
Armilar focuses on early‑stage digital startups with strong technology differentiation, seeking companies that leverage data, digitisation and connectivity to create large global markets. They prefer founders with deep technical expertise and a resilient mindset, aiming to back businesses with disruptive tech and significant valuation upside. Investments span seed through Series B, with a willingness to co‑lead or follow depending on the opportunity.
Industries
Industry breakdown
Top industries in the portfolio
Geography
Geographic scope
EuropeNorth America
Geography breakdown
Darker regions = more portfolio companies
Top 5 countries
Portugal
24.1%United States of America
20.7%United Kingdom
6.9%Canada
3.4%Germany
3.4%Other
13.6%Countries with a higher share of the portfolio are shaded darker on the map.
Stages
Stage indicator
Stage agnostic
Stage breakdown
Portfolio by stage
Portfolio vintage
Companies by founded year
Fund details
Funds
Fund IV
Vintage 2025 • $132.0M
Check sizes
Min: $220.0K
Typical: $2.2M
Max: $11.0M