
Joao Coelho Borges
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- Full Name
- João Coelho Borges
- Title
- CEO & Founding Partner, Draycott; Founder & Investment Committee Member, Shilling VC
- Firm
- Draycott; Shilling VC
- Firm Type
- Diversified alternative asset manager; private equity, real estate, venture capital and fund-of-funds platform
- Investment Stage
- Private Equity & Growth buyouts/equity consolidation; early-stage venture through Shilling VC; Series A+ follow-on/growth via Shilling Opportunity Fund
- Check Size
- Shilling Opportunity Fund invests up to €5 million in Series A and later rounds
- Target Company Profile
- Iberian mid-market companies with attractive business models, value-creation potential and international expansion potential; early-stage technology companies with disruptive ideas, strong teams, scalability and clear business models
- Sector Focus
- Private equity and growth, real estate, venture capital, renewable energy, industrials/services, hospitality, wellness, sports, healthtech, fintech, future of work, mobility, blockchain, deeptech/AI, SaaS, marketplaces and consumer
- Geographic Focus
- Portugal, Spain/Iberia, with selected pan-European and global exposure
- Location
- Lisbon, Portugal
Background
João Coelho Borges is the CEO and Founding Partner of Draycott, a Lisbon-based diversified alternative asset manager. Draycott says its platform spans Private Equity & Growth, Real Estate, Venture Capital and Fund of Funds, and describes its mission as broadening Portuguese investors’ access to private-market strategies. The firm’s own history says João brought nearly two decades of investing experience into Draycott’s institutional platform in 2022; Portuguese press has described Draycott as founded by him in 2019, while Keyhaven’s 2024 announcement states that he founded Draycott SCR in 2020.
Before Draycott, Borges was a senior investor at Magnum Capital / Magnum Industrial Partners. Draycott says he led investments at Magnum Capital and has more than 25 years of private-equity experience across New York, London and Iberia. Keyhaven says he spent 17 years at Magnum Industrial Partners after five years at McKinsey & Company and Goldman Sachs M&A; Equilar’s summary adds that he joined Magnum in January 2007 after roles at Och-Ziff Capital Management’s private-equity team in London, Goldman Sachs M&A in London, and McKinsey in Lisbon, Madrid and Athens.
Borges is also a founder of Shilling VC, originally established in 2011 as a business-angel group by Hugo Gonçalves Pereira, António Casanova, Diogo da Silveira, João Coelho Borges, Juan Alvarez and Pedro Rutkowski. Shilling later became one of Portugal and Spain’s active early-stage venture investors, with portfolio companies including Unbabel, Uniplaces, BestTables, Rows, Coverflex and Sword Health.
His education is reported across several sources: Draycott lists a BSc in Business Administration & Economics from Richmond University in the UK; Católica-Lisbon lists him as having an MBA from Columbia Business School and a Master in Business Administration from Católica-Lisbon SBE; Equilar also reports an MBA from Columbia Business School and a MSc in Business from Universidade Católica de Lisboa and Universidad de Salamanca.
Investment Thesis & Focus
- Borges’s current Draycott platform invests across private equity/growth, real estate, venture capital and fund-of-funds strategies, with an emphasis on private markets, Iberian relationships and operational value creation.
- Draycott describes its edge as “the ability to find value where others see complexity,” with focus on medium-sized equity/buyout opportunities, high GP commitment, Iberian track record, ESG integration and performance-driven capital deployment.
- In private equity, Draycott’s portfolio page frames its approach as “Equity consolidation & Buyouts,” while its recent deals show a preference for category leaders, consolidation platforms and assets where operational improvement, M&A and scale can create value.
- Borges’s own Shilling profile says: “I like to make deals happen.” He says he focuses on bringing people together, finding creative deal structures, helping companies grow and investing across sectors, geographies and growth phases.
- Shilling’s founder-fund thesis looks for disruptive ideas, tech-driven solutions, strong balanced teams, scalability and clear business models with a path to profit.
- Shilling’s model is founder-community oriented: portfolio founders participate in fund profits, and the platform provides mentorship, fundraising preparation and introductions to international VC networks.
- Recent Draycott commentary around Verescence framed the deal as backing category leaders in resilient sectors and using “creativity, flexibility, and deep alignment” to build long-term value.
Notable Investments
- Verescence: French luxury glass-packaging manufacturer for beauty and cosmetics; Draycott and Movendo Capital acquired it in a €490 million transaction in 2025, described by Draycott as the largest PE deal led by a Portuguese fund.
- Square Asset Management: Draycott completed the 100% acquisition in June 2026, adding one of Portugal’s largest real-estate asset-management platforms and a large retail/institutional investor base.
- Purever: Draycott portfolio company producing insulation and refrigeration products; cited in Portuguese press as part of the Draycott portfolio.
- Pradecon: Metal-structure company serving solar-panel assembly; cited as a Draycott portfolio company and linked to Borges’s partnership network.
- TTM Group / Totalmédia: Last-mile distribution group in Draycott’s private-equity portfolio.
- Greenview / Jardim Vista / Sograma: Draycott acquired Jardim Vista and Sograma in 2026 to form Greenview, positioned as a consolidation platform in Portuguese garden construction and maintenance.
- Viriato Funerárias: Portuguese funeral-services platform in Draycott’s portfolio.
- Claro: Industrial-laundry platform formed after Draycott bought VivaWashing, NovaWash/SerlimaWash II and Staro in 2025.
- Science4you: Draycott entered the capital of the Portuguese educational-toy company in 2026, becoming a shareholder alongside Fernando Santos.
- Unbabel: Shilling early investment; AI/human translation platform that later raised more than $83 million and is listed by Shilling as exited in 2026.
- Uniplaces: Shilling early investment; student-accommodation marketplace that reached 500,000 nights booked in three years.
- BestTables: Shilling early investment; online restaurant-reservation marketplace, exited successfully in 2015 to TheFork/Tripadvisor ecosystem.
- Rows: Shilling investment; no-code spreadsheet/web-app platform backed alongside investors including Accel and Cherry Ventures.
- Coverflex: Shilling portfolio company; compensation/fintech platform and first investment from Shilling’s 2024 Opportunity Fund.
- Sword Health: Shilling/Draycott VC portfolio exposure; digital musculoskeletal therapy company.
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