# Top 25 Energy Startup Investors in Portugal in May 2026

## Portugal Ventures
- Type: VC Fund
- Location: Porto, Lisboa, Portugal
- Relevant deals: 10
- Stages: Seed, Pre-Seed
- Focus: Software, Health Care, Information Technology

Portugal Ventures is a venture capital firm that is part of the Banco Português de Fomento group, currently manages 170 million euros and has more than 130 portfolio companies. It invests in startups in the pre-seed, seed and series A stages that offer innovative solutions for the international market in the digital, engineering&industry, lifesciences, and tourism sectors. Since 2012, Portugal ventures has invested 164 million euros in 147 new businesses.

## Caixa Capital
- Type: VC Fund
- Location: Lisboa, Lisboa, Portugal
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Software, Information Technology, Health Care

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.

## HCapital Partners
- Type: VC Fund
- Location: Lisbon, Lisboa, Portugal
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Information Technology, Software, SaaS

We are an independent private equity firm, investing in a broad spectrum of companies through dedicated funds.

## MSM
- Type: VC Fund
- Location: Lisbon, Lisboa, Portugal
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Information Technology, Software, B2B

MSM is an early-stage generalist impact fund that invests all across Europe.

## 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.

## FORWARD.one
- Type: VC Fund
- Location: Amstelveen, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Semiconductor, Information Technology, Audio

We are a leading non-profit establishing new relationships between agriculture and nature. Protecting the natural world and treasured wildlife.

## Armilar Venture Partners
- Type: VC Fund
- Location: Lisboa, Lisboa, Portugal
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Software, Information Technology, Manufacturing

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.

## Wayra
- Type: VC Fund
- Location: Madrid, Madrid, Spain
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, Information Technology, SaaS

Wayra is a globally connected and technological open innovation hub in the world. We currently operate in 10 countries: Argentina, Brazil, Chile, Colombia, Germany, Mexico, Peru, Spain, the United Kingdom, and Venezuela.Through Telefónica our global presence allows us to be at the helm of innovation, shoulder to shoulder with drivenentrepreneurs and in a position to engage the right partners and leaders of industries for business. Our mission is clear, to connect innovators with Telefónica and generate joint business opportunities. We are the interface between Telefónica and entrepreneurial ecosystems across the globe because innovation makes good business sense.

## Ganexa Capital
- Type: VC Fund
- Location: Lisbon, Lisboa, Portugal
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Health Care, Fitness, Wellness

Ability to open doors on opportunities (potential clients/strategic partners/suppliers/etc). Add market credibility, something missing in many start-ups.Know-how that can save you time, money and unnecessary stress and worry. Ability to complement the existing management team, filling gapsThey understand the difficulties andhardships of starting and building a business. They are motivated to work with you on the building process, and not just wait for the end result

## SHIFT Invest
- Type: VC Fund
- Location: Amstelveen, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Biotechnology, Manufacturing, Information Technology

SHIFT Invest is a Dutch venture capital fund that invests in early stage environmental impact startups

## InterCapital
- Type: VC Fund
- Location: Lisbon, Lisboa, Portugal
- Relevant deals: 1
- Stages: Seed
- Focus: SaaS, Human Resources, Biofuel

InterCapital is an investment firm focused on early-stage ventures. InterCapital cooperates with outstanding Entrepreneurs, promoting innovative ideas and business models, leading to positive social and environmental impact.

## Marc de Jong
- Type: Angel
- Location: Amsterdam, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Seed
- Focus: Sensor, Software, Wind Energy

Marc de Jong has had an extremely successful career with Phillips where he was previously a member of the Royal Philips Group Management Committee. He was CEO of various divisions within Philips and CEO of the automotive and identification businesses of NXP Semiconductors before beginning his own management consultancy. Marc de Jong holds aMasters in Physics and Mathematics from the Free University of Amsterdam, further qualifications in Economics and two MBA’s, one from the University of Rochester in the United States and another from the Erasmus University, Rotterdam.

## Acumen
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Financial Services, Health Care, Agriculture

Acumen is a nonprofit venture fund that invests in early-stage companies bringing critical services like agriculture, clean energy, education, financial inclusion, healthcare and workforce development to low-income communities in 14 countries across East and West Africa, South Asia, Latin America, and the United States. Since 2001, Acumeninvested $128 million in 128 companies that have transformed the lives of over 308 million low-income people.

