# Top 40 Health Care VC (Venture Capital) Funds in Portugal in May 2026 ## Portugal Ventures - Type: VC Fund - Location: Porto, Lisboa, Portugal - Relevant deals: 21 - 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: 7 - 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. ## Armilar Venture Partners - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 7 - 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. ## Shilling - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 5 - Stages: Seed, Pre-Seed, Series A - Focus: Internet, Information Technology, Software 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. ## Bynd Venture Capital - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 5 - Stages: Seed, Series A - Focus: Software, E-Commerce, Health Care Bynd Venture Capital, former Busy Angels, is a Portuguese venture capital investor with more than 30 active investments in the portfolio in different funds. At Bynd Venture Capital we invest in companies: - At the seed / early stage - In IT/Digital and Sustainability (including Lifesciences, Clean Tech, among others) sectors - FromPortugal, Spain and any startup that has a direct connection with these markets (founders, tech team, investors, ...). ## Demium Capital - Type: VC Fund - Location: Valencia, Comunidad Valenciana, Spain - Relevant deals: 4 - Stages: Pre-Seed, Seed, Series A - Focus: Software, Health Care, Information Technology 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 ## Olisipo Way - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 2 - Stages: Pre-Seed, Seed, Convertible Note - Focus: Software, SaaS, Communities 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. ## Critical Ventures - Type: VC Fund - Location: Coimbrã, Leiria, Portugal - Relevant deals: 2 - Stages: Seed, Series A - Focus: Medical, Computer, Genetics We invest in game-changing companies with the power to transform the way the world uses technology. ## TheVentureCity - Type: VC Fund - Location: Miami, Florida, United States - Relevant deals: 2 - Stages: Seed, Pre-Seed, Series A - Focus: Software, Artificial Intelligence, SaaS TheVentureCity is a global early stage venture fund, investing in product-centric startups across the US, Europe and Latam. We believe in founders who expect more from their VC. Our data-driven nature allows us to see beyond borders, knowing talent has no zip code. Which is why we have international hubs in Miami, Madrid, San Francisco and SaoPaulo. We create a steady current of resources, offering a combination of bespoke data insights and guidance from experienced operators. With product-led growth at our core.With more than $160M under management, we invest from pre-seed/seed with a ticket size from $100-300k to Series A with $1-4M. ## Vesalius Biocapital Partners - Type: VC Fund - Location: Strassen, Luxembourg, Luxembourg - Relevant deals: 2 - Stages: Series B, Series A, Series C - Focus: Biotechnology, Health Care, Medical 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. ## Breega - Type: VC Fund - Location: London, England, United Kingdom - Relevant deals: 2 - Stages: Seed, Series A - Focus: FinTech, Software, Financial Services 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. ## TrulyMad - Type: VC Fund - Relevant deals: 2 - Stages: Pre-Seed - Focus: Beauty, Fitness, Wellness TrulyMad Business Accelerator ## Social Impact Fund - Type: VC Fund - Relevant deals: 1 - Stages: Seed - Focus: Apps, Video, Medical SIF provides financial support for public charities & acts as a fiscal agent for charities and foundations. ## Green Innovations - Type: VC Fund - Relevant deals: 1 - Stages: Series A - Focus: Medical, Genetics, Health Care International, Life Sciences, Biotechnology ## Casa Verde Capital - Type: VC Fund - Location: Los Angeles, California, United States - Relevant deals: 1 - Stages: Seed, Series A, Series B - Focus: Cannabis, Health Care, Information Technology 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. ## Bionova Capital - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed - Focus: Biotechnology, Hospital, Health Care 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. ## 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 ## Big Start Ventures - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Convertible Note - Focus: FinTech, Financial Services, Information Technology BiG Start Ventures is an early-stage VC investing globally in B2B Fintech, Insurtech, Regtech and Cybersecurity. Onetier Partners, SCR, S.A. ## WISENEXT - Type: VC Fund - Location: Lisboa, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Software, Artificial Intelligence, Internet WiseNext is a venture and smart capital investment company. We focus on helping young entrepreneurs with innovative ideas that have an impact on our society, providing capital, knowledge and networking. ## Indico Capital Partners - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Series A, Series C - Focus: Information Technology, E-Commerce, B2B Indico Capital Partners is the leading independent Venture Capital firm in Portugal investing in global technology companies. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Seed to Series A level. Founded in 2017, the team at Indico werepreviously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs.Headed by the two most senior former Caixa Capital VC Team members, supported by a successful and experienced entrepreneur and a strong group of advisors, top entrepreneurs, they raised our first fund (authorized by the Portuguese Securities Market Commission - CMVM) from a cornerstone institutional investor (EIF) and international family/multi-family offices from Europe, US, and Australia. In addition to Silicon Valley, London, and Berlin, cities like Lisbon have emerging startup ecosystems. Portugal went through a difficult macro environment years ago which led to a growth in the entrepreneurship culture and investment. We have excellent tech graduates and a global mindset.Highly innovative companies like luxury eCommerce platform Farfetch, YC graduate machine learning translation platform Unbabel or the leading student accommodation marketplace Uniplaces have a strong Portuguese DNA and went to raise international rounds in the UK and the US - we want to back the next success stories of the ecosystem. ## Kiilto Ventures - Type: VC Fund - Location: Helsinki, Southern Finland, Finland - Relevant deals: 1 - Stages: Seed - Focus: Construction, CRM, Hospital Kiilto Ventures is a family-owned company. Kiilto invests strongly in growth and renewal, determined to keep on reinventing and challenging themselves beyond their present core business. ## StartUp Health - Type: VC Fund - Location: New York, New York, United States - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Health Care, Wellness, Medical