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VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 7 SOURCES

MSM (Mustard Seed MAZE)

Also known as Mustard Seed MAZE, Mustard Seed MAZE – Sociedade de Capital de Risco, S.A.

Lisbon-based impact VC manager (Mustard Seed MAZE SCR) running an SFDR Article 9 fund, supported by InnovFin Equity and invested by the EIF, that backs European impact ventures.

HEADQUARTERS
Lisbon, Portugal
FOUNDED
—
AUM
~€45M (2021, press estimate)
OUTSIDE CAPITAL
Yes
TEAM LISTED
10 people

Focus

STAGES
—
SECTORS
HealthTechClimate & EnergyFintechEducationSoftware & SaaSArtificial Intelligence
ASSET MIX
Venture capitalImpact
GEOGRAPHY
Europe

Overview

MSM (Mustard Seed MAZE – Sociedade de Capital de Risco, S.A.) is a Lisbon-based alternative investment fund manager running social entrepreneurship and impact funds; its fund meets SFDR Article 9. The MSM Fund invests in European ventures whose revenues are driven by the impact they create, and the manager's carried interest is conditional on portfolio companies hitting agreed impact targets. According to LP Fundação Calouste Gulbenkian (2021), the fund totals €45M, held its first closing in November 2019 and counts the European Investment Fund, Ageas and BMW Asset Management among its investors. The portfolio spans companies such as Biorce, Orbital Materials, GoParity, Samara and Pollen.

Investment thesis

Invests in fast-growing European ventures with 'lockstep' potential, where impact and financial returns are mutually reinforcing; each investment carries one or two impact metrics with four-year targets approved by the fund's Advisory Board.

PORTFOLIO (12)

People

  • António Miguel
    Partner · source
  • Henry Wigan
    Partner · source
  • Alex Pitt
    Partner · source
  • Sofia Queiroz
    Investment Principal · source
  • Ana Pinheiro
    Head of Operations · source
  • Cristina Almeida
    Head of Platform · source
  • Jessica Jackley
    Venture Partner · source
  • Michael Rosen
    Venture Partner · source
  • Tessa Clarke
    Venture Partner · source
  • Vasco Pessanha
    Venture Partner · source

Links

Frequently asked questions

MSM (Mustard Seed MAZE) is a VC fund based in Lisbon, Portugal.

Yes. MSM (Mustard Seed MAZE) invests its own capital in private companies.

MSM (Mustard Seed MAZE) invests in HealthTech, Climate & Energy, Fintech, Education, Software & SaaS and Artificial Intelligence.

Key people at MSM (Mustard Seed MAZE) include António Miguel (Partner), Henry Wigan (Partner), Alex Pitt (Partner) and Sofia Queiroz (Investment Principal).

MSM (Mustard Seed MAZE)'s investments include Biorce, Orbital Materials, GoParity, Pollen, Samara, Connect Earth, Thrift+ and UpHill, among others.

The most recent publicly reported investment by MSM (Mustard Seed MAZE) is Pollen, announced in May 2026.

MSM (Mustard Seed MAZE) states that it accepts submissions through its official contact page.

Yes. MSM (Mustard Seed MAZE) manages capital from outside investors.