Lince Capital
Lince Capital is a CMVM-regulated Portuguese VC and PE firm managing €550M+ across 14 funds. It finances domestic SMEs and startups through funds tied to Golden Visa and SIFIDE incentives, with a portfolio of 50+ companies including two unicorns.
- Company typePrivate
- Founded2016
- HeadquartersLisbon, Portugal
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Lince Capital does
Lince Capital, SCR, S.A. is a Portuguese independent venture capital and private equity management firm founded in 2016 and headquartered in Lisbon. The firm is registered and regulated by the Portuguese Securities Market Commission (CMVM) under license PT.135.267, and in January 2025 became one of only eight Portuguese VC managers to achieve "Sociedade de Grande Dimensão" (Large-Scale Society) status. As of early 2025, the firm manages more than €550 million in capital across 14+ funds, serving 1,600+ investors from over 50 nationalities with a team of 30+ professionals.
The firm operates a multi-strategy fund platform targeting Portuguese SMEs and startups across sectors including real estate, healthcare, technology, retail, and industrial. Core products include the Lince Innovation Fund series (€146M in Fund III, €64.6M in Fund IV, €36M in Fund V) focused on R&D companies eligible for SIFIDE tax benefits, Lince Growth Fund I (€23M) targeting industrial and circular-economy SMEs, Lince Yield Fund (€20M) focused on mature and stable businesses, and the Navigator Funds (€40M in Navigator II) targeting real estate and hospitality assets. Investment tickets range from €250k to €5M for venture capital and €1M to €5M for private equity/growth. The portfolio comprises 50+ companies and includes two unicorns — Feedzai ($2B+ valuation) and Sword Health ($4B valuation) — with 60+ successful portfolio acquisitions recorded.
Lince Capital generates revenue through two primary streams: recurring management fees on assets under management and performance-based carried interest on fund returns. Distribution is primarily direct via the firm's website and content marketing, supplemented by a partnership with Omnium Advisory Partners for corporate finance services, the annual Lince After Summit ecosystem event, and the 5G Open Innovation Program with Vodafone Boost Lab, Beta-i, Capgemini, and Ericsson. The firm explicitly monetizes Portugal's Golden Visa residency program (€500,000 minimum fund subscription) and the SIFIDE fiscal incentive system (32.5% IRC deduction on R&D expenses) as investor acquisition channels, targeting non-EU/Schengen investors and R&D-active corporates respectively. There is no proprietary technology product or app; the offering is a fund management and intermediation service.
Lince Capital firmographics
Firmographics- Name
- Lince Capital
- Legal name
- Lince Capital, SCR, S.A.
- Website
- https://lince-capital.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Lince Capital is a CMVM-regulated Portuguese VC and PE firm managing €550M+ across 14 funds. It finances domestic SMEs and startups through funds tied to Golden Visa and SIFIDE incentives, with a portfolio of 50+ companies including two unicorns.
- Ownership category
- akta.pro rank
Lince Capital industry classification
Industry- Product category
- Venture Capital and Private Equity Fund Management
- NAICS
- Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)
- akta.pro secondary industry
- Real Estate Funds — Core-Plus (FSANAEAG)
Keywords
Where Lince Capital is headquartered
LocationHeadquarters
- HQ city
- Lisbon
- HQ country
- Portugal
- HQ region
- Europe
Offices1 record
Markets served
Lince Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Fund Management Fees: Lince Capital generates revenue through management fees charged on funds under management. As a regulated VC/PE manager registered with CMVM (license PT.135.267), they charge fees for managing venture capital and specialized investment funds.
- Carried Interest: Performance-based carried interest from successful fund investments and exits. Funds include Lince Innovation Fund (€146M subscribed), Navigator funds, and various growth and yield funds.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Golden Visa Fund Investment |
| Subscription | Multi-year contract | Lince Yield Fund |
| Subscription | Multi-year contract | Lince Growth Fund I |
| Subscription | Multi-year contract | Lince Innovation Fund III |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Lince Capital product offering
Product offeringCore offering
Lince Capital is a regulated venture capital and private equity management firm that constitutes and manages investment funds targeting Portuguese startups and SMEs across sectors such as real estate, healthcare, technology, retail, and industrial. The firm provides active portfolio management support, including technical, financial, administrative, and commercial studies, to portfolio companies with investment tickets ranging from €250k to €5M. Its fund vehicles also offer investors access to Portuguese Golden Visa residency and SIFIDE R&D tax incentive benefits.
Product overview
Lince Capital is an independent venture capital and private equity firm (SCR, S.A.) regulated by CMVM, offering investment fund management services. The company operates multiple specialized funds including the Lince Innovation Fund (focused on R&D companies in Health, Technology, and Industrial sectors), Lince Growth Fund I (targeting high-growth SMEs in industrial and circular economy sectors), Lince Yield Fund (investing in mature, stable SMEs), and Navigator Funds (focused on real estate and hospitality assets). The firm also provides access to Golden Visa Portugal residency programs and SIFIDE fiscal incentive benefits for R&D investments. The funds collectively manage over €550 million across approximately 1,600 investors from 50 nationalities.
Differentiator
Problem solved
Functional benefit
Products and services
- Lince Innovation Fund Venture capital fund investing in Portuguese companies with a strong focus on Innovation and R&D, covering sectors including Health, Technology, and Industrial. Investment tickets of €250k to €5M; eligible for SIFIDE tax benefits.