Organizing and investing in a global army of entrepreneurs committed to achieving health moonshots ## LC Ventures - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series D - Focus: Information Technology, Artificial Intelligence, Internet of Things 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. ## MSM - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Information Technology, Software, B2B MSM is an early-stage generalist impact fund that invests all across Europe. ## EIT Health - Type: VC Fund - Location: Munich, Bayern, Germany - Relevant deals: 1 - Stages: Grant, Pre-Seed, Seed - Focus: Health Care, Medical Device, Medical EIT Health is a network of best-in-class health innovators backed by the EU. We deliver solutions to enable European citizens to live longer, healthier lives. ## High-Tech Grunderfonds - Type: VC Fund - Location: Bonn, Nordrhein-Westfalen, Germany - Relevant deals: 1 - Stages: Seed, Series A - Focus: Software, Information Technology, Biotechnology High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 500 startups since 2005. Driven by their expertise, entrepreneurial spirit, and passion, its teamof experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry, and life sciences.To date, external investors have injected over EUR 2 billion into the HTGF portfolio via about 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG. ## Pathena - Type: VC Fund - Location: Porto, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed, Series A, Series C - Focus: B2B, Marketing, Advertising Pathena is an investment firm engaged on boosting the success of information technology and digital biomedical companies. ## Nina Capital - Type: VC Fund - Location: Barcelona, Catalonia, Spain - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Health Care, Artificial Intelligence, Medical We deploy early stage capital to fuel the growth of need-driven health technology companies. ## Boehringer Ingelheim Venture Fund - Type: VC Fund - Location: Ingelheim Am Rhein, Rheinland-Pfalz, Germany - Relevant deals: 1 - Stages: Series A, Series B, Seed - Focus: Biotechnology, Health Care, Therapeutics The Boehringer Ingelheim Venture Fund is the strategic venture fund of the Boehringer Ingelheim Corporation. ## MS&AD Ventures - Type: VC Fund - Location: Menlo Park, California, United States - Relevant deals: 1 - Stages: Series A, Seed, Series B - Focus: FinTech, Insurance, InsurTech MS&AD Ventures is a corporate venture capital firm set upby MS&AD Insurance Group Holdings as its affiliated company. ## Lince Capital - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed - Focus: Grocery, Cannabis, Coworking 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. ## Artesian VC - Type: VC Fund - Location: Melbourne, Victoria, Australia - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Software, Artificial Intelligence, Information Technology Artesian Capital Management is an alternative investments management company, which was spun out of ANZ Banking Group's capital markets business in 2004, with backing from ANZ Private Equity. Artesian's founding partners, purchased ANZ's stake in 2005. The company has subsequently been fully owned by partners and staff. Since 2004,Artesian has managed specialised funds focused on credit arbitrage and relative-value strategies across global financial markets. In 2008, while continuing to manage credit relative value investment strategies from its New York, London and Singapore offices, Artesian began to make principal investments in seed/early-stage ventures from its offices in Sydney, Melbourne and Shanghai. In 2011, Artesian launched the first of its early stage venture capital funds and now manages AUD +255m. Artesian's VC strategy is to partner with best of breed accelerators, incubators, angel groups and university programs. In 2017, Artesian launched its China VC Fund with a USD 50m cornerstone investment industry super fund Hostplus. Artesian will soon launch a Southeast Asia VC Fund. ## ChangePartners - Type: VC Fund - Location: Porto, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed - Focus: Medical, Therapeutics, Biotechnology 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. ## Beta-i - Type: VC Fund - Location: Lisbon, Lisboa, Portugal - Relevant deals: 1 - Stages: Pre-Seed - Focus: FinTech, Computer, Software Beta-i is an organization created to boost entrepreneurship, and its mission is to foster a true innovation culture. We help new and established businesses grow, by offering 360º innovation services with 6 main areas: Acceleration, Events, Consulting, Open Innovation, Education and Investment.Internationally recognized as one of the leadingcompanies in this field, and for running Lisbon Challenge, one of Europe’s most active startup accelerators, since 2010 we have received +5000 applications to our several programs and accelerated over 850 startups, that have raised +65M. ## Brighteye Ventures - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Education, E-Learning, Software 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! ## Stableton Financial - Type: VC Fund - Location: Zug, Zug, Switzerland - Relevant deals: 1 - Stages: Secondary Market, Series C, Series D - Focus: FinTech, E-Commerce, Financial Services Challenge the boundaries of conventional investment portfolios. Stableton is a partner for fast-growing companies and founders across FinTech, Consumer, B2B SaaS and Mobility globally, with a focus on Europe and North America. ## Boost VC - Type: VC Fund - Location: San Mateo, California, United States - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Software, Virtual Reality, Blockchain 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. ## Boule Diagnostics - Type: VC Fund - Location: Spånga, Skane Lan, Sweden - Relevant deals: 1 - Stages: Series A - Focus: Medical, Health Care, Medical Device Boule develops, manufactures, and markets hematology analyzers for both human and veterinary markets. Read more about us here. ## Beta Capital - Type: VC Fund - Location: Porto, Lisboa, Portugal - Relevant deals: 1 - Stages: Seed - Focus: VoIP, Software, Wireless We support innovative tech ventures to unlock its potential by providing smart funding and hands-on advisory. ## Draper Startup House Ventures - Type: VC Fund - Location: San Mateo, California, United States - Relevant deals: 1 - Stages: Pre-Seed, Seed - Focus: Software, FinTech, E-Commerce Ventures | Draper Startup House # About Shizune Shizune.co is an investor database. Core features: - 48,091 startup investors (angels, VCs, accelerators, and others) - Email, phone, LinkedIn (for intros), socials, and other contact data - Updated daily from public funding news - CSV and Excel export The User can access the full database FOR FREE after signing up: shizune.co