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Venture Capital
portugalventures.pt

Investments

281

Portfolio Exits

10

Partners & Customers

1

About Portugal Ventures

Portugal Ventures is a Venture Capital firm, focusing its investments in innovative, scientific and technology-based startups, with significant competitive advantages and export oriented to global markets. The firm has its head office in Portugal and offices in San Francisco, Boston, Austin, Berlin and London, and works alongside entrepreneurs, enabling high-growth ventures at a global scale. Portugal Ventures has €350M AUM and currently manages a portfolio of more than 70 startups.

Headquarters Location

Av. Dr. Antunes Guimaraes, 103

Porto, 4100-079,

Portugal

+351 226 165 390

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Latest Portugal Ventures News

Portuguese startup LUGGit bags €1.8m to expand luggage management services in European cities

Nov 22, 2023

Portuguese startup LUGGit bags €1.8m to expand luggage management services in European cities Published: 21-11-2023 12:58:00 | By: Pie Kamau | hits: 131 | Tags: LUGGit, a Portuguese company that offers professional luggage management services, has sealed a €1.8 million financing round with three investment funds focused on Portuguese companies. The deal has been led by GED Ventures Portugal and Caixa Capital, funds that were accompanied by Portugal Ventures, an investor that has previously backed the company. LUGGit is dedicated to picking up, storing and delivering luggage at the time and place its users choose. Founded in 2019 and recognised as the second most innovative idea by the World Tourism Organization in 2020, a solution that started to give service in Lisbon and Porto and that from then on, has grown in all aspects. After redesigning and redefining its approach in 2021, LUGGit has achieved agreements with more than 2,000 owners and managers of tourist accommodations and expanded its services to five European cities located in three different countries. In 2022, it began operating in Prague and Barcelona, an international expansion that culminated with the opening in Madrid in July 2023. An expansion, with which it managed to reach more than 10,000 users, and to obtain more than double of the 2022 revenue during this financial year. Having managed more than 50,000 pieces of luggage since its beginning, LUGGit offers a quality service that allows owners and managers of tourist accommodations that lack warehousing to offer a complete experience to their guests, who will be able to explore the city like a local without luggage being an impediment. Ricardo Figueiredo , CEO, Co-founder, LUGGit: ''The key to our success consists of keeping excellence and customer satisfaction as our essence. A principle that investors have valued and that, thanks to their collaboration and trust, allows us to continue advancing in our expansion plan, which aims to open markets in seven new European cities located in three different countries and increase our staff with eight more people over the next year." After this financing round, LUGGit reaches €2.2 million of investment and support from investment funds focused on Portugal, such as GED Ventures Portugal and Caixa Capital as well as Portugal Ventures, a fund that led its first financing round in 2019 and allowed the business to expand. Pedro Rangel , Chairman of the Board of Directors, Caixa Capital: "With this investment, Caixa Capital reinforces its strategy of supporting national entrepreneurs whose projects are focused on the development of innovative and high potential products and services oriented to the global market. In the specific case of LUGGit, we have identified a differentiating opportunity to transform and improve the tourist experience, associated with the transport and storage of luggage through an app.'' Pedro Mello Breyner , Executive Board Member, Portugal Ventures: "Portugal Ventures invested in LUGGit in 2019, shortly after they started operating in Lisbon and Porto. Since then, we have been proud to accompany the team, an example of resilience and overcoming even in pandemic years. With a presence in some of the most touristic cities in Europe, this investment round is an important step for the team of promoters to implement the reinforcement of its internationalization strategy, which will allow the company to grow in qualified human resources and will contribute to improve the visibility of Portugal as an example of good practices in the promotion of entrepreneurship." With the funding obtained, LUGGit will be able to continue with its strategy of expansion into more markets, as well as the expansion of the services it provides to its users in the different locations where it operates, without leaving behind its excellence, rated 4.9 out of 5 on Trustpilot, based on more than 1700 reviews. [Interview] Caroline Mutuku, General Manager, Glovo, Kenya Caroline Mutuku  is Kenya's General Manager of multi-category app  Glovo . Caroline joined Glovo in December 2022 from Swvl Kenya where she also served as the General Manager from December 2021. In this interview... read more here [Interview] Renate Swanepoel, COO, INC. Networking Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose. She has gained significant networking and communication... read more here [Interview] Anne-Marie Chidzero, Chief Investment Officer, FSD Africa Anne-Marie Chidzero  is the Chief Investment Officer at the Financial Sector Deepening Africa (FSD Africa) Investments. In this interview, she talks about the risks and opportunities in backing Africa’s early-stage startups... read more here [Interview] James Kilpatrick, Chair, Gravitilab, UK Gravitilab is a "Space as a Service" business providing research, testing and qualification facilities to space agencies, government, academia and commercial enterprises. The company’s Chair and Chief Finance Officer... read more here [Interview] Ramanjeet Singh, CEO, Woosper, USA Woosper  is a US-based digital advertising and marketing agency focused on creating experiences that help clients discover their place in the digital world. The CEO  Ramanjeet Singh ... read more here

