10 Lisbon cleantech investors write €100K-€5M for Portuguese climate startups in 2026. EDP Ventures, Armilar, and Portugal Ventures close in 8-16 weeks. Portugal cleantech raised €320M in 2025.
Portugal's cleantech market raised €320M in 2025, up 38% from 2024. Lisbon captures 70% of Portuguese cleantech VC as Iberia's leading green tech hub.
EDP Ventures and Galp Ventures deployed €90M in Lisbon cleantech in 2025. Portuguese cleantech with EDP or Galp pilot closes Lisbon VC 6 weeks faster than cold.
Portugal National Energy Plan commits €5B to renewable energy by 2030. Portuguese cleantech with PNEC alignment closes Portugal Ventures 5 weeks faster.
This guide covers 10 active cleantech investors in Lisbon writing cheques in 2026.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| EDP Ventures | Corporate VC | €200K-€5M | Portuguese cleantech, energy, solar seed | edp.com |
| Armilar Venture Partners | Seed / Series A VC | €500K-€5M | Iberian cleantech, deep tech, green | armilar.com |
| Portugal Ventures | Public seed VC | €200K-€3M | Portuguese cleantech, green seed fund | portugalventures.pt |
| Bynd Venture Capital | Seed / Series A VC | €500K-€5M | Iberian cleantech, B2B, green tech | bynd.com |
| Faber | Seed / Series A VC | €500K-€5M | Portuguese cleantech, climate, B2B | faber.vc |
| Indico Capital | Seed / Series A VC | €500K-€5M | Lisbon cleantech, climate tech, B2B | indicocapital.com |
| Galp Ventures | Corporate VC | €200K-€3M | Portuguese energy cleantech, hydrogen | galp.com |
| ENVC Environment VC | Green seed VC | €100K-€1M | Portuguese cleantech public green VC | agif.pt |
| Horizon Europe Clean Portugal | EU grant / VC | €200K-€3M | Portuguese Horizon cleantech grant | horizoneurope.eu |
| Vestas Ventures | Corporate VC | €200K-€5M | Iberian wind and energy tech seed | vestas.com |
Control your Lisbon cleantech pitch and IP documentation
Lisbon cleantech VCs require NDA before IP and technical review. Ellty logs every investor who opens your materials.
Start free 14-day trialWhat Lisbon cleantech VCs look for
Lisbon cleantech VCs require EDP or Galp pilot before seed term sheet discussion. Portuguese cleantech with PNEC national energy plan alignment closes fastest.
Armilar and Faber require €10K MRR and pilot before cleantech seed close. Portuguese cleantech with €10K MRR and utility pilot closes Lisbon seed fastest.
Share your Lisbon cleantech pitch via a virtual data room with timed investor access. Lisbon cleantech VCs open IP, pilot, and technical sections within 48 hours.
Horizon Europe Clean Portugal backs pre-revenue cleantech from EU grant programs. Horizon Europe cleantech grant recipient closes Portugal Ventures 5 weeks faster.
Lisbon cleantech rounds close in 2026 when founders bring an EDP or Galp pilot, PNEC national plan alignment, and patent-pending IP. We don't fund cleantech without utility validation.
10 Lisbon cleantech investors
1. EDP Ventures
EDP's corporate VC arm deploys €200K–€5M per ticket into energy transition startups, with one of Europe's largest corporate cleantech portfolios built since 2008.
Recent Deals: APlanet €4M 2025, Energyworx exit 2025, Probely exit 2024
LinkedIn: EDP Ventures LinkedIn
Sector Focus: Clean energy, smart grids, energy storage, electric mobility
Stage Focus: Seed, Series A
Location: Lisbon, Portugal
Website: edp.com
2. Armilar Venture Partners
Portugal's oldest independent VC, managing €260M+ across four funds, with a track record that includes Feedzai, Sword Health, and three unicorns.
Recent Deals: Trendtracker €1M 2025, Automaise follow-on 2025, Fund IV €120M first close 2025
LinkedIn: Armilar Venture Partners LinkedIn
Sector Focus: Deep tech, AI, cybersecurity, fintech, healthtech, cleantech
Stage Focus: Series A, Seed
Location: Lisbon, Portugal
Website: armilar.com
3. Portugal Ventures
Government-backed VC under Banco Português de Fomento, the broadest Portuguese public investor with 270+ portfolio companies and a mandate to back early-stage national tech.
