Boosting Great Ideas

Always There From Day One

Go Further And Beyond

About Us

PATHENA is a Venture Capital Firm, with a highly reputable management team with track-record on boosting the success of Information Technology and Digital Health companies.  



Knowledge and Reputation


  • Ambition - we aim at creating disproportionate value as investment partners
  • Integrity - strict respect for professional work ethics and high standards of conduct
  • Proximity - active hands-on management team and networks; we help the companies and we are at their side when required
  • Lateral thinking - we believe on applied lateral thinking; we walk the talk
  • Internationally experienced team with strong commercial business background
  • Active world class international industry experts with experience in top worldwide corporations
  • Strong digital and health technology knowledge of the team
  • Access to European deal-flow through strategic partnerships and syndicate investors
  • Close access to Iberian and Brazil markets through Pathena's network – 250 million people market

More info


António Murta

Managing Partner and CEO

Jorge Brás

Managing Partner

Vitor Dinis

Managing Partner & CFO

Seppo Makinen


Luísa Ribeiro


João Martins


Joana Prieto

Office Manager


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Last News

ebankIT in Digital Banking Austin 2018

ebankIT was present in Digital Banking Austin 2018, with more than 1200 executives from financial institutions, banks and credit unions, from all over the world.
ebankIT showcased its inspirational innovation for financial services, being part of  great event both in terms of commercial contacts and strategical thinking.

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Portuguese fashion supply chain startup HUUB raises €2.5 million

HUUB, a Portuguese startup that manages logistics for fashion brands, has just raised an early-stage investment of €2.5 million. The round was led by the Portuguese venture capital firm Pathena.

HUUB provides product management, stocking, order fulfillment, and packing and shipping, among other services, for ecommerce fashion platforms.

“We want to be orchestrators and lead the fashion ecosystem on a sustainable-basis demanded by the industry," said Luís Roque, the CEO of HUUB. "This partnership with Pathena, which has led the biggest exits in Portugal, is another step towards our disruptive vision and establishes us as relevant players in the European supply chain scene”.

The startup plans to use the new funding to invest in marketing and sales, hire new staff, and scale its operations.

"To scale the business we need to expand our landscape of integrations, both with logistics partners specialized in markets that we are targeting and more ecommerce and marketplace platforms," added Roque, who said that HUUB intends to grow its business to represent 200 brands.

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Pathena invests in Klinik, a digital health company for medical care direction

Klinik Healthcare Solutions is a health technology company that produces clinically proven solutions and services for condition and urgency recognition, customer segmentation and patient flow management.
The series A financing round of €2.25 million was led by Pathena Fund with participation from existing investors.

The investment will enable the Helsinki-based company to further expand internationally, while continuing to develop its product scope. “Series A financing is the logical step after an excellent year for Klinik. We demonstrated rapid growth across public and private healthcare sectors, consolidated our position in the Finnish market and made inroads in the Nordic countries and the UK. Pathena’s digital and healthcare networks will enable us to expand our presence further in Europe and Latin America”, says Hannu Nissinen, founder and CEO of Klinik.

According to Pathena’s CEO and managing partner, António Murta, Pathena is constantly looking for companies that positively contribute to the quality of healthcare. “Patients deserve more and better access to healthcare, while professionals also expect to seize the value of digital health. Klinik has attained a very strong and promising market position, and we are convinced that it will deliver significant added value in the coming years. This makes Klinik a compelling investment in many ways”, Murta says.

One of the earliest investors in Klinik, Kustaa Piha, CEO of Athensmed and chairman of the board at Klinik, believes that this further investment can make an important contribution to business growth. “We have definitely found a product–market fit. We have chosen Pathena from several alternatives, because we found that the Pathena team has significant experience as growth entrepreneurs and deep knowledge in internationalizing growth businesses. Earlier investors are also happy to participate in Series A”, Piha explains.”


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Vortal invests 1.2 Million Euros in a new innovation Lab


VORTAL, the leading Portuguese company in e-procurement solutions, inaugurated a new Development and Innovation Center in Lisbon investing 1.2 million euros.
The inauguration, in partnership with COTEC Portugal, was in charge of the Minister of Economy, Dr. Manuel Caldeira Cabral.

