Corporate VCPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 8 SOURCES

Bright Pixel Capital

Tech investment arm of Sonae

Also known as Sonae IM, Sonae Investment Management

Tech investment arm of Sonae (formerly Sonae IM), based in Maia; invests in cybersecurity, retail technology and infrastructure software from seed to buy-outs.

HEADQUARTERS: Maia, Portugal
FOUNDED: —
AUM: —
OUTSIDE CAPITAL: No — own capital only
TEAM LISTED: 15 people

Focus

STAGES: SeedSeries AGrowthBuyout
SECTORS: Software & SaaS
GEOGRAPHY: —

Investment arms & vehicles

Bright Ventures
Bright Ventures Capital, SCR, S.A.; manages Bright Vector I (€6.4M, €3.2M public contribution via Banco Português de Fomento) and Bright Tech Innovation I (€30M)

Overview

Bright Pixel Capital (legal entity Sonae Investment Management – Software and Technology, SGPS, S.A., formerly Sonae IM) is the tech investment arm of the Sonae Group, based in Maia, Portugal. It states it invested over €250M in more than 50 direct investments in its first five years, and invests at seed and early stage, growth and buy-out. Its verticals are cybersecurity, retail technologies and infrastructure software, with portfolio companies also tagged business applications and emerging tech, headquartered across the US, Europe and Israel. Its affiliate Bright Ventures Capital, SCR manages two smaller funds, one with public co-funding from Banco Português de Fomento.

Investment thesis

Invest in companies with the potential to change an industry across cybersecurity, retail technologies and infrastructure software; financially driven, supporting companies from early stage to IPO.

PORTFOLIO (12)

Arctic WolfNOTABLE
Software & SaaS · since 2017
FeedzaiNOTABLE
Fintech · since 2016
OutSystemsNOTABLE
Software & SaaS · since 2016
Encord
Artificial Intelligence · since 2025
THEKER
Deep Tech · since 2026
Chamelio
Software & SaaS · since 2026
HiveMQ
Software & SaaS · since 2025
Sekoia.io
Software & SaaS · since 2023
Infraspeak
Software & SaaS · since 2023
Codacy
Software & SaaS · since 2022
Probely
Software & SaaS · since 2017 · Acquired (Snyk, 2024)
Ona
Software & SaaS · since 2025 · Acquired (OpenAI, 2026)

People

João Günther Amaral
Managing Partner & CEO · source
Cristina Novais
CFO · source
Fernando Martins
Director, Cyber · source
Marcos Osório
Director, Cyber · source
Manuel Queiroz
Director, Retail · source
Miguel Bagulho
Director, Retail · source
Benjamin Junior
Director, Infrastructure Software (Bright Ventures) · source
Filipa Costa
Director, Platform & Portfolio Management · source
Pedro Cunha
Director, Legal · source
Pedro Gomes
Director, Intelligence & Transformation · source
Mike Privette
Venture Partner, Cybersecurity · source
Daniela Coutinho
Principal, Cyber · source
Francisco Nunes
Principal, Retail · source
João Bandeira
Principal, Infrastructure Software · source
Carmo Silva
Manager, Retail · source

Frequently asked questions

Bright Pixel Capital is a corporate venture arm based in Maia, Portugal.

Yes. Bright Pixel Capital invests its own capital in private companies.

Bright Pixel Capital invests at Seed, Series A, Growth and Buyout stages in Software & SaaS.

Key people at Bright Pixel Capital include João Günther Amaral (Managing Partner & CEO), Cristina Novais (CFO), Fernando Martins (Director, Cyber) and Marcos Osório (Director, Cyber).

Bright Pixel Capital's investments include Arctic Wolf, Feedzai, OutSystems, Encord, THEKER, Chamelio, HiveMQ and Sekoia.io, among others.

The most recent publicly reported investment by Bright Pixel Capital is Chamelio (Series A ($26M round, participation)), announced in Sep 2026.

No. Bright Pixel Capital invests its own capital and does not raise money from outside investors.