Alpac Capital
ABOUT ALPAC CAPITAL
Alpac Capital is a Lisbon-based investment firm founded in 2013, with regional offices in Budapest and Dubai, managing three CMVM-regulated EuVECA funds: a Tech fund (East West), a Telecom fund (Luso Pannon) and a Media fund (Future Media). It invests at the growth and scale-up stages in tech and media companies, with a mandate that bridges Portugal and Central Europe and a strong connection to Hungary. Alpac Capital has made 12 investments with two exits, and its portfolio includes Euronews (98% control), 4iG, Codevision, Biometrid, DreamShaper and Adria News Network (sale agreed with United Group in May 2026). The firm was founded by Managing Partners Pedro Vargas David (CEO) and Luís Santos. Its cross-border focus on technology and media between Portugal and Central Europe sets Alpac Capital apart from domestically oriented Portuguese managers.
INVESTMENT THESIS
Tech and media companies bridging Portugal and Central Europe.
INVESTMENT DETAILS
TEAM
FREQUENTLY ASKED QUESTIONS
What stage does Alpac Capital invest at?
Alpac Capital invests at Series A, Growth stages.
What sectors does Alpac Capital invest in?
Alpac Capital focuses on Tech, Media.
Where is Alpac Capital based?
Alpac Capital is a VC based in Lisbon, Portugal, founded in 2013.
Who are the partners at Alpac Capital?
Key people at Alpac Capital include Pedro Vargas David (Founding & Managing Partner (CEO)), Luis Santos (Founding & Managing Partner).
What companies has Alpac Capital invested in?
Alpac Capital's portfolio includes Euronews, 4iG, EARTH AI, Adria News Network, Caravela Seguros, e-Schooling, DreamShaper, Biometrid, among others.
Is Alpac Capital actively investing?
3 EuVECA funds: Tech (East West), Telecom, Media.
Can I invest in Alpac Capital's funds as an external investor?
Alpac Capital raises its funds from external investors (LPs). No open subscription window is publicly announced right now — prospective LPs are typically onboarded when the next fund is raised.
How do I contact or pitch Alpac Capital?
You can reach Alpac Capital via their website (alpaccapital.com). You can also run your startup through Portugal VC's AI matcher to get a ranked shortlist of the investors that fit.