Explorer Investments

Founded in 2003, Explorer is Portugal's leading independent management company of alternative assets, with a reputation for outstanding quality, in-depth experience and an excellent track record. Explorer manages and advises funds with assets of above 1000 M€, divided into three Business Areas: Private Equity, Growth Capital and Tourism and Real Estate. Explorer's team is made up of more than 30 people, with complementary experience in investment banking, consulting, legal advice and industry. The investment track record of its team, its deep knowledge of Portuguese business fabric, its experience in contracting with public entities and its long-term relationships with banks, financial intermediaries and lawyers, give Explorer a unique competitive advantage in the management of alternative assets in Portugal.

Rodrigo Guimaraes

Socio Fundador

Ana Leite



Pedro Pereira Nunes

Investment Professional

Elizabeth Rothfield

Socio Fundador


Paulo Santos

CFO, Funds

Pedro Seabra


Jose Tiago Silva


Sofia Sombreireiro

Fund Manager

51 past transactions


Private Equity Round in 2013
ROQ manufacturers textile printing and packaging machinery and equipment. The company was formerly known as S.Roque - MAquinas E Tecnologias Laser, S.A. ROQ was founded in 1983 and is based in Vila Nova de Famalicão, Portugal.

GreenFiber Tech

Private Equity Round in 2015
GreenFiber Tech, S.A. manufactures composite products. The company was founded in 2011 and is headquartered in Rebordosa, Portugal.

Adla - Aluminium Extrusion, S.A.

Private Equity Round in 2013
ADLA is the result of years of experience in the aluminum industry. Based in the Indigenous Area of ​​Lameira in Celorico de Basto, the area of ​​action of ADLA goes from the extrusion to the commercialization and treatment of aluminum profiles, through the assembly of profiles with thermal rupture and the development of several solutions for application in architecture and industry.


Funding Round in 2005
Nuter is one of the largest animal nutrition companies in the Iberian peninsula. It employs over 500 people and annually produces one million tonnes of animal feed.

Okra Solar Pty Ltd

Seed Round in 2022
Okra Solar is an IoT technology solution that enables solar generating communities to share and utilize more energy. It is a plug-and-play smart grid technology that enables rapid electrification for last-mile communities. Using mobile payments, modular grid design, and remote monitoring, they provide utility companies with a low-cost, data-driven solution to operate solar networks in hard to reach communities. They are on a mission to connect off-grid communities to the modern economy. Okra Solar was founded in 2016 and is headquartered in Sydney, Australia.


Private Equity Round in 2014
Moldit has a Design department in Portugal, two manufacturing facilities (Portugal and Brazil) and a network of partners across the world.


Private Equity Round in 2013
Brandcare is a privately held company that is into sale of products for hygiene and cleaning.

Scorecode Têxteis SA

Private Equity Round in 2015
Scorecode Têxteis SA is an exporting company, inserted in the sector of the textile textile industry that distinguishes itself by the human factor of high experience and dedication.

MM Group Lda.

Private Equity Round in 2015
MM Metálica is specialized in the manufacture of ducts – circular, rectangular and oval – and the necessary components for the proper functioning of ventilation installations.

Ibero Massa Florestal, Lda

Private Equity Round in 2015
Ibero Forest Massa, Lda. is a young and dynamic company, a pioneer in the production and marketing of biocarbon for domestic and agricultural use. Ecochar is an innovative product 100% ecological and with Portuguese technology for the restructuring of agricultural and forestry soils.


Private Equity Round in 2014
SKYPRO is a global brand that develops products to improve crew’s uniforms, performance and life quality.


Acquisition in 2007
Insyncro is a privately held company that provides services for the design, production, and implementation of stands.

Starfoods SA

Private Equity Round in 2008
Starfoods SA is a privately held company that owns and operates fast food restaurants in Portugal.


Private Equity Round in 2014
Frankcork provides its customers with the highest quality cork products plus additional added-value services to partner companies.


Private Equity Round in 2014
Grestel manufactures tableware, serving accessories and ovenware made with the finest natural resources from Portugal, , and using its original formula of high-fired stoneware. Advanced technology meets skilled artisans to deliver to our customers around the world fine, durable and trendy oven-to-table with matching dinnerware.

Oficina do Livro

Acquisition in 2006
Oficina do Livro is a privately held company publishes fiction and non-fiction, children, and youth books.


