Armilar Secures €120M for DeepTech Across Iberia and Europe
November 6, 2025, 9:36 am
Armilar, a Lisbon-based VC firm, successfully closed its €120 million Fund IV. The fund targets DeepTech and digital transformation ventures, focusing on Series A B2B startups across Portugal, Spain, and wider Europe. Prominent investors like the European Investment Fund and SETT back the initiative. This capital will fuel innovation in critical sectors: AI, cybersecurity, FinTech, and SpaceTech. Armilar aims to build a 20-company portfolio, intending to double the fund's size by late 2026. This achievement arrives amidst a difficult global venture capital fundraising environment, highlighting strong investor confidence in Iberian and European tech ecosystems and Armilar's strategic vision.
Armilar, a prominent Lisbon-based venture capital firm, recently announced the initial closing of its fourth flagship fund. Fund IV secured over €120 million. This significant capital influx targets disruptive technologies. It focuses on Spain, Portugal, and the broader European market. This move underscores a strong commitment to the continent's burgeoning tech landscape.
The new fund represents a critical step for Armilar. It expands the firm’s Series A investment platform. It aims to support exceptional founders. These founders work to validate and scale their advanced technologies. The firm observes significant innovation across Europe. The Iberian Peninsula shows particular promise. The goal is to propel these companies onto the global stage.
Armilar's investment thesis is sharply defined. It targets the intersection of digital technologies and applied science. The fund backs B2B startups. These companies possess high technological content. They solve critical business problems. Their solutions span a wide array of industries.
Key sectors for investment include artificial intelligence and cybersecurity. Software development and infrastructure computing are also targets. Digitalization and automation remain vital. FinTech and HealthTech receive attention. Emerging areas like SpaceTech and dual-use technologies are also within scope. This broad yet focused approach seeks high-impact innovation.
Institutional investors form the fund’s robust base. The European Investment Fund (EIF) is a major contributor. The Sociedad Española para la Transformación Tecnológica (SETT) also invested. SETT’s NextTech instrument specifically targets technological innovation in Spain. These commitments signal strong confidence in Armilar’s strategy. They also reflect belief in the potential of European DeepTech.
The firm plans to cultivate a portfolio of approximately 20 companies. This long-term strategy supports sustainable growth. It aims to identify and nurture future industry leaders. The entrepreneurial ecosystem in Iberia offers a growing opportunity. World-class talent resides there. Rising R&D intensity fuels progress. Increasing institutional support provides a robust foundation. These factors combine to create fertile ground for new ventures.
Armilar’s history spans over two decades. Founded in 2000, it manages assets exceeding €500 million. The firm has a proven track record. It supported companies like OutSystems and Feedzai. Both achieved global leadership from their early stages. This history of success underpins investor trust in Fund IV.
The current venture capital landscape is challenging. Recent years saw a liquidity shortage. IPOs were few. M&A activity remained subdued. This led to lower investment levels in new VC funds. Industry data suggests 2025 might see the lowest VC fundraising in over five years, especially in Europe.
Against this backdrop, Armilar’s successful fund closure is notable. It demonstrates exceptional resilience. It also highlights the firm’s strategic positioning. It closed a new fund precisely when new opportunities are abundant. Meanwhile, overall investment capacity has shrunk. This confluence creates a unique environment for value creation.
Armilar maintains a strong focus on Iberia. The firm has already engaged with many founding teams. It actively analyzes several startups for its 2025 investment pipeline. This proactive approach ensures a steady flow of high-quality deal opportunities.
Fundraising for Armilar IV will continue. The firm aims to double the fund’s size. The target is to reach this milestone by the end of 2026. This ambitious goal reflects strong market demand and investor interest. It promises even greater impact on the tech ecosystem.
In Spain, Armilar collaborates with CaixaBank. This partnership aims to increase commitments from Spanish institutional limited partners. The focus is on attracting professional investors. Industrial groups, corporate venture units, funds of funds, and family offices are targeted. This outreach extends across Spain and broader Europe. Such collaborations are vital for capital aggregation and market penetration.
This new fund aligns with increased activity across Europe’s high-technology ecosystem. Spain and Portugal, in particular, show strong momentum. Venture investment and innovation are surging. Armilar aims to capitalize on this momentum. It will further accelerate the growth of the region's most promising DeepTech companies.
