Multi-stage VC, Lisbon

Armilar Venture Partners

Venture capital firm · Lisbon · Founded 2006

Quick read

Armilar Venture Partners is Portugal's largest independent VC, founded in 2006 and headquartered in Lisbon. The firm manages ~€300M in AUM across four funds, backing seed-to-early-stage tech companies across Iberia and Europe. Its Fund IV closed at €120M in 2024, one of the largest venture funds in Portuguese history, with notable portfolio exits including OutSystems, Feedzai, and Sword Health.

Key facts

Founded
2006
Employees
11
Sectors
enterprise, ai, saas, generalist
Website
www.armilar.com

Investment thesis

Armilar leads seed and early-stage investments in technology-driven companies, prioritising Iberia for seed deals and expanding across Europe and selectively the US for Series A and beyond, with a focus on deep tech and software businesses targeting global markets.

Recent activity

  • May 2026press
    Armilar published a perspectives piece explaining its investment thesis behind DOJO AI, arguing that general-purpose AI alone can't fix marketing. armilar.com
  • Apr 2026investment
    DOJO AI, an Armilar portfolio company, raised $6M for its agentic marketing platform. armilar.com
  • Apr 2026leadership
    Armilar promoted four team members, expanding its senior bench across the firm. armilar.com
  • Apr 2026press
    Armilar published its 2026 edition of insights on the current state of the VC industry. armilar.com
  • Nov 2025fundraise
    Armilar held the first closing of Armilar IV, its fourth-generation flagship fund, securing over €120M. Anchor LPs include the European Investment Fund (EIF) and Spain's SETT via the NextTech deep-tech vehicle. The fund targets Series A investments across Portugal, Spain, and broader Europe. armilar.com
  • 2024fundraise
    Armilar announced the first closing of Fund IV at €120M, focused on technology-driven companies across Iberia and Europe. Pedro Ribeiro Santos discussed the milestone with Jornal de Negócios and the EUVC Podcast. pt.linkedin.com
  • 2024press
    Tech.eu featured Armilar following the Fund IV first close announcement, highlighting its commitment to supporting founders across the Iberian tech scene. pt.linkedin.com
  • 2024press
    Pedro Ribeiro Santos joined the EUVC Podcast to discuss Armilar's evolution from a bank spinout to a pan-European VC franchise. linkedin.com
  • 2024leadership
    Armilar promoted four team members in a single day, reflecting growth in the firm's investment team. linkedin.com
  • 2024press
    Armilar attended the Hello Tomorrow DeepTech summit, engaging with founders working on deep technology challenges across AI and life sciences. pt.linkedin.com

Notable investments

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

  • Pedro Ribeiro Santos · Managing Partner
    LinkedIn
  • Duarte Mineiro · Partner
    LinkedIn
  • Carmo Sousa Coutinho · Chief Compliance Officer
    LinkedIn
  • Joaquim Servulo Rodrigues · Partner
    LinkedIn
  • Joaquim Sérvulo Rodrigues · Founder & Managing Partner

Sources

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Frequently asked

What is Armilar Venture Partners?+

Armilar Venture Partners is Portugal's largest independent VC, founded in 2006 and headquartered in Lisbon. The firm manages ~€300M in AUM across four funds, backing seed-to-early-stage tech companies across Iberia and Europe.

Where is Armilar Venture Partners headquartered?+

Armilar Venture Partners is headquartered in Lisbon, Portugal.

When was Armilar Venture Partners founded?+

Armilar Venture Partners was founded in 2006.

What sectors does Armilar Venture Partners invest in?+

Armilar Venture Partners focuses on enterprise, ai, saas, generalist. They primarily invest in these sectors.

How do I prepare for a meeting with Armilar Venture Partners?+

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Generated by briefthecall.com from public web sources. Last updated June 6, 2026. Each claim is linked to its source above.

Automatically generated by AI from public sources. May be inaccurate or out of date. Remove or correct this profile →