Private Equity Round in 2015
CRIVEDI VESTUÁRIO is a provide personalised unique service.

Six Senses Douro Valley

Private Equity Round in 2013
Six Senses Douro Valley owns and operates a hotel that provides rooms, suites, and villas for guest accommodation in the Douro valley.


Private Equity Round in 2010
PowerVia is a privately held company that provides logistics and transportation services.

Espaço Casa

Acquisition in 2014
Espaço Casa is a privately held company that owns and operates retail stores for household items.

Vicoustic - Innovative Acoustic Solutions

Private Equity Round in 2014
The Vicoustic Academy Room Acoustics course is an intensive 2 day training program for all who want to understand and experience how sound energy interacts with materials inside rooms and shows its influence on the room’s acoustical response. In this short term but intensive training, participants will not only learn the acoustic principles of sound behaviour in rooms but also experience them, at the Vicoustic R&D Center.


Acquisition in 2009
Gascan owns and supplies a number of gas networks in Portugal and provides gas to around 60,000 customers.

Crioestaminal - Saúde e Tecnologia, SA

Private Equity Round in 2007
Crioestaminal - Saúde e Tecnologia, SA, a biotechnology company, engages in preservation of stem cells to treat future ailments. It involves in cord blood stem cell isolation and cryopreservation using umbilical cord blood. It gives parents of newborns the possibility of isolating and cryopreserving stem cells from umbilical cord blood. It is also developing research projects with Portuguese and foreign research laboratories in order to enlarge the field of therapeutic applications for stem cells from umbilical cord blood. Crioestaminal - Saúde e Tecnologia, SA was founded in 2003 and is based in Cantanhede, Portugal. As of September 24, 2018, Crioestaminal - Saúde e Tecnologia, SA operates as a subsidiary of Polski Bank Komórek Macierzystych S.A.


Private Equity Round in 2014
GlobalTest is a privately held company helping drivers, promoting the safety of their vehicles and responding responsibly to society and the environment.

J&J Teixeira S.A.

Private Equity Round in 2013
J&J Teixeira S.A. provides custom made carpentry solutions for residential and commercial sectors. It offers doors, wardrobes, wardrobes, closets, wood flooring products, decks, kitchen products, furniture, washstands, wooden windows, paneled systems, and interior coverings. The company’s projects include houses, residential buildings, commercial spaces, and hotels. J&J Teixeira S.A. was founded in 1977 and is based in Vila Nova de Gaia, Portugal with locations in Angola, Mozambique, and Qatar.

Probos Group

Acquisition in 2008
Probos Group produces, supplies, and exports protective, functional, and decorative thermoplastic edgings for the furniture industry. The company offers polymethyl metacrylate–acrylic, acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), polypropylene, and paintable PVC and ABS edgings.

Tintex Textiles

Private Equity Round in 2014
TINTEX began its journey, making high quality, natural based, responsible jersey fabrics combined with their core expertise using the latest and best sustainable hi-tech dyeing and finishing processes reinforcing the company’s advanced vision to better supply the contemporary fashion, sport and lingerie markets.

The Ramiro group

Private Equity Round in 2014
The Ramiro group is a supplier to the footwear industry.

Caixiave - Frames Industry SA

Private Equity Round in 2013
CAIXIAVE is currently leading the Iberian market for efficient windows and doors.

Industrias H. Pardo

Venture Round in 2006
Industrias H. Pardo manufactures and markets hospital and nursing, geriatric, and home beds and furniture. The company offers armchairs, bedside tables, cranes, cribs, accessories, mattresses, covers, and pillows. It serves customers in Spain and internationally.

Adclick, S.A.

Private Equity Round in 2015
Adclick provides online marketing, lead generation and web traffic for businesses.

Pagaqui Portugal

Private Equity Round in 2015
Pagaqui Portugal is a provider of Mobile charging, payment of invoices, tax payments, show tickets and Emoney cash vouchers.

Girandola - Valindo - Texteis, SA

Private Equity Round in 2014
Girandola - Valindo - Texteis, SA is a Manufacturer and retail of clothes for babies and children

Texamérica - Têxteis, Lda.

Private Equity Round in 2015
Texamérica - Têxteis, Lda. is a Portuguese fashion industry is specialized in all apparel circular knitted and plain fabrics segments.

