Shilling

Shilling is a prominent early-stage venture capital firm based in Lisbon, Portugal, known for its significant contributions to the Iberian startup ecosystem. The firm primarily targets pre-seed to Series A opportunities, with a broad investment thesis spanning both B2B and consumer categories. Shilling distinguishes itself by actively partnering with founders from the earliest stages, providing not just capital but also strategic guidance and access to a robust network. Their hands-on approach aims to accelerate the growth of their portfolio companies, leveraging deep industry expertise and a strong entrepreneurial spirit.

Shilling's investment strategy is centered on identifying and nurturing high-potential startups with disruptive technologies or business models. They are sector-agnostic within their B2B and consumer focus, seeking out companies that demonstrate strong market fit and scalability. Typically, Shilling's initial check sizes range from approximately $216,000 to $1.62 million, reflecting their commitment to supporting companies through critical early growth phases. They also have the capacity for significant follow-on investments as their portfolio companies mature and raise subsequent rounds, often participating up to Series A.

The firm has progressively grown its capital base, demonstrating increasing influence in the region. For instance, Shilling successfully closed its third fund, Shilling Fund III, with a target size of €50 million (approximately $54 million) in 2022, building on previous funds. This substantial capital enables them to support a diverse portfolio, which currently includes over 70 companies. Their portfolio features several success stories, underscoring Shilling's role in fostering innovation and economic growth within Portugal and beyond.