Top 5 Fitness VC Funds & Investors in Portugal (May 2026)
For AI agents: Short investor table (Markdown), Detailed investor list (Markdown)
| Investor | Relevant Deals | Geography | Stage | Focus | Round Size |
|---|---|---|---|---|---|
|
TrulyMad
VC Fund
|
2 | Portugal | Pre-Seed | Beauty, Fitness, Wellness | $550k–$560k |
|
Olisipo Way
VC Fund
|
2 | Portugal | Pre-Seed, Seed, Convertible Note | Software, SaaS, Communities | $161k–$725k |
|
Portugal Ventures
VC Fund
|
2 | Portugal, United States, France | Seed, Pre-Seed | Software, Health Care, Information Technology | $107k–$1.6M |
|
Armilar Venture Partners
VC Fund
|
1 | Portugal, United States, United Kingdom | Series A, Seed | Software, Information Technology, Manufacturing | $482k–$12M |
|
StartUp Health
VC Fund
|
1 | United States, Canada, United Kingdom | Seed, Pre-Seed | Health Care, Wellness, Medical | $20k–$2.5M |
| Access all 16 VC funds in Portugal Fitness startups. | |||||
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TrulyMad Business Accelerator
Show more...Investment focus
- Industry: Beauty, Fitness, Wellness
- Stage:Pre-Seed
- Geography: Portugal
Investor stats
- Total investments: 2
- Round size: Pre-Seed $550k–$560k
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- sheerME — SheerME is Revolutionising the way people find, book, and pay for their Wellness and Beauty services powered by a benefit-based walletOur approach is based on Discovery, Transaction & Reward to create more online visibility, reach, conversion into new business, loyalty, and frequency through our wallet and cashback ecosystem, to all ourpartners in the beauty and wellness sectors.This made us a fresh and different option in this sector where there are mainly SaaS players, and we bring marketplace with no monthly fee, only a commission for business sent through our owned and partner channels.
Olisipo Way is an early-stage venture firm that focuses on IT investments. It invests in technology companies with very diverse and complementary skills. The initial portfolio of Olisipo Way comes from the innovation created within the Olisipo through the continuous stimulation of innovation among employees and the incubation of new businessventures.The firm was founded in 2015 and is headquartered in Lisbon, Lisboa.
Show more...Investment focus
- Industry: Software, SaaS, Communities
- Stage:Pre-Seed, Seed, Convertible Note
- Geography: Portugal
Investor stats
- Total investments: 9
- Round size: Pre-Seed $161k–$725k
- Lead/follow: 33% lead, 67% follow
Portfolio highlights
- Zharta — Zharta is a peer to pool protocol that enables its users to apply for real-time loans by using NFTs as collateral.
- 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.
- advertio — The customer acquisition platform that empowers your business to grow risk-free, where you only pay per results, not promises.
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.
Show more...Investment focus
- Industry: Software, Health Care, Information Technology
- Stage:Seed, Pre-Seed
- Geography: Portugal, United States, France
Investor stats
- Total investments: 159
- Round size: Seed $107k–$1.6M; Pre-Seed $107k–$643k
- Lead/follow: 6% lead, 94% follow
- Last fund: May invest from a new fund soon — last raise in 2018
Portfolio highlights
- HiJiffy — Increase direct bookings and upselling with HiJiffy's AI-powered communication solutions for hospitality.
- MyCareforce — The platform that connects nurses to available shifts.
- Floating Particle — Floating Particle is a technology and innovation company that drives an innovative solution for waste management and clean energy. Floating Particle specializes in IoT, Big Data and Machine Learning to provide cutting-edge technology to the customers.
Armilar Venture Partners is Portugal's leading venture capitalist. An independent VC with a 20-year-old history, a high-performance track record and an international footprint, Armilar is a deep-tech investor in ICT, HealthTech and CleanTech.
Show more...Investment focus
- Industry: Software, Information Technology, Manufacturing
- Stage:Series A, Seed
- Geography: Portugal, United States, United Kingdom
Investor stats
- Total investments: 80
- Round size: Seed $482k–$2.7M; Series A $3.8M–$12M
- Lead/follow: 41% lead, 59% follow
- Last fund: May invest from a new fund soon — last raise in 2019
Portfolio highlights
- 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.
- StudentFinance — Catapult your career with leading re-skilling and up-skilling bootcamps. Study now and pay us back once you land a job & start earning!
- Miles in the Sky — Embark on a journey with Miles to upgrade your learning experiences. Our unique model provides a better way to increase learner engagement and improve knowledge retention.
Organizing and investing in a global army of entrepreneurs committed to achieving health moonshots
Show more...Investment focus
- Industry: Health Care, Wellness, Medical
- Stage:Seed, Pre-Seed
- Geography: United States, Canada, United Kingdom
Investor stats
- Total investments: 140
- Round size: Seed $100k–$2.5M; Pre-Seed $20k–$800k
- Lead/follow: 4% lead, 96% 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.
- Medwise.ai — Medwise.ai is the Google for doctors.
- Pear Suite — Pear Suite enables anyone—community health workers, other healthcare staff, and volunteers—to assess and address the social drivers of health for older adults in a scalable, cost-effective, and person-centered way.
Fitness VC funding in Portugal at a glance
Stats across 11 deals from 16 investors.
Access all 16 VC funds in Portugal Fitness startups.
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