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VC FundPuts its own capital into companiesLAST VERIFIED Oct 2026 · 21 SOURCES

MAZE Impact

Also known as maze, Maze Impact SA

Portuguese impact investment firm (2013) and B Corp. Its €45M MSM fund invests €100K–€1M first tickets at pre-seed and seed across Europe; also runs maze x and impact advisory.

HEADQUARTERS
Lisbon, Portugal
FOUNDED
2013
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
8 people

Focus

STAGES
Pre-SeedSeed
SECTORS
Climate & EnergyDeep TechHealthTechEducation
ASSET MIX
Venture capitalImpactReal estate
GEOGRAPHY
Europe

Investment arms & vehicles

Overview

maze (Maze Impact SA) is a Portuguese impact investment firm founded in October 2013 and a certified B Corp (recertified in 2025). It works across venture capital, impact advisory and growth programmes,. Its MSM fund (€45M) invests at pre-seed and seed with first tickets of €100K to €1M; the maze x programme invested €100K per team through a SAFE. Since its first fund launched in November 2019 it reported 47 impact ventures backed and around €35M deployed (April 2025), and in 2025 it announced a €40M real-estate fund to buy 200 homes in Lisbon for Housing First programmes.

Investment thesis

Invests in companies whose driver of revenue is the driver of positive social and environmental outcomes, with a focus on science-based ventures at pre-seed; MSM uses impact-linked remuneration.

PORTFOLIO (10)

People

  • António Miguel
    Managing Partner · source
  • Margarida Anselmo
    Partner · source
  • Rita Casimiro
    Partner · source
  • Sofia Queiroz
    Partner Maze VC Fund · source
  • Cristina Almeida
    Venture Partner · source
  • Rui Bento
    Venture Partner · source
  • Amanda Feldman
    Impact Advisor · source
  • Rita Brito e Faro
    Manager · source

Links

Frequently asked questions

MAZE Impact is a VC fund based in Lisbon, Portugal, founded in 2013.

Yes. MAZE Impact invests its own capital in private companies.

MAZE Impact invests at Pre-Seed and Seed stages in Climate & Energy, Deep Tech, HealthTech and Education.

MAZE Impact's stated ticket size is €100K–€1M.

Key people at MAZE Impact include António Miguel (Managing Partner), Margarida Anselmo (Partner), Rita Casimiro (Partner) and Sofia Queiroz (Partner Maze VC Fund).

MAZE Impact's investments include Kitch, Orbital Materials, Goparity, tl;dv, Samara, Biorce, Connect Earth and Uphill, among others.

Yes. MAZE Impact manages capital from outside investors.