# Top 40 Health Care VC (Venture Capital) Funds in Portugal in May 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Portugal Ventures | 21 | Portugal, United States, France | Seed, Pre-Seed | Software, Health Care, Information Technology |
| Caixa Capital | 7 | Portugal, United States, Spain | Seed, Series A | Software, Information Technology, Health Care |
| Armilar Venture Partners | 7 | Portugal, United States, United Kingdom | Series A, Seed | Software, Information Technology, Manufacturing |
| Shilling | 5 | Portugal, Spain, United States | Seed, Pre-Seed, Series A | Internet, Information Technology, Software |
| Bynd Venture Capital | 5 | Portugal, Spain, United States | Seed, Series A | Software, E-Commerce, Health Care |
| Demium Capital | 4 | Spain, Portugal, Poland | Pre-Seed, Seed, Series A | Software, Health Care, Information Technology |
| Olisipo Way | 2 | Portugal | Pre-Seed, Seed, Convertible Note | Software, SaaS, Communities |
| Critical Ventures | 2 | Portugal, United States | Seed, Series A | Medical, Computer, Genetics |
| TheVentureCity | 2 | United States, Spain, Brazil | Seed, Pre-Seed, Series A | Software, Artificial Intelligence, SaaS |
| Vesalius Biocapital Partners | 2 | Belgium, Germany, The Netherlands | Series B, Series A, Series C | Biotechnology, Health Care, Medical |
| Breega | 2 | France, United Kingdom, United States | Seed, Series A | FinTech, Software, Financial Services |
| TrulyMad | 2 | Portugal | Pre-Seed | Beauty, Fitness, Wellness |
| Social Impact Fund | 1 | Portugal, United States | Seed | Apps, Video, Medical |
| Green Innovations | 1 | Portugal | Series A | Medical, Genetics, Health Care |
| Casa Verde Capital | 1 | United States, Germany, Canada | Seed, Series A, Series B | Cannabis, Health Care, Information Technology |
| Bionova Capital | 1 | Portugal, United Kingdom | Seed | Biotechnology, Hospital, Health Care |
| Ganexa Capital | 1 | Portugal, United States, United Kingdom | Seed, Pre-Seed | Health Care, Fitness, Wellness |
| Big Start Ventures | 1 | Portugal, United States, Sweden | Seed, Pre-Seed, Convertible Note | FinTech, Financial Services, Information Technology |
| WISENEXT | 1 | Portugal, United States | Seed, Pre-Seed | Software, Artificial Intelligence, Internet |
| Indico Capital Partners | 1 | Portugal, United States, Italy | Seed, Series A, Series C | Information Technology, E-Commerce, B2B |
| Kiilto Ventures | 1 | Finland, Portugal | Seed | Construction, CRM, Hospital |
| StartUp Health | 1 | United States, Canada, United Kingdom | Seed, Pre-Seed | Health Care, Wellness, Medical |
| LC Ventures | 1 | Portugal, China, Poland | Seed, Pre-Seed, Series D | Information Technology, Artificial Intelligence, Internet of Things |
| MSM | 1 | United Kingdom, Germany, Portugal | Seed, Pre-Seed, Series A | Information Technology, Software, B2B |
| EIT Health | 1 | United Kingdom, Spain, Ireland | Grant, Pre-Seed, Seed | Health Care, Medical Device, Medical |
| High-Tech Grunderfonds | 1 | Germany, Switzerland, United States | Seed, Series A | Software, Information Technology, Biotechnology |
| Pathena | 1 | Portugal | Seed, Series A, Series C | B2B, Marketing, Advertising |
| Nina Capital | 1 | United States, United Kingdom, Austria | Seed, Pre-Seed, Series A | Health Care, Artificial Intelligence, Medical |
| Boehringer Ingelheim Venture Fund | 1 | United States, Germany, Belgium | Series A, Series B, Seed | Biotechnology, Health Care, Therapeutics |
| MS&AD Ventures | 1 | United States, Germany, Singapore | Series A, Seed, Series B | FinTech, Insurance, InsurTech |
| Lince Capital | 1 | Portugal | Seed | Grocery, Cannabis, Coworking |
| Artesian VC | 1 | Australia, United States, Hong Kong | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, Information Technology |
| ChangePartners | 1 | Portugal | Seed | Medical, Therapeutics, Biotechnology |
| Beta-i | 1 | Portugal | Pre-Seed | FinTech, Computer, Software |
| Brighteye Ventures | 1 | United Kingdom, France, Spain | Seed, Series A, Pre-Seed | Education, E-Learning, Software |
| Stableton Financial | 1 | United States, Germany, Switzerland | Secondary Market, Series C, Series D | FinTech, E-Commerce, Financial Services |
| Boost VC | 1 | United States, Canada, United Kingdom | Seed, Pre-Seed | Software, Virtual Reality, Blockchain |
| Boule Diagnostics | 1 | Portugal | Series A | Medical, Health Care, Medical Device |
| Beta Capital | 1 | Portugal | Seed | VoIP, Software, Wireless |
| Draper Startup House Ventures | 1 | United States, Singapore, Australia | Pre-Seed, Seed | Software, FinTech, E-Commerce |

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