# Top 20 Sustainability Startup Investors in Portugal in May 2026

## Portugal Ventures
- Type: VC Fund
- Location: Porto, Lisboa, Portugal
- Relevant deals: 7
- 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.

## 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.

## 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.

## Korys
- Type: VC Fund
- Location: Halle, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Information Technology, E-Commerce

Korys is the name chosen by the Colruyt family for their investment structure. The name Korys is derived from the Latin word for hazelnut tree – Corylus - which is at the origin of the Colruyt name.Their multi-disciplinary approach enables us to create a well-balanced, diversified portfolio of listed stocks and bonds, private equity funds, anddirect participations in small and medium-sized companies. Through their investments, they aim to make a positive impact on people and the planet, while generating attractive returns. A “three P” approach (People, Planet, Profit) forms the cornerstone of their investment strategy. They invest for the long term, as they realize that it takes time to achieve the sustainable impact they are aiming for. They focus their investments in sectors in which they have built substantial expertise as a team: Cleantech, consumer goods & retail and life sciences.

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

## G7 Renewable Energies
- Type: VC Fund
- Location: Cape Town, NA - South Africa, South Africa
- Relevant deals: 1
- Stages: Series A
- Focus: Energy, Renewable Energy, Natural Resources

Leaders in renewable energy development in Sub-Saharan Africa.

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

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

Carlos Oliveira

## 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.

## InterCapital Group
- Type: VC Fund
- Location: Wilmington, North Carolina, United States
- Relevant deals: 1
- Stages: Seed
- Focus: Biofuel, Biotechnology

InterCapital Group provides management consulting and business advisory services to a wide range of companies, executives management teams and startups. We have the capacity to assist our clients in a variety of ways including business strategy, marketing plans, product development, angel investment or venture capital raises, social mediaconsulting, human resources, operational improvement, developing or strengthening a executive team or advisory board .The InterCapital Group typically works with clients and companies with less than $10 million on annual revenue. Current and past clients consist of companies from many sectors including financial services, consumer web, high-tech, software, mobile, media, communications, retail, hospitality, consumer products, consumer services, social media, nonprofits, insurance and wealth management.

## 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.

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