Armilar Fund IV signifies more than just capital. It represents continued belief in technological advancement. It supports the innovators who drive progress. It empowers startups addressing global challenges. The fund solidifies Armilar’s position as a key player in European venture capital. It shapes the future of technology across the continent.
Armilar, a prominent Lisbon-based venture capital firm, recently announced the initial closing of its fourth flagship fund. Fund IV secured over €120 million. This significant capital influx targets disruptive technologies. It focuses on Spain, Portugal, and the broader European market. This move underscores a strong commitment to the continent's burgeoning tech landscape.
The new fund represents a critical step for Armilar. It expands the firm’s Series A investment platform. It aims to support exceptional founders. These founders work to validate and scale their advanced technologies. The firm observes significant innovation across Europe. The Iberian Peninsula shows particular promise. The goal is to propel these companies onto the global stage.
Armilar's investment thesis is sharply defined. It targets the intersection of digital technologies and applied science. The fund backs B2B startups. These companies possess high technological content. They solve critical business problems. Their solutions span a wide array of industries.
Key sectors for investment include artificial intelligence and cybersecurity. Software development and infrastructure computing are also targets. Digitalization and automation remain vital. FinTech and HealthTech receive attention. Emerging areas like SpaceTech and dual-use technologies are also within scope. This broad yet focused approach seeks high-impact innovation.
Institutional investors form the fund’s robust base. The European Investment Fund (EIF) is a major contributor. The Sociedad Española para la Transformación Tecnológica (SETT) also invested. SETT’s NextTech instrument specifically targets technological innovation in Spain. These commitments signal strong confidence in Armilar’s strategy. They also reflect belief in the potential of European DeepTech.
The firm plans to cultivate a portfolio of approximately 20 companies. This long-term strategy supports sustainable growth. It aims to identify and nurture future industry leaders. The entrepreneurial ecosystem in Iberia offers a growing opportunity. World-class talent resides there. Rising R&D intensity fuels progress. Increasing institutional support provides a robust foundation. These factors combine to create fertile ground for new ventures.
Armilar’s history spans over two decades. Founded in 2000, it manages assets exceeding €500 million. The firm has a proven track record. It supported companies like OutSystems and Feedzai. Both achieved global leadership from their early stages. This history of success underpins investor trust in Fund IV.
The current venture capital landscape is challenging. Recent years saw a liquidity shortage. IPOs were few. M&A activity remained subdued. This led to lower investment levels in new VC funds. Industry data suggests 2025 might see the lowest VC fundraising in over five years, especially in Europe.
Against this backdrop, Armilar’s successful fund closure is notable. It demonstrates exceptional resilience. It also highlights the firm’s strategic positioning. It closed a new fund precisely when new opportunities are abundant. Meanwhile, overall investment capacity has shrunk. This confluence creates a unique environment for value creation.
Armilar maintains a strong focus on Iberia. The firm has already engaged with many founding teams. It actively analyzes several startups for its 2025 investment pipeline. This proactive approach ensures a steady flow of high-quality deal opportunities.
Fundraising for Armilar IV will continue. The firm aims to double the fund’s size. The target is to reach this milestone by the end of 2026. This ambitious goal reflects strong market demand and investor interest. It promises even greater impact on the tech ecosystem.
In Spain, Armilar collaborates with CaixaBank. This partnership aims to increase commitments from Spanish institutional limited partners. The focus is on attracting professional investors. Industrial groups, corporate venture units, funds of funds, and family offices are targeted. This outreach extends across Spain and broader Europe. Such collaborations are vital for capital aggregation and market penetration.
This new fund aligns with increased activity across Europe’s high-technology ecosystem. Spain and Portugal, in particular, show strong momentum. Venture investment and innovation are surging. Armilar aims to capitalize on this momentum. It will further accelerate the growth of the region's most promising DeepTech companies.
Armilar Fund IV signifies more than just capital. It represents continued belief in technological advancement. It supports the innovators who drive progress. It empowers startups addressing global challenges. The fund solidifies Armilar’s position as a key player in European venture capital. It shapes the future of technology across the continent.