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Top Angel Investors in Portugal

Portugal has become one of the fastest-growing markets in Europe over the last decade, with some reports claiming that funding & ecosystems is growing 2x faster than European ecosystem. Portugal is undergoing some changes. In particular, many British refugees from Brexit are relocating there (and everywhere else in Europe, but Lisbon has beaches and startup-friendly taxes). Non-EU residents are able to get a golden visa and tech entrepreneurs can get a startup visa.

Angel investors play a critical role in expanding the pipeline of investible businesses by providing early-stage ventures with essential resources including capital to bridge the funding gap and by sharing their expertise and networks to unlock business opportunities that facilitate growth.

We have compiled a list of active angel investors who are spearheading Portugal’s tech renaissance. They are venture capitalists, hedge fund managers, and entrepreneurs who scour Portugal for startups from Lisbon to Porto. If there is sufficient interest, the angels may offer mentorship, referrals, or further collaboration.

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1. Miguel Barbosa:

Miguel Barbosa has more than 20 years of experience in the venture capital and private equity industry. He is currently responsible for the Tourism business unit of Portugal Ventures, with a previous experience in the Engineering & Manufacturing BU of Portugal Ventures, namely in hardware, IoT, agri-food sectors as well as industrial products. Miguel has also worked as a Visiting Professor at Instituto Superior de Gastao.

Sector: Social Games, Digital Entertainment, Mobile, Education.

Portfolio: Aptoide, Bica Studios, Storyo, Science4you.

Connect With Him: LinkedInAngelList 



2. Pedro Riberio Santos:

Pedro Riberio Santos is the Partner at Armilar Venture Partners SGFCR, an independent VC with a history of more than 20 years, a high performance track record and an international footprint. Pedro has more than a decade experience in investing and supporting early-stage technology startups. He is also the Non-Executive Director at Vawlt Technologies.

Sector: Clean Technology, Consumer Internet, Mobile, Healthcare, Enterprise Software.

Portfolio: Feedzai, Muzzley, Codacy, Aquaspy.

Connect With Him: LinkedInAngelList 



3. Ricardo Poupada:

Ricardo Poupada is the Co-Founder and CEO of 5th Wall Agency, a new creative agency focused on virtual reality and augmented reality. In 2014, he co-founded SOT Ventures, an angel and private equity investment firm specializing in making investments in high-growth potential companies. Ricardo is a graduate of Concordia’s John Molson School of Business.

Sector: Mobile, Digital Media, E-Commerce, Consumer Internet.

Portfolio: MakeSpace, Foco, Return Path, DokDok.

Connect With Him: LinkedInAngelList 



4. Sergio Rodrigues:

Sergio Rodrigues is the President at Invicta Angels, one of the oldest and biggest Business Angels club in Portugal. Actively looking for projects and investing in startups developing businesses in several areas, from technology to health, from food to energy. Sergio has been mentoring a number of technology startups in Portugal. 

Sector: SaaS, Consumer Internet, Enterprise Software, Internet of Things.

Portfolio: Masterguardian, Priceless, StoresAce, Joint Action.

Connect With Him: LinkedIn  | AngelList 



5. Ricardo Normand:

Ricardo Normand is a Venture Partner at Tomahawk.VC, an entrepreneur led early stage venture capital firm based in Portugal. He is a seasoned professional with a depth of experience in different industries. Ricardo Normand is also the Managing Partner at Keppler Global. Ricardo earned his MBA from Ibmec. Ricardo has been supporting many Portugal startups. 

Sector: Fin-Tech, Education, Clean Technology, Information Technology.

Portfolio: Excegen, Sensedia, Nanox, BioCancer.

Connect With Him: LinkedInAngelList 



6. David Nicol Williams:

David Nicol Williams is the Co-Founder and CEO at NOMADX, which offers affordable accommodations for digital nomads throughout Europe with his base in Lisbon, Portugal. Before founding NOMADX, he was the Founder and CEO of BLiNQ Media. David earned his MBA from Emory University- Goizueta Business School.

Sector: Digital Media, Advertising, SaaS, Healthcare, Social Media. 

Portfolio: PrizePicks, NOMADX, Penrose, IgnitionOne.

Connect With Him: LinkedInAngelList 



7. Luis Antonio:

Luis Antonio is the former CEO and Co-Founder of SAFIRA, an information and technology service company based in Portugal. He is currently the Advisory Partner at KPMG, Portugal. Luis Antonio actively invests in the European and Asian markets. He has been an active angel investor and mentor for many startups.

Sector: Consumer Internet, Enterprise Software, E-Banking, Blockchain.

Portfolio: Aave, Balancer Labs, Chainlink, Enjin.

Connect With Him: LinkedIn 



8. Carol Peterson Smith:

Carol Peterson Smith is a Partner at Arno Capital, a firm focusing on early-stage investments through a virtual incubator in Portugal and Singapore. Carol is a Lisbon based entrepreneur and investor, focusing mainly on early-stage investments. Carol Peterson Smith is also the Co-Founder of Coach Multiplier.

Sector: Cyber Security, Fin-Tech, Technology, Healthcare.

Portfolio: Apvera, Optitune, Tellus Holdings, Business Phone.

Connect With Her: LinkedInAngelList 



9. J Basilio Simoes:

J Basilio Simoes is the Co-Founder and Vice Chairman at Cleanwatts, a firm that delivers energy efficiency through a suite of proprietary advanced energy management software platforms. He holds a PhD in Technological Physics and 30 years experience in the areas of electronics and remote control, innovation management and entrepreneurship.

Sector: Clean Energy, Internet of Things, Consumer Electronics, Digital Health.

Portfolio: InovRetail, Tech4Home, Energia Simples, Virtual Power Solutions.

