# Top 10 Medical Device Startup Investors in Portugal in May 2026

## Portugal Ventures
- Type: VC Fund
- Location: Porto, Lisboa, Portugal
- Relevant deals: 6
- 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: 3
- 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: 2
- 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.

## Bynd Venture Capital
- Type: VC Fund
- Location: Lisbon, Lisboa, Portugal
- Relevant deals: 2
- 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, ...).

## 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.

## 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.

## 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.

## 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.

## 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.

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