This new R&D infrastructure was designed to host a multidisciplinary team with professionals working in different fields like data science, artificial intelligence, software architecture, digital marketing, etc. The new office counts with more than 50 people and is still growing.

According to Rui Dias Ferreira, CEO of VORTAL, "this new laboratory reinforces the company's international leadership eProcurement. It represents an investment equivalent to 4% of VORTAL's annual results and is part of a sustained strategy which foresees an investment of five million euros over the next three years, just in innovation projects."

Along the years, Vortal has been a reference company regarding innovation, with two patents granted by the USPTO of the United States and dozens of others awaiting registration, with more than 80 brands, utility models, national and world copyright.

In Vortal Innovation Lab three new technology solutions were already launched in the first quarter and there are other new prototypes still under development.

Already released:
Supplier Truster is the solution for efficient management of supplier qualification and evaluation processes, saving time, effort and reducing risk in process management.
Remote Digital Signature allows you to sign documents and proposals, without software or hardware, in any browser, by entering only a code received by sms.
Experto optimizes the experience of using VORTAL solutions and streamlines customer support processes through the use of Artificial Intelligence and Machine Learning.

Under development:
ESPDint facilitates the participation of companies in public procurement in any European country through the use of the Single European Public Procurement Document, helping to internationalize the business.
Electronic Catalogs offer the form a more efficient way to make cross-sectional awards.
Xpanded market intelligence combines a hub of all business opportunities with market intelligence and intelligence to help companies learn more about their markets, customers and competitors.

With a turnover of 12.5 million euros in 2017, VORTAL is present in Spain, Germany, Austria, Italy, France, Slovenia, Mexico and Peru, and also operates the national purchasing platforms of the governments of Colombia, Dominican Republic and Honduras.
In 2017 six million euros were awarded through VORTAL’s platforms in Europe.

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ebankIT and Neadvance joined Collaborative Laboratory in Digital Transformation

ebankIT and Neadvance, two companies of Fund Pathena, joined  the Collaborative Laboratory in Digital Transformation (DTx) – Experiencing the Future.

ebankIT and Neadvance became members of DTx, along with Universities of Minho, Évora and Católica, INL and CEiiA and also other companies such as Accenture, Bosch Car Multimedia, IKEA Industry, Cachapuz-Bilanciai, Celoplás, NOS, Primavera, Simoldes Plásticos, TMG Automotive and WEDO Technologies. Moreover, the innovation centers CCG e PIEP are affiliated members and the company Embraer Portugal will soon join this new association.

The Colab DTx will have laboratories in Braga, Évora, Guimarães and Matosinhos and aims to foster collaboration between academy and industry players with the common goal of designing and developing cyber-physical system products and evolutionary systems integrating, for example, smart materials, digital manufacturing technologies and solutions based on artificial intelligence.

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Pathena invests in Primetag, a platform where brands and influencers connect

Pathena invests in Primetag (, a platform where brands and influencers connect and grow their businesses. With the previous seed investment Primetag have successfully developed its product and attracted renamed brands and influencers to the platform. This investment from Pathena occurs after market validation and 18 months of consistent quarter on quarter growth. The funding will allow Primetag to expand its team and roll out its operations internationally with new influencers and brands, together with continuous R&D investment and home market growth.

Please find bellow 2 news on the Portuguese press about the investment:

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Pathena invests in Robotsol, a solutions provider of industrial robotics

Pathena fully subscribed this Series A round. The investment will allow Robotsol to double headcount to accelerate growth and will enable faster and robust answer to existing client base needs as well as to support Robotsol’s growth with new customers in domestic and international markets. With this investment Robotsol will also reinforce its R&D spent and will develop some standardized solutions for global markets.

