Armilar Announces €120 Million First Close for New Deep Tech Fund
Lisbon-based Armilar Venture Partners has announced the first close of its Fund IV at €120 million , reinforcing its position as a leading early-stage investor in Southern Europe.
The fund will target deep tech and digital transformation ventures across Portugal, Spain, and broader Europe , backing startups developing core technologies in areas such as software, AI, cybersecurity, and industrial digitalisation.
Fund IV builds on Armilar’s two decades of experience investing in technology companies, following earlier funds that supported firms including Feedzai , Defined.ai , and CodavelDealroom has a profile for this one. Try Dealroom → . With this new vehicle, Armilar aims to help bridge the strong research and engineering base in the Iberian Peninsula with international growth capital and markets.
The fund’s backers include institutional and public investors, among them the European Investment Fund and the Spanish Society for Technological Transformation (SETT)Dealroom has a profile for this one. Try Dealroom → , which has committed €20 million. Additional capital comes from European funds, family offices, and returning limited partners.
Armilar plans to invest from seed to growth stages , focusing on companies with defensible intellectual property and scalable business models. The firm continues to emphasise long-term value creation through innovation that drives measurable impact across industries.
Founded in 2000, Armilar has grown from a national investor into a pan-European deep tech specialist , with offices in Lisbon and Porto and a growing presence in Spain. The firm expects a final close for Fund IV in 2026, with initial investments already being evaluated.
Sources:
Medium
EU Startups
Tech.eu
Tech Funding News
J.V.