Connect With Him: LinkedInAngelList 



10. David Carvalhao:

David Carvalhao is the Co-Founder of IHCare- Innovation Hospital Care, a startup company driven by three main principles: Investigation, Development and Implementation of high-tech solutions, with emphasis on resource-saving  to maximize the healthcare units time and money. David is a serial entrepreneur, inventor, investor and innovator at a number of tech companies and amazing new startups. He is also a Board Advisor at B11 Top Talents.

Sector: Healthcare, SaaS, Fin-Tech, Biotechnology.

Portfolio: Heaboo, Petable, Edge Innovation, Coderhat c.

Connect With Him: LinkedInAngelList 



11. Nikhil Mandrekar:

Nikhil Mandrekar is a seasoned entrepreneur and business consultant with more than 10 years of experience coaching startups through their growth investment rounds. Currently, he is the Founder and CEO at, through this platform, he consults and invests in startups at seed stages to help them refine their investment presentations, plans and proposal. 

Sector: Consumer Internet, Fin-Tech, Social Commerce, SaaS.

Portfolio: Mercury, SuperRare, Weave, Bloomlife.

Connect With Him: LinkedIn 



12. Miguel Quintas:

Miguel Quintas is the Founder and Managing Director at Parcela Ja, a startup exclusively dedicated to installment payments for both online and offline shops. Miguel has been an active angel investor and mentor for a number of startups. He is also the Founder and Chairman at He earned his MBA from Universidade Catolica Portugesa.

Sector: Financial Services, Fin-Tech, Ticketing, E-Commerce, Consumer Internet.

Portfolio: Grupo Airmet, Parcela Ja,

Connect With Him: LinkedIn 



13. Christina Fonesca:

Christina Fonesca is the Venture Partner at Indico Capital Partners, a leading institutional and independent venture capital firm based in Lisbon. She is a female tech entrepreneur passionate about solving problems while learning and focusing on good execution. Christina has been recently recognized as a 30 Under 30 in Enterprise Technology by Forbes.

Sector: Consumer Internet, Enterprise Software, Fin-Tech, Cyber Security.

Portfolio: Amplemarket, EatTasty, Nutrium, Barkyn.

Connect With Her: LinkedIn 



14. Stephan Morais:

Stephan Morais was formerly an Executive Board Member at Caixa Capital, a private equity and venture capital fund management company. He is currently the Managing General Partner at Indico Capital Partners. Stephan Morais is a YPO ( Young Presidents Organization) Member. He holds an MBA from the Harvard Business School.

Sector: AI, Internet of Things, Fin-Tech, Cyber Security.

Portfolio: Movvo, Attentive, BIZAY, Nutrium.

Connect With Him: LinkedIn 



15. Hugo Pereira:

Hugo Pereira is a Partner at Shilling, a leading early stage venture capital firm in Portugal. Hugo is an experienced private equity and venture capital professional with extensive of experience in executing deals in all stages of investment across multiple European countries. He is also an Executive Board Member at Uhub Student Residence.

Sector: Clean Technology, Consumer Internet, Enterprise Software, Mobile, Healthcare.

Portfolio: Mainframe, Zaask, Uniplaces, Unbabel.

Connect With Him: LinkedInAngelList 



16. Alexandre Santos:

Alexandre Santos is the Partner and Founder at Chamaeleon, an early stage venture capital firm based in Silicon Valley. He is an experienced angel investor, advisor and board member in a wide set of startups. Alexandre Santos actively invests in the US and European markets. He is also a Strategic Advisor at Trojan Horse was a Unicorn.

Sector: Big Data, AI, E-Commerce, Consumer Internet, Enterprise Software.

Portfolio: Probely, jscrambler, Sensei, Placeme.

Connect With Him: LinkedIn 



17. Carlos Silva:

Carlos Silva is a Partner at Faber, an early stage VC investing in founders of global software companies, with a specialty focus on B2B and data driven startups. Carlos is a mentor at several acceleration programmes and serves as an advisor to multiple innovative startups. Carlos holds an MBA from the University of Oxford.

Sector: Consumer Internet, Big Data, Enterprise Software, Fin-Tech.

Portfolio: YData, HOKO, Liquid, Unbabel.

Connect With Him: LinkedIn 



18. Pedro Rocha Vieira:

Pedro Rocha Vieira is the Co-Founder and CEO at Beta-i, a platform that helps build innovative ecosystems. Pedro is an active angel investor and mentor. He is also the Co-Founder and Managing Partner at LC Ventures, a pre-seed venture capital firm. He sees himself as a visioner and a connecter, and loves creative and collaborative work. 

Sector: AI, SaaS, E-Commerce, Consumer Internet, Ed-Tech.

Portfolio: Sizebay, Shiptimize, Facestore, Triad.

Connect With Him: LinkedIn 



19. Alexandre Barbosa:

Alexandre Barbosa is the Former Vice President at ACEPI-Digital Economy Association. He is currently the Managing Partner at Faber. His previous experience revolve around innovation and technology business as entrepreneur and investor. Alexandre has a degree in Industrial Engineering and Management from Instituto Superior Tecnico.

Sector: Healthcare, AI, Consumer Internet, Ed-Tech.

Portfolio: Coacher, bugle, Tandem, apres.

Connect With Him: LinkedIn 



20. Pedro Falcao:

Pedro Falcao is the Board Member of Investors Portugal. He is currently the Managing Partner at LC Ventures. Pedro Falcao is an experienced business angel and venture capitalist. He earned his MBA from Nova School of Business and Economics. Pedro has managed to help startups grow in to large-scale businesses with substantial growth and profit.

Sector: E-Commerce, AI, Digital Media, Consumer Internet, Enterprise Software.

Portfolio: Mindprober, 360hyper, Zapiens, Flock.

Connect With Him: LinkedIn


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