- Lince Growth Fund I Venture capital fund investing in Portuguese SMEs with high growth potential, focusing on the industrial sector and circular economy. Tickets of €1M to €5M for SMEs with mature/stable businesses.
- Lince Yield Fund Venture capital fund investing in mature and stable Portuguese SMEs with strong financial position, prioritizing investment structures that mitigate risk and ensure regular distributions. Investment tickets of €1M to €5M.
- Navigator Fund Private equity investment fund focused on development and management of assets in office, co-working, tourist accommodation, restaurant, and health segments.
- Navigator II Fund Real estate investment fund supporting opportunities with high growth potential in the real estate sector.
- Venture Capital Fund Fund focused on investing in startups with high growth potential, managed with active support from the Lince Capital investment team.
Quantifiable outcome
- Portfolio companies have achieved unicorn status (Feedzai at $2B+ valuation, Sword Health at $4B valuation)
- +2 more outcomes
Companies that use Lince Capital
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Lince Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Lince Capital partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship.
- Vodafone Boost LabflagshipLince Capital participates in the 5G Open Innovation Program powered by Vodafone Boost Lab in partnership with Beta-i, promoted by Capgemini and Ericsson. The program explores collaboration opportunities with startups developing technology solutions with high market potential.
- Beta-iflagshipCollaborative innovation partner in the 5G Open Innovation Program with Lince Capital, Vodafone, Capgemini and Ericsson.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
Lince Capital competitors and assessment
Company assessmentDirect peers
- C2 Capital: Portuguese venture capital and growth investor. Direct peer — partnered with Lince Capital in Lyzer's €10M+ funding round for logistics platform international expansion.
- Iberis Capital: Portuguese venture capital firm focused on technology and innovation investments. Direct peer — co-invested with Lince Capital in Pulsely's €1.25M seed round and operates in the same Portuguese early-stage ecosystem.
- Beta Capital: Portuguese venture capital firm investing in early-stage Portuguese companies. Direct peer — co-invested with Lince Capital in Zen8's €1.4M seed round and targets the same Portuguese startup market.
- Shilling Capital Partners: Portuguese venture capital firm investing in seed and early-stage companies. Direct peer — co-led the €1.8M Cargofive seed round alongside Lince Capital and competes for similar Portuguese technology deals.
- Indico Capital Partners: Portuguese venture capital firm focused on early-stage and growth investments in technology companies. Direct peer to Lince Capital — co-led the €6M OSCAR pre-Series A round and competes for the same Portuguese founder-led deal flow.
Emerging players
- Lx Launch: Lisbon-based early-stage investor backing Portuguese and European startups. Emerging peer — co-invested in Zen8's €1.4M seed round alongside Lince Capital and operates in the same Lisbon seed-stage market.
- Failup Ventures: Emerging Portuguese early-stage venture capital investor. Emerging peer — co-invested in OSCAR's €6M pre-Series A round alongside Lince Capital, focusing on similar early-stage Portuguese opportunities.
- Boost Capital Partners: Portuguese venture capital investor active in early-stage deals. Emerging peer — co-invested in OSCAR's €6M pre-Series A round with Lince Capital and operates in the same Portuguese seed/Series A ecosystem.
Broad incumbents
- Caixa Capital: Portuguese venture capital arm of Caixa Geral de Depósitos managing multiple VC/PE funds across sectors. Broad incumbent — operates at larger scale with broader sector mandate and longer fund history, but competes for many of the same Portuguese growth and innovation deals.
- Sonae IM: Corporate venture capital arm of Portuguese conglomerate Sonae investing in technology companies across Iberia and internationally. Broad incumbent — operates at significantly larger scale with international scope and competes for growth-stage Portuguese technology deals.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks4 records
Key highlights6 records
Customer concentration
Lince Capital compliance and trust
Trust signalCompliance1 record
Lince Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lince Capital leadership team
Management profileNumber of profiles
Profiles10 records
Lince Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lince Capital M&A and investment
M&A and investmentM&A
Investments58 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lince Capital
What does Lince Capital do?
Lince Capital is a regulated venture capital and private equity management firm that constitutes and manages investment funds targeting Portuguese startups and SMEs across sectors such as real estate, healthcare, technology, retail, and industrial. The firm provides active portfolio management support, including technical, financial, administrative, and commercial studies, to portfolio companies with investment tickets ranging from €250k to €5M. Its fund vehicles also offer investors access to Portuguese Golden Visa residency and SIFIDE R&D tax incentive benefits.
Is Lince Capital a public or private company?
Lince Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Lince Capital founded?
Lince Capital was founded in 2016. It employs 11 to 50 people.
Where is Lince Capital based?
Lince Capital is headquartered in Lisbon, Portugal, in the Europe region.
How does Lince Capital make money?
Two revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest.
Who are Lince Capital's main competitors?
Direct peers on record are C2 Capital, Iberis Capital, Beta Capital, Shilling Capital Partners and Indico Capital Partners. Emerging players are Lx Launch, Failup Ventures and Boost Capital Partners. Broad incumbents are Caixa Capital and Sonae IM.
Does Lince Capital have an API?
No public API is recorded for Lince Capital.
What industry is Lince Capital in?
Lince Capital's product category is Venture Capital and Private Equity Fund Management. Its primary akta.pro industry code is BPAHAOAE, Equity Capital Advisory (Private Equity Placements, Growth Capital), with a secondary code of FSANAEAG, Real Estate Funds — Core-Plus. Its NAICS code is 52394 and its SIC code is 6282.