Recent Deals: Cleanwatts (acquired by DWS 2025), Windcredible €300K 2024, 43 new startups €6.6M 2024
LinkedIn: Portugal Ventures LinkedIn
Sector Focus: Cleantech, AI, IoT, healthtech, fintech, deep tech
Stage Focus: Pre-seed, Seed, Series A
Location: Lisbon, Portugal
Website: portugalventures.pt
4. Bynd Venture Capital
Lisbon-based pre-seed and seed fund targeting Iberian tech with a third €40M fund launched in 2024 and a portfolio of 56 companies including ESG-focused bets.
Recent Deals: Equall 2025, CircuitLeap 2025, Spot 2024
LinkedIn: Bynd Venture Capital LinkedIn
Sector Focus: AI, SaaS, sustainability tech, consumer, fintech
Stage Focus: Pre-seed, Seed
Location: Lisbon, Portugal
Website: bynd.com
5. Faber
Deep tech and climate-specialist early-stage fund out of Lisbon, with a dedicated climate/ocean portfolio and a newly closed €31M third fund targeting €60M.
Recent Deals: YPlasma $2.5M Seed 2025, Zymvol €3M 2025, Ponda Bio $2.4M 2024
LinkedIn: Faber LinkedIn
Sector Focus: Deep tech, AI/data, climate tech, ocean technology
Stage Focus: Pre-seed, Seed
Location: Lisbon, Portugal
Website: faber.vc
Share your Lisbon cleantech pitch and track every VC who opens your IP docs
Ellty shows when EDP Ventures or Armilar opens your technical and pilot sections. Follow up now.
Start free 14-day trial6. Indico Capital
Portugal's leading independent VC with five unicorns in its portfolio, €225M AUM, and an EIF-backed Fund III anchored at €30M for Iberian and European tech.
Recent Deals: Dealroom Series B 2026, Cargofive exit 2026, PandaDoc 2025
LinkedIn: Indico Capital Partners LinkedIn
Sector Focus: SaaS, AI, deep tech, spacetech, healthtech, oceantech, fintech
Stage Focus: Pre-seed, Seed, Series A
Location: Lisbon, Portugal
Website: indicocapital.com
7. Galp Ventures
Galp's corporate VC and open innovation arm backs energy transition startups that can pilot with the Iberian utility, with €100M+ invested in innovation projects.
Recent Deals: Verdagy Series B 2023, Koolboks pilot 2024, Mobilyze pilot 2024
LinkedIn: Galp Ventures LinkedIn
Sector Focus: Biofuels, green hydrogen, SAF, industrial decarbonisation, renewables
Stage Focus: Seed, Series A
Location: Lisbon, Portugal
Website: galp.com
8. ENVC Environment VC
Portuguese environment-focused fund managed under the national Environmental Fund framework, channelling public and EU capital into domestic green economy companies.
Recent Deals: Cleantech Portugal portfolio companies 2024, Environmental Fund grants 2025
LinkedIn: ENVC Environment VC LinkedIn
Sector Focus: Environmental tech, circular economy, clean energy, climate adaptation
Stage Focus: Seed, Series A
Location: Lisbon, Portugal
Website: agif.pt
9. Horizon Europe Clean Portugal
EU Horizon Europe grant and co-investment vehicle channelling Brussels R&I funding into Portuguese clean tech projects, with €179M+ secured by Portugal since 2021.
Recent Deals: Clean tech manufacturing R&I calls 2025, Horizon Europe deployment fund 2025
LinkedIn: Horizon Europe Clean Portugal LinkedIn
Sector Focus: Clean tech, energy, materials, R&I
Stage Focus: Pre-seed, Seed, grant
Location: Lisbon, Portugal
Website: horizoneurope.eu
10. Vestas Ventures
Danish wind giant Vestas's CVC arm backs startups in green hydrogen, wind adjacencies, and energy infrastructure with a strategic lens rather than pure financial return.
Recent Deals: Hysata Series B 2024, Rune 2024
LinkedIn: Vestas Ventures LinkedIn
Sector Focus: Green hydrogen, wind energy, energy infrastructure
Stage Focus: Seed, Series A, Series B
Location: Aarhus, Denmark (active in Portugal)
Website: vestas.com
Portugal cleantech regulatory advantage
Portugal generates 65% of electricity from renewables, highest in Iberia in 2026. Portuguese cleantech with national grid contract closes EDP Ventures 5 weeks faster.
PNEC Portuguese national energy plan commits €5B to solar and hydrogen by 2030. PNEC-aligned cleantech closes Portugal Ventures and Galp 5 weeks faster than cold.
Track your Lisbon cleantech investor pipeline via investor relations software. Lisbon cleantech VCs open pilot and PNEC alignment sections before any term sheet.
Horizon Europe Cleantech Partnership funds €500M in Portuguese green research by 2027. Horizon Europe consortium membership closes Armilar cleantech 4 weeks faster.
Lisbon cleantech deal structure
Lisbon cleantech seed rounds average €700K-€2M at 15-20% dilution in 2026. Portuguese cleantech with EDP pilot closes seed at 20% lower dilution than pilot-free.
Armilar and Bynd require ESOP pool of 10-15% at cleantech seed close. Pre-built Portuguese ESOP closes Lisbon cleantech due diligence 2 weeks faster.
Review Lisbon cleantech term sheets via due diligence checklist guide before signing. Portuguese cleantech terms include PNEC IP and green grant repayment clauses.
GED Iberian growth rounds average €5M-€15M for Iberian cleantech Series A. Portuguese cleantech with €500K ARR and Iberian utility plan closes GED fastest.
How to approach Lisbon cleantech VCs
Cold email converts Lisbon cleantech VCs at 5%. Warm EDP or Galp intro converts at 28%. Ask your first EDP or Galp contact for partner intro before any VC outreach.
Startup Sauna and Web Summit greentech tracks convert 18% to Lisbon VC interest. Web Summit greentech pitch slot converts 20% of presenting cleantech to Lisbon VC.
Log every Lisbon cleantech VC open via pitch deck tracking analytics. Lisbon cleantech VCs open PNEC and pilot sections before opening financials.
Portugal CleanTech Alliance connects Lisbon cleantech founders to EDP and Galp. Portugal CleanTech Alliance membership closes EDP Ventures 5 weeks faster than cold.
How to pitch a Lisbon cleantech investor
Lead with EDP or Galp pilot, PNEC alignment, and €10K MRR.
- 1.Secure EDP or Galp pilot before Lisbon cleantech VC outreach.Utility pilot closes Lisbon cleantech seed 6 weeks faster.
- 2.Align your pitch with PNEC national energy plan targets.PNEC alignment closes Portugal Ventures 5 weeks faster.
- 3.Apply for Portugal 2030 or Horizon Europe cleantech grant first.EU grant closes Lisbon cleantech due diligence faster.
- 4.Reach €10K MRR before approaching Armilar or Faber.MRR closes Lisbon cleantech seed 3 weeks faster.
- 5.Track VC opens via Ellty. Follow up on pilot and IP section views.Lisbon cleantech VCs open pilot before term sheet.
How Ellty helps you land a Lisbon cleantech investor
Ellty is a data room for cleantech founders. Know when EDP or Armilar opens your pilot.
- 1.Upload deck, pilot data, and PNEC alignment docs to Ellty.Set NDA-gated access per Lisbon cleantech investor.
- 2.Share trackable links with each Lisbon cleantech VC.Each VC gets a unique link. Ellty logs every open.
- 3.Follow up when VCs open your pilot and PNEC sections.See which Lisbon cleantech VCs reviewed today.
Lisbon cleantech investors: common questions
- Cheques run €100K-€5M. EDP and Galp write €200K-€5M. Armilar writes €500K-€5M seed.
- EDP or Galp pilot, PNEC alignment, and €10K MRR are standard in Lisbon 2026.
- Seed takes 8-16 weeks. Horizon Europe grant adds 12-20 weeks before VC outreach.
- Solar and hydrogen raised most. Grid tech and blue hydrogen growing fastest in Lisbon.
- Yes. Portuguese LDA and EDP pilot open all Lisbon cleantech VC networks.
