Investments
281Portfolio Exits
10Partners & Customers
1About 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.
Latest Portugal Ventures News
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. 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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.

Portugal Ventures Investments Activity

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 | |||||
6/27/2023 | Seed VC |
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 | ||
Amount | $1.97M | ||||
New? | No | Yes | Yes | ||
Co-Investors | |||||
Sources | 1 | 2 | 2 |
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 | 1 | |||
12/8/2021 | Acquired | 2 | |||
9/14/2021 | Acquired | 4 | |||
Date | 11/10/2022 | 12/8/2021 | 9/14/2021 | ||
---|---|---|---|---|---|
Exit | Acq - Fin | Acquired | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 1 | 2 | 4 |
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 | Leveraged Buyout | 1 | ||||
7/24/2008 | ||||||
6/30/2008 | ||||||
12/31/2007 | Private Equity |
Date | 9/21/2010 | 7/24/2008 | 6/30/2008 | 12/31/2007 |
---|---|---|---|---|
Investment Stage | Private Equity | |||
Companies | ||||
Valuation | ||||
Total Funding | ||||
Note | Leveraged Buyout | |||
Sources | 1 |
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 . | 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 . |
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 | |
Name | Jose Franca | ||
---|---|---|---|
Work History | |||
Title | Chief Executive Officer | ||
Status | Current |
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