Portugal Ventures Investments

281 Investments

Portugal Ventures has made 281 investments. Their latest investment was in LUGGit as part of their Seed VC - II on November 11, 2023.

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Portugal Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/21/2023

Seed VC - II

LUGGit

$1.97M

No

1

7/4/2023

Seed VC

Plutospetfood

Yes

2

7/4/2023

Seed VC

Floating Particle

Yes

2

6/27/2023

Seed VC

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10

6/27/2023

Seed VC

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$99M

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10

Date

11/21/2023

7/4/2023

7/4/2023

6/27/2023

6/27/2023

Round

Seed VC - II

Seed VC

Seed VC

Seed VC

Seed VC

Company

LUGGit

Plutospetfood

Floating Particle

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Amount

$1.97M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

2

2

10

10

Portugal Ventures Portfolio Exits

10 Portfolio Exits

Portugal Ventures has 10 portfolio exits. Their latest portfolio exit was Science4you on November 10, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/10/2022

Acq - Fin

$99M

1

12/8/2021

Acquired

$99M

2

9/14/2021

Acquired

$99M

4

5/4/2021

Acquired

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$99M

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10

11/11/2020

Acquired

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$99M

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10

Date

11/10/2022

12/8/2021

9/14/2021

5/4/2021

11/11/2020

Exit

Acq - Fin

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

2

4

10

10

Portugal Ventures Acquisitions

4 Acquisitions

Portugal Ventures acquired 4 companies. Their latest acquisition was Artenius Sines on September 21, 2010.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/21/2010

$99M

Leveraged Buyout

1

7/24/2008

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$99M

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10

6/30/2008

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$99M

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10

12/31/2007

Private Equity

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$99M

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10

Date

9/21/2010

7/24/2008

6/30/2008

12/31/2007

Investment Stage

Private Equity

Companies

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Valuation

$99M

$99M

$99M

$99M

Total Funding

Note

Leveraged Buyout

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Sources

1

10

10

10

Portugal Ventures Partners & Customers

1 Partners and customers

Portugal Ventures has 1 strategic partners and customers. Portugal Ventures recently partnered with Casa Mendes Gonçalves on September 9, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

9/25/2023

Partner

Casa Mendes Gonçalves

Portugal Ventures and Casa Mendes Gonçalves enter partnership to create new opportunities for innovation in the processing of food commodities - Portugal Ventures

Portugal Ventures and Casa Mendes Gonçalves enter partnership to create new opportunities for innovation in the processing of food commodities .

1

Date

9/25/2023

Type

Partner

Business Partner

Casa Mendes Gonçalves

Country

News Snippet

Portugal Ventures and Casa Mendes Gonçalves enter partnership to create new opportunities for innovation in the processing of food commodities - Portugal Ventures

Portugal Ventures and Casa Mendes Gonçalves enter partnership to create new opportunities for innovation in the processing of food commodities .

Sources

1

Portugal Ventures Team

3 Team Members

Portugal Ventures has 3 team members, including current Chief Executive Officer, Jose Franca.

Name

Work History

Title

Status

Jose Franca

Chief Executive Officer

Current

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Name

Jose Franca

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Work History

Title

Chief Executive Officer

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Status

Current

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