This chapter provides an overall view of social enterprise in Portugal drawn from the research carried on in the scope of the “TIMES —Institutional Trajectories and Social Enterprise Models in Portugal” project. It explores the concepts and context related to social enterprise in Portugal. Through a literature review and policy analysis, the chapter describes how the concept of social enterprise and other relevant concepts, such as social economy and social innovation, are being treated in research and in the political debate, and how this has been translated into various government programmes and measures. Based on a literature review and on interviews with key stakeholders, the chapter identifies and describes five models of de facto social enterprise in Portugal.