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VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 10 SOURCES

Critical Ventures

Also known as Critical Ventures – Sociedade de Capital de Risco, S.A., CVT

CMVM-authorised deep-tech VC (AIFM reg. 79568) whose founding partners run Critical Software; leads or co-leads seed to Series B, €500K–€3M cheques, worldwide.

HEADQUARTERS
Lisbon, Portugal
FOUNDED
—
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
SeedSeries ASeries B
SECTORS
Deep TechArtificial IntelligenceSoftware & SaaSHealthTechMobility & Logistics
ASSET MIX
Venture capitalDirect investments
GEOGRAPHY
Global

Overview

Critical Ventures – Sociedade de Capital de Risco, S.A. is an independently managed venture capital firm authorised by the CMVM as an alternative investment fund manager (reg. no. 79568), with locations in Lisbon and London. It grew out of the Critical Software ecosystem: founding partners João Carreira, Gonçalo Quadros and Pedro Murtinho, all Critical Software executives, have been partners since 2012. The firm leads or co-leads seed to Series B rounds worldwide with €500K–€3M cheques including follow-on, reserving two-thirds for follow-ons, in cybersecurity, AI governance, defence and dual-use, medical software, industrial IoT and mobility software. Its site reports two funds, seven active companies and seven exits, including Critical Manufacturing (acquired by ASMPT, 2018) and Watchful Software (acquired by Symantec, 2017).

Investment thesis

Invests in the critical-systems layer of deep tech: software for aerospace, defence, medical, industrial, energy and mobility where failure carries a real-world cost, favouring proprietary data, hardware/software co-design, regulatory certification and AI control-plane positioning.

PORTFOLIO (12)

  • RunSafe SecurityNOTABLE
    Software & SaaS · since 2024
  • Critical ManufacturingNOTABLE
    Software & SaaS · Acquired by ASMPT (2018)
  • Watchful SoftwareNOTABLE
    Software & SaaS · Acquired by Symantec (2017)
  • Humanos
    Artificial Intelligence · since 2026
  • Hackurity
    Software & SaaS · since 2025
  • Rhizome
    Artificial Intelligence · since 2025
  • Almetra
    Artificial Intelligence · since 2025
  • Kirontech
    HealthTech · since 2023
  • Twinzo
    Software & SaaS · since 2023
  • Coimbra Genomics
    HealthTech · Exited (2020)
  • Retmarker
    HealthTech · Exited (2020)
  • Critical Links
    Education · Exited

People

Links

Frequently asked questions

Critical Ventures is a VC fund based in Lisbon, Portugal.

Yes. Critical Ventures invests its own capital in private companies.

Critical Ventures invests at Seed, Series A and Series B stages in Deep Tech, Artificial Intelligence, Software & SaaS, HealthTech and Mobility & Logistics.

Critical Ventures's stated ticket size is €500K–€3M.

Key people at Critical Ventures include João Carreira (Managing Partner), Gonçalo Quadros (Partner), Pedro Murtinho (Partner) and Heitor Benfeito (Managing Director).

Critical Ventures's investments include RunSafe Security, Critical Manufacturing, Watchful Software, Humanos, Hackurity, Rhizome, Almetra and Kirontech, among others.

The most recent publicly reported investment by Critical Ventures is Humanos, announced in Sep 2026.

Critical Ventures states that it accepts submissions through its official contact page.

Yes. Critical Ventures manages capital from outside investors.