Duarte Mineiro

Duarte Mineiro is a Managing Partner at Armilar Venture Partners, one of Portugal's longest-standing venture capital firms (formerly known as ES Ventures / Espírito Santo Ventures). He joined the firm in 2010 and has since grown into a leadership role, taking charge of the firm's fundraising efforts while remaining an active investor in the HealthTech vertical. Armilar today manages more than €600 million in assets and is known for having been an early backer of unicorns such as Feedzai and Outsystems.

Before venture capital, Mineiro spent over a decade in strategic and management consulting at The Boston Consulting Group, where he worked extensively across Spain, France, and the UK. This international consulting background informs his hands-on, operationally engaged style with founders; his firm bio describes him as someone who "involves himself in an intense way in the day-to-day multi-tasking." He sits on the board or acts as observer for several portfolio companies.

On the education side, he holds a BSc in Industrial Engineering from Instituto Superior Técnico (IST) in Lisbon and an MBA from the Tuck School of Business at Dartmouth in the United States. He is fluent in English, French, Spanish, and Italian, reflecting the pan-European scope of his investing.

• Invests at Seed through Series A, with individual checks roughly in the $100K–$5.0M range and a sweet spot around $1.5M.
• Personal specialization in HealthTech / Digital Health / Health IT, where he consistently ranks as an active investor; the broader firm invests across AI, cybersecurity, fintech, automation, spacetech, and dual-use technologies.
• Focused on deep tech at the intersection of digital technology and hard science — companies with defensible technical moats rather than purely commercial plays.
• Strong conviction on Iberia as an emerging deep-tech hub: per Mineiro, "Iberia represents a growing opportunity, combining world-class talent, growing R&D intensity, and increasing institutional support."
• Builds concentrated portfolios — Armilar's Fund IV is designed to back approximately 20 companies over its life, implying meaningful ownership and active involvement per deal.