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    Shilling

    Lisbon, PortugalFounded 2011

    Shilling is a venture capital firm primarily focused on investing in Seed-round, Portugal-based startups, with an additional "Opportunity Fund" for growth-stage companies (Series A and beyond) across Europe. Their strategy involves backing tech-driven solutions with disruptive ideas, strong teams, scalable business models, and a clear path to profitability, while also providing mentorship and a network to help these companies achieve global reach.

    30% of their portfolio is in Travel & Hospitality. Deal activity increased 100% year-over-year (2 deals in the last 12 months). Their most common stage is series-a (50% of deals). Average disclosed round size is $13.3M (across 10 rounds with reported amounts).

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    Portfolio

    10

    Fund Size

    Top Stage

    Series A

    Last 12 Mo

    2

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    10 investments
    CompanyRoundAmountDate
    Tucuvi logoTucuviSeries A$20MJan 2026
    Sword Health logoSword HealthSeries B$40MJun 2025
    Bounce logoBounceSeries B$19MNov 2024
    Cargofive logoCargofiveSeed$1.8MJun 2023
    tl;dv logotl;dvSeed$4.3MJun 2022
    Kencko logoKenckoSeries A$10MJan 2022
    BBarkynSeries A$9.6MApr 2021
    UUniplacesSeries A$24MNov 2015
    UUniplacesSeries A$3.5MOct 2014
    Unbabel logoUnbabelSeed$400K

    Top Co-Investors

    Lince Capital2 shared
    20VC1 shared
    FJ Labs1 shared
    KFund1 shared
    Seaya1 shared
    NextView Ventures1 shared
    Silas Capital1 shared
    NextBlue1 shared
    Atomico1 shared
    Y Combinator1 shared
    Faber1 shared

    Last updated: 16 April 2026