of-care software, available standalone and via EHR integrations, and seamless content building tools.
  • Hidoc Consult — Hidoc Consult: Boost your well-being with free consultations, 24/7 access to quality healthcare, complete privacy, user-friendly, and a trusted network of HCPs
  • 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.
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Boost VC
VC Fund · San Mateo, California, United States · 1 investments in Portugal Health Care startups, 20 in the past 12 months

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.

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Investment focus

  • Industry: Software, Artificial Intelligence, Virtual Reality
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 408
  • Round size: Seed $217k–$6.1M; Pre-Seed $100k–$2.6M; Venture - Series Unknown $620k–$8.9M
  • Lead/follow: 15% lead, 85% follow
  • Last fund: Likely actively investing — fresh fund, raised $88M in 2025

Portfolio highlights

  • Claryx — The hospital immune system. Claryx detects each infection, traces how it's spreading, recommends a response, and confirms that it's gone.
  • SkinBit — SkinBit is a healthtech company that develops AI-powered skin cancer detection, digital mapping, and health monitoring solutions.
  • Elita — Store your dog's stem cells with Elita. One-time opportunity to protect their future health and avoid costly surgeries later in life.
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Jeremy Hendon
Angel · 1 investments in Portugal Health Care startups

Jeremy Hendon

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Investment focus

  • Industry: Apps, Fitness, Big Data
  • Stage:Pre-Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Virtuleap — Virtuleap combines neuroscience and virtual reality to help increase attention levels, and address cognitive illnesses, disorders, and learning challenges. We have created a library of VR games designed by neuroscientists in order to test and train a range of cognitive abilities and make that data accessible through our enterprise platform. Ourfirst paid client is the AARP, and we are now working with leading institutions, like the VA Health Care System and the Pacific Brain Health Center, to validate our solution as an effective diagnostic and treatment for attention deficit and cognitive decline.
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ChangePartners
VC Fund · Porto, Lisboa, Portugal · 1 investments in Portugal Health Care startups

ChangePartners is an independent company dedicated to mid-size transactions in the Iberian market. They develop high value added solutions specific to each particular situation , offering a fair and unbiased opinion. Their independence guarantees no conflicts of interest. Their small size and focus ensures full dedication to each transaction.

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Investment focus

  • Industry: Medical, Therapeutics, Biotechnology
  • Stage:Seed
  • Geography: Portugal

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Exogenus Therapeutics — Exogenus Therapeutics is engineering cell biology for innovative therapeutic solutions.Exo-T is a biotechnology company dedicated to the pre-clinical and clinical development of innovative cellular-based therapies applied to regenerative medicine, specifically for the skin lesions treatment. The company is presently developing its first product,Exo-Wound, for the treatment of chronic wounds.The project that led to the creation of the company (Nanoinspire) participated in COHiTEC 2014 program and is the result of the research developed in collaboration with Crioestaminal SA, Biocant, and Centre for Neurosciences and Cellular Biology of Coimbra University.
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Health Care Investor funding in Portugal at a glance

Stats across 277 deals from 177 investors.

177
investors
in Portugal Health Care startups
277
deals
in Portugal Health Care startups
$270k
median round
in Portugal Health Care startups
41%
lead investors
lead at least one round
34%
Seed
most common funding stage
88/12
VC / Angel
share of investor count

Access all 177 investors in Portugal Health Care startups.

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