C2 Capital Partners

Focus

STAGES

GrowthBuyout

SECTORS

Biotech & Life SciencesHealthTechIndustrial & ManufacturingConsumer & E-commerceReal Estate & PropTechFintechSoftware & SaaSClimate & Energy

ASSET MIX

Private equityReal estate

GEOGRAPHY

Portugal

Overview

C2 Capital Partners is an independent private equity manager based in Lisbon, founded in 2009 by its management team as Capital Criativo and registered with the CMVM since then; it is now organised as C2 Capital Partners – SGOIC, S.A. and presents itself as an affiliate of Gaw Capital Partners, which it describes as a real-estate-focused investment fund manager with offices in 15 locations including Hong Kong, Singapore, Tokyo and London. It runs two business lines with dedicated teams, Expansion Capital and Alternative Investments, through a series of CMVM-registered funds including C2 Growth I (2011), Revitalizar Sul (2013), C2 Growth III (2017), the C2 R&D Growth IV–XII funds (2018–2025), C2 MedCapital (2020), M4 Ventures PT I (2021), C2 Legacy Buyout (2024), C2 FIAE Real Estate & Tourism (2017) and two FIAM vehicles launched in 2025. Holdings listed on its site include Bluepharma and Bial (2023), Cork Supply and Simoldes (2021), Grestel and Pecol (2022), Nutrium, Paynest and Visor AI (2023) and Malo Clinic (2025), with Efapel (2022) divested in 2026; the firm is a member of IPCG and APCRI and a PRI signatory.

Investment thesis

Expansion capital for established Portuguese companies in pharma, healthcare, industry and consumer sectors, R&D-linked growth funds, a buyout fund (C2 Legacy Buyout) and alternative investments in real estate and tourism.

PORTFOLIO (12)

• BluepharmaNOTABLE
  Biotech & Life Sciences · since 2023
• BialNOTABLE
  Biotech & Life Sciences · since 2023
• Cork SupplyNOTABLE
  Industrial & Manufacturing · since 2021
• Simoldes
  Industrial & Manufacturing · since 2021
• Grestel
  Industrial & Manufacturing · since 2022
• Pecol
  Industrial & Manufacturing · since 2022
• Hospital de Loulé
  HealthTech · since 2022
• Nutrium
  HealthTech · since 2023
• Paynest
  Fintech · since 2023
• Visor AI
  Artificial Intelligence · since 2023
• Malo Clinic
  HealthTech · since 2025
• Efapel
  Industrial & Manufacturing · since 2022 · Exited (2026)

People

• Roman Nemtsov
  Chairman, Board Member · source
• André Oliveira
  Managing Partner, Board Member · source
• Rita Sacadura Orvalho
  Chief Legal and Compliance Officer, Board Member · source
• Mariana Cadete
  Chief Financial Officer, Board Member · source
• Beatriz Sousa Rocha
  Executive Director, Investments · source
• Manuel Almeida
  Executive Director, Compliance · source
• Ana Jorge
  Executive Director, Operations · source
• Jorge Santos
  Operating Partner, C2 MedCapital · source
• Simão Fezas Vital
  Operating Partner, C2 MedCapital · source
• Hugo Rua
  Operating Partner, C2 Energy Transition · source
• Nuno Martins
  Operating Partner, C2 Energy Transition · source
• André Pimentel
  Operating Partner, C2 Exitus · source
• Nuno Figueiredo
  Operating Partner, C2 Exitus · source
• Duarte Queiroz
  Operating Partner, C2 Invictus · source
• Eduardo Cruz
  Operating Partner, C2 Invictus · source
• Francisco Amaral
  Principal, Investor Relations · source

Links

• Website
• Official contact page
• LinkedIn

Frequently asked questions