## Critical Software
- Type: VC Fund
- Location: Coimbra, Coimbra, Portugal
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: FinTech, CleanTech, Crowdfunding

With a heritage in safety critical software development, testing and verification & validation, we provide technology you can trust.

## Future Energy Ventures
- Type: VC Fund
- Location: Essen, Nordrhein-Westfalen, Germany
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Information Technology, Artificial Intelligence

Future Energy Ventures is a unique venture capital fund that brings together corporate partners and world-class start-ups to shape the future energy landscape. Future Energy Ventures invests in digital and digitally enabled technologies and business models that have the potential to redefine the future energy landscape.From its operational hubsin Germany, Israel and Silicon Valley, Future Energy Ventures looks for both investments and scaling opportunities for its portfolio globally and new investment opportunities.Future Energy Ventures is the venture capital investment and collaboration platform of E.ON, one of Europe’s largest operators of energy networks and energy-related infrastructure.

## Verdane
- Type: VC Fund
- Location: Oslo, Oslo, Norway
- Relevant deals: 1
- Stages: Private Equity, Series A
- Focus: E-Commerce, Software, Information Technology

The preferred growth partner to tech-enabled businesses in Northern Europe.

## Teak Capital
- Type: VC Fund
- Location: Kuala Lumpur, Kuala Lumpur, Malaysia
- Relevant deals: 1
- Stages: Seed, Series D
- Focus: Biofuel, Wearables, Biotechnology

Teak Capital is a venture capital management firm based in Malaysia. The company believes in empowering entrepreneurs to think big and at the same time mastering the essential building blocks of managing a business from practicing right governance, holistic understanding of company financials, and seeking opportunities for the business.Teak lendsits expertise and advice in corporate matters and add value by giving new perspective to entrepreneurs in developing and strategizing for their business growth.

## Gorilla Capital
- Type: VC Fund
- Relevant deals: 1
- Stages: Pre-Seed, Seed, Series A
- Focus: Software, Information Technology, SaaS

Gorilla Capital is a Finnish venture capital fund investing in early stage companies that apply technology to solve real business problems of today.

## 200M
- Type: VC Fund
- Location: Porto, Lisboa, Portugal
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Health Care, Internet, Software

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.

## Techstars Autonomous Technology
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Pre-Seed

## Egis
- Type: VC Fund
- Location: Saint-quentin, Rhone-Alpes, France
- Relevant deals: 1
- Stages: Series A
- Focus: Energy, Renewable Energy, Natural Resources

Egis is an international engineering, assembly and project management group. In engineering and consulting, he works in the fields of transport, city, building, industry, water, environment and energy.

## Betwixt Ventures
- Type: VC Fund
- Location: Porto, Lisboa, Portugal
- Relevant deals: 1
- Stages: Seed
- Focus: Drones, Energy, Mobile

Betwixt Ventures focuses on bringing together startups with Venture Capital Investors.By raising a pledge fund exclusively targeting investments on early stage startups with high potential, Betwixt Ventures proposes to add value through the following main activities:•	Origination, screening, negotiation of deal terms, and monitoring of vettedstartups•	Startup follow up, mentoring, consulting and value creation•	Attraction of venture capital funds and placement of further investment rounds•	Attraction of exit opportunities and facilitation of exit processStarting its capital raise in October 2015, the pledge fund will exclusively target investments on early stage startups typically based out of Portugal. At a second stage, it intends to invest also in Spanish and Italian startups. While no particular industry will be ruled out from the investment scope, the pledge fund will tend to focus on the broad technology and energy sectors. As a pre-requisite, it will either invest in startups previously vetted by other Business Angels, or co-invest in them with other seed or venture capital funds as partners. The focus of the pledge fund will be to invest in the gap between seed and series A rounds. Upon the investment at this stage, Betwixt Ventures will seek to attract further institutional investment rounds, internationally.On top of the pledge fund management, Betwixt Ventures will also offer both financial and general advisory services to startups. The former include either the attraction of venture capital funds for placement of further investment rounds, or the attraction of strategic buyers for potential M&A transactions, mainly in the US market. The later encompass 360 degrees consulting to startups, from marketing & sales, to business development and management.

## EDP Ventures
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: SaaS, Energy, Internet

EDP Ventures is a venture capital investment firm.

## Carlos Oliveira
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Sensor, Software, Wind Energy

Carlos Oliveira

## Rock International Group
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: Energy, Machine Learning, Artificial Intelligence

Rock International Group is a venture capital investment firm.

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