What Vallis Capital Partners does

Vallis Capital Partners, S.A. is an independent Portuguese private equity investment advisor founded in 2010 and headquartered in Porto. The firm manages two closed-end sustainable investment funds: Vallis Sustainable Investments I (€75M, launched 2011, currently in divestment phase) and Vallis Sustainable Investments II (€151M target, launched 2019, currently in investment phase), together representing over €200M in assets under management. Vallis invests in Iberian PMEs and Small Mid-Caps — primarily in Portugal and Spain — across healthcare, food value chain, industry, technology, and energy & environment sectors, with typical equity tickets of €10-30M that can scale higher via co-investment partners such as Hermes GPE.

The firm takes majority or dominant influence positions, partnering with management teams for growth capital, MBOs, MBIs, and LBOs. Its underlying technology is a private equity investment management platform complemented by ESG data tracking and responsible investment monitoring tools. Vallis was the first Portuguese asset management company to sign the UN Principles for Responsible Investment in 2015, applies a negative ESG screening filter across its investments, and has Fund II qualified as an SFDR Article 8 product. Revenue is generated through management fees on assets under management and carried interest from successful exits; the current portfolio includes Smile.up (77 dental clinics), Saúde Viável/Insparya (hair transplantation), Logifrio/Zolve (temperature-controlled logistics), Europalco (event production), Docout (Spanish BPO/document management), and Raclac (disposable gloves), with prior exits including Castelbel, Imperial, Vortal, Solana Fruits, and CGC Genetics.

Vallis is wholly owned by its three founding partners (Eduardo Rocha, Luís Santos Carvalho, and Luís Palma da Graça) and operates with a small team of 1-10 employees, supported by EU institutional capital from the European Investment Fund and Banco Português de Fomento.

Name

Vallis Capital Partners

Legal name

Vallis Capital Partners, S.A.

Website

https://vallis.pt

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Vallis Capital Partners is an independent Portuguese private equity firm managing over €200M across two sustainable investment funds. It invests €10-30M in Iberian SMEs and Small Mid-Caps in healthcare, food, technology, industry, and energy sectors under ESG-driven criteria.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-PE / Lower Middle Market ETA Funds (FSANALAG)

Keywords

• Private equity management
• Venture capital funds
• Iberian SME investment
• Sustainable investing
• Growth capital advisory

Headquarters

HQ city

Porto

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management fees and carried interest from fund management: Vallis Capital Partners generates revenue through management fees charged on assets under management and carried interest (performance fees) from successful fund exits, typical of the private equity asset class.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Vallis Capital Partners is an independent private equity investment advisor managing two closed-end sustainable investment funds (Vallis Sustainable Investments I and II) that deploy equity capital into Iberian PMEs and Small Mid-Caps, taking majority or controlling positions with active board involvement in companies across healthcare, food value chain, industry, technology, and energy & environment sectors. The firm earns revenue through management fees on assets under management and carried interest from successful exits.

Product overview

Vallis Capital Partners is an independent Investment Advisor for Private Equity Funds, managing two closed-end venture capital funds: Vallis Sustainable Investments I (75M€, launched 2011, in divestment phase) and Vallis Sustainable Investments II (151M€, launched 2019, in investment phase). Both funds invest in Portuguese and Spanish SMEs with high growth potential, focused on sectors including Healthcare, Food Value Chain, Technology, Industry, and Energy & Environment, guided by ESG principles. The current portfolio includes Smile.up (dental clinics), ARKA (disposable medical products), Saúde Viável/Insparya (hair transplantation clinics), Zolve (temperature-controlled logistics), Europalco (event production), Docout (document management/BPO), and Raclac (disposable medical devices/R-Advance Gloves). Prior exits include Castelbel, Imperial, Vortal, Solana Fruits, and CGC Genetics.

Differentiator

Problem solved

Functional benefit

Products and services

• Vallis Sustainable Investments I, S.C.A., SICAR First closed-end private equity/venture capital fund managed by Vallis Capital Partners, focused on Iberian SMEs in healthcare, food value chain, industry, technology, and energy & environment sectors; now in the divestment phase after a decade of active investing.
• Vallis Sustainable Investments II, Fundo de Capital de Risco Fechado Second closed-end private equity/venture capital fund managed by Vallis Capital Partners, focused on growth capital, MBOs, MBIs, and LBOs in Iberian PMEs and Small Mid-Caps with sustainable development alignment; qualifies as an EU SFDR Article 8 product.
• Independent Private Equity Investment Advisory Services Independent investment advisory and fund management services covering ESG-screened deal sourcing, transaction execution, active portfolio management, and exit planning for Iberian SMEs and Small Mid-Caps, delivered on behalf of Limited Partners of Vallis Sustainable Investments I and II.

Quantifiable outcome

• 1,600 direct jobs across portfolio companies; 460 jobs created post-investment
• +2 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Docout Management TeamcoreStrategic or Co-development Partner · 10 January 2024VSI II acquired Docout in partnership with its existing management team, led by CEO Rafael Bouvier Martin and Miguel Angel del Valle. The management team continues to lead operations, with Vallis providing capital and strategic support for growth in the Iberian market.
• Lincoln InternationalminorChannel Partner/ Reseller/ DistributorInvestment bank appointed by Vallis to advise on the sale process of Smile.up – Clínicas Dentárias (dental clinic chain with 77 clinics in Portugal). Lincoln International is providing M&A advisory services for the exit.
• Pérez-LlorcaminorImplementation/ SI/ Consulting PartnerLaw firm Pérez-Llorca advised the EMC-B fund on the sale of Docout to Vallis Capital Partners, providing legal counsel during the transaction process.
• United Nations Principles for Responsible Investment (UN PRI)coreOthersVallis Capital Partners became the first Portuguese asset management company to sign the UN PRI in 2015. This commits the firm to incorporating ESG issues into investment analysis, active ownership, and disclosure across its funds.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• MCH Private Equity: Spanish private equity firm focused on Iberian mid-market buyouts and growth capital. Highly comparable to Vallis in target deal size, Iberian geographic focus, and lower-mid-market strategy, though with a longer track record.
• Portobello Capital: Spanish private equity firm investing in Iberian mid-market companies across multiple sectors. Directly comparable to Vallis in Iberian focus and SME/Small Mid-Cap strategy, typically with larger fund vintages and broader sector coverage.
• Corpfin Capital: Spanish mid-market PE firm focused on Iberian SMEs and Small Mid-Caps. Closely comparable to Vallis in target deal size, Iberian geography, and active operational value-creation approach.
• GED Capital: Iberian-focused private equity and alternative asset manager. Comparable to Vallis in Iberian SME lower-mid-market focus, though operating across multiple fund strategies including buyout, growth, and mezzanine.
• Hermes GPE: UK-based private equity firm managing ~$6B focused on fund investments and co-investments in buyouts and growth businesses. Directly comparable through its co-investment partnership with Vallis in Insparya/Saúde Viável and similar European mid-market thesis.
• Abac Capital: Iberian lower-mid-market private equity firm. Comparable to Vallis in Iberian SME focus, smaller fund size strategy, and active operational value-creation approach in Spanish and Portuguese markets.
• Magnum Industrial Partners: Spanish private equity firm specializing in Iberian industrial mid-market transactions. Comparable to Vallis in Iberian mid-market focus and SME strategy, with a stronger industrial-sector tilt.

Broad incumbents

• Stirling Square Capital Partners: European mid-market private equity firm with broader Pan-European mandate. Comparable to Vallis through their 2020 acquisition of Vallis portfolio company Vortal, indicating overlap in European mid-market software/services deal universe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/940766

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vallis Capital Partners