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Family HoldingPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 12 SOURCES

Semapa

Also known as Semapa – Sociedade de Investimento e Gestão, SGPS, S.A., Grupo Semapa, Semapa Group

Lisbon investment holding listed on Euronext Lisbon and controlled (81.8%) by the Queiroz Pereira family via Sodim. Holds The Navigator Company, ETSA, Triangle's, Imedexa, 50% of UTIS and Semapa Next.

USEFUL FOR Business owners seeking a long-term partner · Co-investors

Listed investment holding of the Queiroz Pereira family. Its venture arm Semapa Next has its own profile.

Family & background

FAMILY
Queiroz Pereira
WEALTH ORIGIN
Founded Semapa in 1991 (Pedro Queiroz Pereira, d. 2018); paper and pulp (The Navigator Company) and cement (Secil)
HEADQUARTERS
Lisbon, Portugal
FOUNDED
1991
OUTSIDE CAPITAL
No — own capital only

Investment approach

SECTORS
Industrial & ManufacturingClimate & EnergyMobility & LogisticsFood & Agriculture
GEOGRAPHY
PortugalEurope
STAGES
Buyout
ROUTES
Companies (own capital)
STRATEGIES
Direct investmentsVenture capital
TICKET
Up to €500M
LATEST DEAL
CarbonRe, Sybilion and Jupus (via Semapa Next) (New venture investments via Semapa Next, H1 2026 (reported 30 Jul 2026)) · Jul 2026

Overview

Semapa – Sociedade de Investimento e Gestão, SGPS, S.A. was incorporated in 1991, founded by the Queiroz Pereira family, and has been listed on Euronext Lisbon since 1995. It describes itself as an investment holding building a diversified portfolio: The Navigator Company (pulp, paper and tissue), ETSA (rendering), Triangle's (e-bike frames, 2023), Imedexa (metal structures for power grids, acquired July 2025 for €148M), UTIS (50/50 energy-efficiency joint venture) and the venture arm Semapa Next. It sold the cement maker Secil to Cementos Molins in March 2026 for an equity value of €1.081 billion and says it targets controlling or shared-control investments of up to €500M in Portuguese or European companies.

Investment thesis

Controlling or shared-control stakes (no purely financial minority stakes) of up to €500M in Portuguese or European companies with relevant market size, defensible competitive advantages, scale and export potential and a positive environmental and social contribution; sectors cited include sustainable packaging, energy transition and efficiency, sustainable fine chemistry and export-oriented industry.

Holdings & investments (6)

INVESTMENT ARMS & VEHICLES

  • Semapa Next
    Venture capital company created by Semapa in 2018 and 100% owned by it; invests in start-ups

HOLDINGS & INVESTMENTS · MOST RECENT FIRST

  • The Navigator CompanyNOTABLE
    Industrial & Manufacturing · since 2004
  • ImedexaNOTABLE
    Industrial & Manufacturing · since 2025
  • Triangle's
    Mobility & Logistics · since 2023
  • UTIS
    Climate & Energy · since 2021
  • ETSA
    Food & Agriculture · since 2008
  • Secil
    Industrial & Manufacturing · since 1994 · Exited

People

  • Tiago de Noronha
    Chief Investment Officer · source
  • José Fay
    Chairman of the Board of Directors · source
  • Ricardo Pires
    Chief Executive Officer · source
  • Hugo Pinto
    Chief Financial Officer · source
  • Joana Machado
    Chief Technology Officer · source
  • Filipa Queiroz Pereira
    Board Member · source
  • Mafalda Queiroz Pereira
    Board Member · source
  • Lua Queiroz Pereira
    Board Member · source

Frequently asked questions

Semapa is a family holding based in Lisbon, Portugal, founded in 1991.

Semapa invests on behalf of the Queiroz Pereira family (Founded Semapa in 1991 (Pedro Queiroz Pereira, d. 2018); paper and pulp (The Navigator Company) and cement (Secil)).

Semapa invests its own capital into companies. Its stated asset mix includes direct investments and venture capital.

Semapa invests at Buyout stage in Industrial & Manufacturing, Climate & Energy, Mobility & Logistics and Food & Agriculture.

Semapa's stated ticket size is Up to €500M.

Key people at Semapa include José Fay (Chairman of the Board of Directors), Ricardo Pires (Chief Executive Officer), Hugo Pinto (Chief Financial Officer) and Tiago de Noronha (Chief Investment Officer).

Semapa's holdings and investments include The Navigator Company, Imedexa, ETSA, Triangle's, UTIS and Secil.

The most recent publicly reported investment by Semapa is CarbonRe, Sybilion and Jupus (via Semapa Next) (New venture investments via Semapa Next, H1 2026 (reported 30 Jul 2026)), announced in Jul 2026.

No. Semapa invests its own capital and does not raise money from outside investors.