This Series A investment occurs on top of an already excellent stand alone company growth and a great market momentum with very high demand for Robotsol’s solutions

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Atos and ebankIT sign Global Partnership agreement

Paris, 7th February 2017 – Atos today announces its global partnership agreement with omni-channel banking software company ebankIT. Atos will now offer ebankIT’s omni-channel offering as part of its “Now Banking” Digital Banking leadership programme, thus supporting banks in their journey towards digital transformation.


Together driving omni-channel Digital Transformation in Banking

The evolution of Banking continues to accelerate at cruising speed. Customers want fast and consistent transactions and expect to be able to access and control their finances using any device and any channel, at any time. Financial institutions have often been held back by cumbrous, inflexible legacy systems. Omni-channel banking enables banks to deliver a seamless and consistent customer experience, whether customers are accessing their bank via a mobile, tablet or visiting a branch in person.


“Digital Banking requires a willingness to think differently, develop collaboratively and move fast. To test, learn and improve. These are the traits that characterize the success of a digital transformation” said Remco Neuteboom, Global Chief Digital Officer, Financial Services at Atos. “Our partnership with ebankIT perfectly fits our ambition to support our clients in their digital transformation journey, and enable them to make the most of every customer contact to drive long-term competitive advantage.”

This partnership between Atos and ebankIT enables banks to design and deliver the services demanded by today’s and tomorrow’s customers, and offer an improved customer experience with real-time, speed, agility and security

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i2S one of Pathenas portfolio companies won COTEC's SME 2016 Innovation award

Every year, the SME Innovation COTEC-BPI award, created with the support of Público newspaper, recognises a small or medium enterprise (SME) that has stood out in the Portuguese context for its innovative activity and attitude. This is a very prestigious award, having a very strong impact in terms of the notability it brings to the companies it recognises. i2S is one of the two 2016 winners, sharing the first place with ERT. The award was presented by the President of the Portuguese Republic, Marcelo Rebelo de Sousa.

The attribution of the award is based on three pillars, whose continuous evolution i2S has always strived to guarantee: Product, Processes and People. This means that this recognition is not associated with just a product or innovation, but rather with a path, a mindset and an attitude developed and refined over the years.

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Pathena invests €3M in 360imprimir

360imprimir, the first Portuguese online printing firm which promises to revolutionize SMEs marketing solutions, announced that it has secured €3 million of financing. The Venture Capital firm Pathena fully subscribed this Series A round. The investment will allow 360imprimir to further expand internationally, while continuing to develop its product scope.

The Series A financing culminated an excellent year for 360imprimir, which presented rapid monthly growth, consolidating its position in the Iberia market and achieved a successful entry into Brazil and Mexico. Founded in 2013, 360imprimir, through its proprietary intelligent aggregation software, offers its customers “fabless” digital printing, with the lowest prices in the market - a one-stop-shop for marketing products.

The investment will be crucial to evolve the company’s product scope, which aims to completely modify SMEs’ marketing solutions, optimizing the consumer’s experience and aligning off- and online strategies. According to Sérgio Vieira, the firm’s CEO “We started by printing, but we intend to completely modify SMEs’ marketing solutions. The fact that we utilize external idle capacity makes this process easier.”

Moreover, both the financial component and Pathena team deep experience in IT companies’ international expansion, will allow 360imprimir to further expand its presence in Latin America, while consolidating its Iberian Market.    

For António Murta, Pathena’s Managing Partner, “360imprimir represents the worldwide challenge of digital printing in a “fabless” and self-service fashion (individuals, SMEs). Its growth pattern confirms the execution quality and work of the founders’ team.”

About Pathena Fund

Raised in 2013 by a group of entrepreneurs with solid experience in IT and financing industries and with a track record with a series of well succeeded international exits, Pathena Fund focus in Companies in the late early stage and growth, operating in the information technology and medtech sectors.

About 360imprimir

Founded in 2013, 360imprimir is a fabless online print-shop company providing physical marketing products to SME’s. The firm adopts a Marketplace Business Model based on its proprietary intelligent aggregation software. This allows following a cost leadership strategy, becoming the cheapest one-stop-shop for marketing products for SMEs. 360imprimir already proved its Business Model in Iberia and has recently started operations in Brazil and Mexico with considerable success.

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