12 Best Active Pre Seed Investors in Portugal in 2025
The pre-seed stage is where ideas transform from abstract concepts into real compaines. In the European investment panorama, having tracked investment activity for 2,500+ funds, a select group of pre-seed investors emerges, consistently nurturing fledgling ideas with both capital and mentorship.
For an investor to feature on our 2025 list of top pre-seed investors, they need to have invested in at least 5 rounds at this nascent stage. For budding entrepreneurs embarking on their first steps or those curious about the earliest backers of innovation, this list offers a unique perspective into the initial champions of startups.
Last update to the database: Jun 3, 2025. See changelog.
Investor Rankings are calculated using our Seedtable Score – a 1 to 100 score that uses quantitative and qualitative data points (like the size of their fund or the quality of the companies they invested in) to signal the strength behind an investor. A score closer to 100 indicates an investor is worth watching closely.
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List of 12 top Portugal VCs
Heartcore is a venture capital fund based in Copenhagen. They invest in startups at stages ranging from pre-seed to series F, with check sizes between $300,000 and $6 million. Heartcore focuses on industries including tech, health, real estate, finance, and entertainment. Their portfolio includes FlexAI, Zefir, Travel Perk, Podimo, and Taster. They aim to support founders in creating impactful consumer-focused brands, helping driven entrepreneurs turn their ideas into successful businesses.
Offices:
Copenhagen (HQ)
Berlin
Paris
Stockholm
Lisbon
Investment Stage:
Pre Seed, Seed, Series A, Series B, Series C, Series D, Series E, Series F, Unknown
Check Size:
$100k - $500M
Industries:
Climate Tech & Green Tech, Health Tech, Edtech
Top investments in Portugal:
Indico Blue Fund is a venture capital fund based in Lisbon. It invests in early-stage companies from pre-seed to Series C, with check sizes between $100,000 and $10 million. The fund focuses on sectors such as climate tech, ecommerce, sales, manufacturing, hiring, logistics, IoT, insuretech, and service industries. Indico Blue has backed companies like Bizay, Cargofive, FlexSea, Eleos, and Nortech AI. Founded in 2017, the Indico team has a strong track record of supporting global tech success.
Offices:
Lisbon (HQ)
Investment Stage:
Pre Seed, Seed, Series A, Series B, Series C
Check Size:
$1M - $40M
Industries:
Climate Tech & Green Tech, Foodtech, Gaming
Top investments in Portugal:
Offices:
Lisbon (HQ)
Investment Stage:
Pre Seed, Seed, Series A
Check Size:
$2.5M - $10M
Industries:
Health Tech, Fashion, Insuretech
Top investments in Portugal:
APEX Capital is a venture capital fund based in Cascais that invests in early-stage companies, focusing on seed and pre-seed rounds. They typically write checks ranging from $250k to $5M, concentrating on sectors like sports technology, analytics, and manufacturing. APEX Capital has backed companies such as Hexis and Exclusible, partnering with elite athletes to bring expertise in sports, media, and entertainment to their investments.
Offices:
Cascais (HQ)
Investment Stage:
Pre Seed, Seed
Check Size:
$2.5M - $5M
Industries:
Sportstech, Data and Analytics, Manufacturing
Top investments in Portugal:
Bynd Venture Capital is a leading venture capital fund in Lisbon that supports early-stage tech companies in Iberia. They focus on seed and pre-seed stages, with investments ranging from €200,000 to €300,000. Key sectors include real estate, e-commerce, fintech, and health tech. Notable investments include UpHill, Ritmo, Frenetic, Ukio, and ZenRows.
Offices:
Lisbon (HQ)
Investment Stage:
Pre Seed, Seed, Series A, Unknown
Check Size:
$100k - $50M
Industries:
Health Tech, FinTech, Foodtech
Top investments in Portugal:
Offices:
Lisbon
Investment Stage:
Pre Seed, Seed
Check Size:
$1M - $5M
Industries:
FinTech, AR / VR, Manufacturing
Top investments in Portugal:
3 Comma Capital is a Lisbon-based venture capital fund founded in 2022. They focus on seed-stage investments in media, entertainment, sales, and marketing sectors. The fund emphasizes digital assets' potential in future markets, supporting wealth management firms, family offices, and institutional investors in the Web 3.0 space. Notable investments include Scorestars, aiming to drive growth through digital and blockchain technologies.
Offices:
Lisbon
Investment Stage:
Pre Seed, Seed
Check Size:
$500k - $1M
Industries:
Media and Entertainement, Sales and Marketing
Top investments in Portugal:
Portugal Ventures is a venture capital fund based in Porto, specializing in early-stage startups. They focus on tech, life sciences, and tourism, particularly in areas such as privacy, security, and health tech. Investment sizes range from €50,000 to €1,500,000. Portugal Ventures has backed companies like Probely and Lovys. Their goal is to help Portuguese startups grow and succeed by providing essential capital and support at crucial early stages.
Offices:
Porto (HQ)
Lisbon
Amsterdam
Investment Stage:
Pre Seed, Seed, Series A, Unknown
Check Size:
$1M - $30M
Industries:
Climate Tech & Green Tech, Health Tech, FinTech
Top investments in Portugal:
Faber Ventures, based in Lisbon, invests in early-stage tech startups from pre-seed to Series B, with check sizes from $100,000 to $1.5 million. Focus areas include biotech, AI, and climate tech. Faber supports entrepreneurs leveraging science and technology for significant impacts. With dedicated funds, expert teams, and advisors, they help founders grow globally. Since 2013, Faber has backed numerous successful firms, promoting digital and climate transformation.
Offices:
Lisbon (HQ)
Investment Stage:
Pre Seed, Seed, Series A, Series B, Unknown
Check Size:
$100k - $20M
Industries:
Climate Tech & Green Tech, Health Tech, Crypto & web3
Top investments in Portugal:
FundBox is a venture capital fund based in Lisbon, focusing on early-stage investments in Space Tech and the Internet of Things. They typically invest at the pre-seed stage, offering clear and transparent investment processes with no conflicts of interest. Regulated by the Comissão do Mercado de Valores Mobiliários, FundBox comprises Fundbox SGOIC, S.A., and Fundbox SCR, S.A., both Portuguese legal entities. Notable investments include Connected. FundBox provides a distinct alternative for venture capital in Portugal.
Offices:
Lisbon
Investment Stage:
Pre Seed
Check Size:
$2.5M - $5M
Industries:
Space Tech, Internet of Things
Top investments in Portugal:
Olisipo Way is a venture capital fund based in Lisbon, focused on pre-seed investments in Sales and Marketing, Adtech, and Productivity Tools. With investment sizes ranging from $250k to $5M, they have backed companies such as Checkfirst and Advertio. Specializing in B2B projects, Olisipo Way aims to build a supportive community to enhance the lives of its startups.
Offices:
Lisbon
Investment Stage:
Pre Seed
Check Size:
$1M - $2.5M
Industries:
Adtech, Sales and Marketing, Productivity Tools
Top investments in Portugal:
Rising Ventures, a venture capital fund based in Lisbon, specializes in pre-seed investments in Sales and Marketing and Adtech industries. They support early-stage technology companies that primarily use the internet for distribution. Notable investments include advertio.
Offices:
Lisbon
Investment Stage:
Pre Seed
Check Size:
$1M - $2.5M
Industries:
Adtech, Sales and Marketing
Top investments in Portugal: