Explorer Investments

António Rocha e Silva is a Partner in Explorer Investments' Private Equity – Growth business with 20 years of experience across strategic consulting, financial management, and private equity. Over the past decade he has focused on private equity, participating in more than 50 investments and over 20 exits and raising €400M across multiple funds. He has supported portfolio companies across a range of sectors and stages, from venture capital to large cap.

José Tiago Silva was part of the founding team of Discovery, where he led more than 40 acquisitions building a portfolio valued at over €600M. From 2005 to 2012 he worked as a consultant at McKinsey & Co., delivering strategy, corporate finance, and operational change projects across Portugal, Africa, and Latin America, with a focus on the energy, infrastructure, and financial sectors.

Pedro Coutinho has a background in M&A, having worked at international investment banks in Madrid, Amsterdam, Paris, and Lisbon, where he participated in transactions totaling more than €5 billion. His experience spans sectors including consumer goods, food and agriculture, industrials, and infrastructure. He is a Guest Professor of Private Equity and Venture Capital at Católica Lisbon School of Business & Economics.

Tiago Gonçalves began his career at Boston Consulting Group, working in the consumer goods and private equity practice in Portugal and Brazil. He then joined Sonae MC as Head of Business Development, leading several M&A transactions, before becoming General Manager of Sonae's clinic network, which he grew from 2 to 23 sites and from €800k to €15m in revenue over four years while overseeing an investment plan exceeding €10m.

Michal Nachmany joined Sphera in 2023 as Head of HR. She previously held leadership roles at global high-tech and infrastructure companies including Leadcom, Orbotech, Pipl, and Playbuzz. She holds a Master's degree in Art Therapy and Psychology from the European Graduate School in Switzerland.

Alexandre Matos started his career at PriceWaterhouse and Roland Berger, working on restructuring and turnaround projects in Portugal, Germany, and Brazil. He then moved to RAR Holding as Head of Business Development, leading M&A activity in Portugal and the UK, and later served as a Board Executive Member at companies including OPWAY and ES Tourism (Grupo Espírito Santo) and as CFO of MEO (formerly Portugal Telecom), where he handled large M&A operations such as TowerCo and FiberCo transactions.

Ana Pimentel has over 18 years of experience in finance and serves as CFO and head of HR at Explorer Investments, which she joined in 2006. She holds a degree in Accounting and Management/Financial Control from Instituto Superior de Contabilidade e Administração de Lisboa (ISCAL) and is a member of the Order of Certified Accountants (OCC).

André Bandeira has over 21 years in the investment industry and works on Explorer Investments' Corporate Development team, focusing on relationship management, business development, fundraising, and marketing and communication. He previously spent around a decade in Institutional Equity Sales at Caixabank BPI covering European markets and took part in equity capital transactions, and earlier served as a Financial Advisor at BPI and Barclays. He holds a Business degree from Universidade Católica do Porto and is a CFA charterholder.

Bruno Varandas has 11 years of experience in investment banking and private equity. He is part of the Private Equity – Buyouts team at Explorer Investments, where his work involves monitoring portfolio companies and analyzing and executing investment and divestment transactions.

Diogo Mexia Alves is early in his investment career as a member of the Private Equity – Buyouts team at Explorer Investments. His work involves monitoring portfolio companies and analyzing and executing investment and divestment operations.

Gonçalo Arruda Pereira has over eight years of experience in the investment industry. He is a member of the Private Equity – Growth team at Explorer Investments, where his work covers portfolio company monitoring, deal generation and execution, and fundraising for the firm's Growth funds.

Guiomar Dias started her career in 2014 at the accounting firm Best Account S.A. and later worked as an accountant at Moneris – Serviços de Gestão, S.A., handling more than 15 companies across different sectors. In 2020 she joined PKF II – Outsourcing, Lda. as a Senior Accountant.

Ilídio Aires began his career as an accounting technician at MOG – Métodos de Organização e Gestão, Lda., handling accounting records for various companies. He then worked as a junior accountant at Ribeiro da Cunha & Associados, SROC, Lda. on auditing projects across industrial sectors, before becoming a senior auditor at Moore Stephens & Associados, SROC, S.A.

João Caro de Sousa started his career at Deloitte in 2009 within Global Investment and Innovation Incentives. In 2010 he moved to BPI, working in Asset Management as part of the management team for Fundo BPI África, and later led the management team of Fundo BPI Brasil.

João Dória previously served as CFO and head of the Logistics department at Amorim Luxury Group. He started his career at Barclays Bank in Lisbon and worked in Barclays' Investment Banking division across London, Madrid, Lisbon and Athens, and later in the Investment Banking division of ALANTRA in Lisbon. He co-founded the big data company Stokedge and was a non-executive director of iParque.

João Martins previously worked at Banco de Portugal, where he led the unit responsible for the Planning and Organisation of Prudential Supervision. Earlier in his career he was a consultant at BCG (2011–2013) and before that at Deloitte. His work has spanned Portugal, Spain and Africa across banking, private equity, insurance and the public sector.

João Vazão joined Explorer Investments after more than three years at Nomura Greentech in London, where he worked on Energy and Infrastructure. He previously worked at StormHarbour Securities in London and Lisbon on special situations advisory, and began his career in M&A at KPMG Lisbon. His advisory work has covered both buy-side and sell-side processes for a range of institutional clients.

Luís Belchior is a member of Explorer Investments' Hospitality – Discovery Fund Team, working on financing operations and divestments across the portfolio. He was previously an Engagement Manager at McKinsey & Company serving clients in Portugal, Spain and Italy, and advised the Secretary of State for Tax Affairs at the Portuguese Ministry of Finance from December 2019 to December 2020. He holds an MBA from Columbia Business School and a Master's in Chemical Engineering from Instituto Superior Técnico in Lisbon.

Margarida Teixeira has six years of experience in digital transformation across corporate and consulting roles. From 2018 to 2022 she worked as a project manager at NOS SGPS, and she started her career as a business consultant at Capgemini, where she handled projects spanning the technology, textile, food, banking, and insurance sectors.

Maria Caçorino has over eight years of experience in the private equity industry and works on the Corporate Development team at Explorer Investments. Her responsibilities include positioning the firm's flagship funds, developing thematic and opportunistic initiatives, and strengthening institutional relationships.

Maria Campos Silva works on the Corporate Development team at Explorer Investments, where her responsibilities include relationship management, business development, fundraising, and marketing and communication. She began her career in 2022 after an internship in the firm's Private Equity – Growth Capital team. She holds a degree in Organizational Communication from Universidade Católica de Lisboa.

Maria do Carmo Fortunato is a member of the Private Equity – Growth team at Explorer Investments, where her work covers portfolio monitoring, deal generation and execution, and fundraising for the firm's Growth funds. She previously completed a 2023 internship at BPI across the CEINN innovation unit, Corporate and Institutional Banking, and the Direção de Canais. She holds a Master's degree in Finance and a degree in Economics from Nova School of Business and Economics.

Marta Machado started her career at Norfin – Sociedade Gestora de Fundos de Investimento Imobiliário in the accounting department, handling the registration of fund transactions. She later worked at Prio Energy as a Service Stations Manager and, earlier, at UWU solutions, Lda as an accounting technician serving several companies.

Massimo Massimilla is a Partner at GRC IM with 20 years of experience investing globally across asset classes and holding senior director roles at asset managers. From 2015 to 2018 he served as CEO of Algebris Italy, overseeing its expansion into Italian non-performing loans, and earlier worked in corporate finance at Goldman Sachs and Morgan Stanley with a focus on the financial sector. He graduated cum laude from Bocconi University in Milan, studied for a term at New York University, and is fluent in Portuguese, English, and Italian.

Miguel Castello Branco began his career at SANA Hotels in food & beverage services before joining the Revenue Management team at Sheraton Lisboa Hotel & Spa in 2013. In 2015 he moved to Discovery Hotel Management (DHM) as Revenue Manager, later serving as Operations Manager from 2017 to 2023 and working on the growth of Discovery Fund's asset portfolio. He was appointed Chief of Staff at DHM in the summer of 2023.

Pedro Correia de Barros previously worked at BCG's London office in the Principal Investors and Private Equity area, with experience advising on company acquisitions across sectors including industry and transportation. Earlier, he spent seven years at Quadrante Group, a Portuguese engineering firm, serving as Country Manager responsible for the group's operations and business development in West African and UK markets.

Pedro Pereira Nunes previously worked as a Board Advisor at a Brazilian-Portuguese family office, where he was part of the Real Estate & Infrastructure team handling investment analysis, asset management, financial modelling, due diligence and deal execution. He also supported the board of a group of companies on finance activities such as budgeting, financial planning and reporting, and gained experience across Portugal, Brazil, Italy, Angola and South Africa. He began his career as a structural engineer and project manager.

Ricardo Nuno André worked at McKinsey & Co from 2007 to 2014, leading projects in Portugal, the United Kingdom and Africa across the financial, telecommunications and energy sectors, with emphasis on strategy, marketing/sales and risk. From 2014 to 2018 he was at EDP – Energias de Portugal, where he managed the Holding Company's Strategic Risks and Transversal Projects Area.

Sofia Sombreireiro joined the Expansion Capital team at Explorer Investments, where she handled the fund's financial information and contributed to the final stage of investments. She also served as Controller of the Discovery and EREF Funds. She began her career in 2005 at Deloitte as an auditor covering Technology, Media & Telecommunications, Construction, Real Estate, and Utilities.

Tânia Guerreiro works in the Fund's Finance department at Explorer Investments, serving as chartered accountant for funds and non-operating companies, with more than 21 years in the finance industry. She began her career in 2003 in the accounting department of Espírito Santo Resources, SA, and later joined PKF III – Outsourcing, Lda in 2014 as head of financial information for venture capital companies and funds. She holds an Executive Master's Degree in Tax Management from Indeg-ISCTE and a Bachelor's Degree in Accounting and Finance from ESCE, and is a member of the Order of Certified Accountants.

Tiago Alcoforado Calhau previously spent eight years at Sonae MC, where he held roles including General Manager of Go Natural, Head of Business Development & Analytics in the Health, Beauty and Wellness area, and International Strategy Manager for the food retail business. Before that, he worked as a consultant at the Boston Consulting Group from 2012 to 2015 and began his career as a lawyer at Cuatrecasas, Gonçalves Pereira from 2005 to 2011.