Douro41 Hotel & Spa

Private Equity Round in 2015
The Douro41 Hotel & Spa is a contemporary hotel in harmony with the amazing natural surroundings. Beautifully situated hotel, right on the banks of the Douro, with fabulous views and excellent room comfort. Almost everywhere in the hotel you look out on the passing river and the green hills. The guarantee par excellence for a relaxing stay in a natural and contemporary setting.

BBG Aluminium Systems

Private Equity Round in 2015
BBG manufactures and assembles a multitude of metallic products such as metal structures, railings and guardrails, doors, windows, fixed and ventilated glass curtain walls, etc.


Seed Round in 2016
SMARKIO, lda. operates a digital marketing platform that helps marketers to generate leads and increase the performance of campaigns. Its services include copywriting, marketing, business intelligence, quality assurance, and deliverability. The company was founded in 2015 and is based in Porto, Portugal. As of October 16, 2020, SMARKIO, lda. operates as a subsidiary of Direct.One S/A.

Villa C Boutique Hotel

Private Equity Round in 2015
Villa C Boutique Hotel is a DHM - Discovery Hotel Management unit and a member of Design Hotels.


Private Equity Round in 2017
4TEAMS is a company whose main activity is the manufacture of textile products in the field of sports merchandising.


Venture Round in 2008
Solzaima provides a clean, renewable and more costeffective energy.

Shikan & grill

Private Equity Round in 2015
SHIKAN is a restaurant of reference, located in Vila Nova de Famalicão that chose PARTTEAM and the QMAGINE division , to be responsible for the digital signage of the restaurant. For this project, displays were installed, with information about the menus, products, prices and also an external communication station.


Private Equity Round in 2013
My Super is the brand of the new proximity stores in franchising format of the group Sonae MC, with dimensions between 100 and 500 m2.


Private Equity Round in 2015
Brasopi-Comercio De Vestuário, S.A own and operates apparel stores under the brand name Red Oak and Throttleman. The company was established in 1991 and is based in Maia, Portugal. Brasopi-Comercio De Vestuário, S.A is under Liquidation.

Holmes Place

Private Equity Round in 2005
Holmes Place International Ltd. operates fitness clubs under the Holmes Place brand name. The company was founded in 1979 and is based in Haifa, Israel. Holmes Place International Ltd. is a subsidiary of Holmes Place Group.


Private Equity Round in 2007
Mop is a privately held company that operates as an advertising company.

Totalmedia Group

Private Equity Round in 2010
Totalmedia Group specialize in the delivery of promotional leaflets to the home through field teams that provide a door-to-door service.


Private Equity Round in 2013
NMusic:registered: was launched in 2010 as part of Diligence Capital SGPS SA to do what was thought as impossible at the time: to find a creative solution for digital content distribution, able to please all consumers, partners and music agents.


Private Equity Round in 2015
Marize is specialized in production of jacquard home textiles.


Private Equity Round in 2013
NDrive’s software is based on on-board map data providing a network-independent user experience. It connects to the cloud for a wide range of Location Based Services, including map updates, real-time traffic information and social networks integration. Because of its mapping and data integration skills, NDrive is able to offer premium services globally based on OpenStreetMap (OSM), maps from Here, TomTom and from local providers around the world as required. The company was founded as a spin-off of a digital map business in 2007, has headquarters in Porto, Portugal, and offices in Shenzhen, China. NDrive is owned and managed by its founding entrepreneurs, leading a talented and dynamic team of 50 people with in-depth knowledge on Navigation and Location software. The company is highly cost and capital efficient. NDrive has developed a customer base of several million active users in more than 50 countries. Is well positioned to capitalize on high-growth markets wherever they may be. Our most recent B2C application, Karta GPS, which uses data from OpenStreetMap, is being exceptionally well received and reviewed in multiple diverse markets worldwide. Since 2007, NDrive has developed navigation solutions for more than 50 partners in more than 40 countries. Through long term partnerships NDrive software is currently installed in more than 20 million devices worldwide.


Private Equity Round in 2013
Finieco invests in commercial packaging solutions and food on paper.


Private Equity Round in 2006
Nutricafes produces and markets coffee and operates restaurants. The company engages in the production, management, and marketing of coffee brands such as Nicola and Chave D'Ouro in Portugal.