# Zaphira Capital

Zaphira Capital is a Single Family Office based in Lisbon, Portugal.

## Overview

- **Organization type:** Single Family Office
- **Headquarters:** Lisbon, Portugal
- **Region:** Europe
- **Address:** Rua Vieira da Silva 45, 1350-342 Lisbon, Portugal
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** zaphiracapital.com
- **LinkedIn:** https://pt.linkedin.com/company/zaphira-capital

## Regulatory record

- **Reports private funds:** No

## About

Zaphira Capital was established as a single family office in Portugal. Adriano Lucas serves as CEO and managing partner alongside chairman Adriano Callé Lucas and managing partner Max Bingre. The firm deploys capital through direct co-investments, SPVs, fund-of-funds commitments, private equity, and real estate. Confirmed focuses include PropTech, FinTech, Energy Transition & Renewables, and RegTech. Geographies span Africa, Asia, Europe, the Middle East, North America, and South America. Technology emphasis covers AI/ML and Web3 & Blockchain. Investment stages run from Series B through Series G. No AUM figure or team size is disclosed. Additional offices are not reported. No dated operational events from the last 24 months appear in available records. The office maintains a thematic allocation mandate that integrates direct investments with fund commitments across multiple regions and asset classes.

## Sectors

- PropTech
- FinTech
- Energy Transition & Renewables
- RegTech

## People

- Adriano Callé Lucas — Chairman
- Adriano Lucas — CEO & Managing Partner
- Max Bingre — Managing Partner

## Questions

### Who runs investment decisions at Zaphira Capital?

Adriano Lucas serves as CEO and managing partner. Adriano Callé Lucas holds the chairman role. Max Bingre is listed as managing partner.

### How does Zaphira Capital source proprietary deal flow?

The firm evaluates opportunities across private and public markets, real estate, and venture capital through thematic investing and rigorous financial analysis.

### Is Zaphira Capital structured as a single family office or does it operate more like a venture firm?

Altss research classifies it as a single family office. The firm manages and preserves family wealth through asset allocation, direct investments, and alternative strategies.

### Does Zaphira Capital participate in fund commitments or only direct deals?

Investment types include direct co-investments and SPVs, fund-of-funds, private equity, and real estate.

### What investment stages does Zaphira Capital typically target?

Confirmed stages run from Series B through Series G.

### Which sectors does Zaphira Capital explicitly focus on?

Sector tags include PropTech, FinTech, Energy Transition & Renewables, and RegTech. Technology focuses cover AI/ML and Web3 & Blockchain.

### Where does the underlying wealth come from?

Wealth origin is not publicly disclosed.

## Related profiles

- [Zak Capital](https://altss.com/profile/zak-capital)
- [Zapis Capital Group](https://altss.com/profile/zapis-capital-group-zapis-family-office)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/zaphira-capital

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology