Armilar announces closure of Fundo IV with €120 million

Armilar, one of the largest independent venture capital companies in the south of Europe, has announced the first closure of the fourth generation of its flagship funds, netting over €120 million to invest in disruptive technologies in Portugal, Spain and Europe.

The fund represents a significant milestone for Armilar and its ambition to support visionary founders. It is based on Armilar’s solid track record and the success of its previous funds, highlighting the manager’s ability to generate excellent returns through investments in early-stage technologies.

Armilar IV has attracted a solid base of institutional investors, including the European Investment Fund (EIF), Caixa Capital and Sociedad Española para la Transformación Tecnológica (SETT) — with Spain’s NextTech vehicle for deep tech innovation.

“Armilar IV represents a natural step for our company — the opportunity to expand our Series A investment platform and continue to support exceptional founders as they take their technologies from validation to scalability,” says Pedro Ribeiro Santos, Managing Partner of Armilar (pictured). “We see innovation of an extraordinary level emerging in the Iberian Peninsula and across Europe — and we want to help these companies grow globally.”

Duarte Mineiro, Partner at Armilar, explains: “Our goal is to build a portfolio of approximately 20 companies during the fund’s duration. The Iberian Peninsula represents an opportunity for growth, as it combines world-class talent, increasing intensity in R&D and growing institutional support. We are extremely grateful to the group of investors who share this vision and who entrust us with the responsibility to seize this opportunity on their behalf.”

João Marques, CEO of Caixa Capital said that the investment from Caixa Capital in Armilar IV is totally aligned with our strategy in the Portuguese venture capital ecosystem.

“Armilar has built a solid network of international partners as well as a diversified community of national founders and investors. Given its proven track record, we believe that Armilar IV will generate differentiated returns for its investors.”