Golden Visa Fund Comparison
BlueWater Capital Fund vs Flex Space Fund
Compare BlueWater Capital Fund and Flex Space Fund side-by-side: fees, terms, performance metrics, and Golden Visa eligibility.
Venture Capital
BlueWater Capital Fund
Managed by Insight Venture - Sociedade de Capital de Risco, S.A.
Unverified
VS
Private Equity
Flex Space Fund
Managed by Insula Capital SGOIC
Unverified
Quick Decision Guide
Choose BlueWater Capital Fund if you prioritize lower minimum investment and venture capital exposure. Choose Flex Space Fund if you prefer lower management fees and private equity exposure.
Key Financials
€50,000Best
Min. Investment
€100,000
Min. Investment
BlueWater Capital Fund
€50,000Flex Space Fund
€100,000Not disclosed
Target Return
11.65% p.a.
Target Return
BlueWater Capital Fund
Not disclosedFlex Space Fund
11.65% p.a.Not disclosed
Fund Size
€20M
Fund Size
BlueWater Capital Fund
Not disclosedFlex Space Fund
€20M2023
Established
2024
Established
BlueWater Capital Fund
2023Flex Space Fund
2024Fees & Costs
2.5%
Management Fee
Best1.5%
Management Fee
BlueWater Capital Fund
2.5%Flex Space Fund
1.5%12.5%
Performance Fee
20%
Performance Fee
BlueWater Capital Fund
12.5%Flex Space Fund
20%Not disclosed
Subscription Fee
Not disclosed
Subscription Fee
BlueWater Capital Fund
Not disclosedFlex Space Fund
Not disclosedNot disclosed
Redemption Fee
Not disclosed
Redemption Fee
BlueWater Capital Fund
Not disclosedFlex Space Fund
Not disclosedNot disclosed
Hurdle Rate
5%
Hurdle Rate
BlueWater Capital Fund
Not disclosedFlex Space Fund
5%Liquidity & Terms
Available
Redemption
Available
Redemption
BlueWater Capital Fund
AvailableFlex Space Fund
AvailableNot disclosed
Lock-up Period
96 months
Lock-up Period
BlueWater Capital Fund
Not disclosedFlex Space Fund
96 monthsNot disclosed
Risk Band
Not disclosed
Risk Band
BlueWater Capital Fund
Not disclosedFlex Space Fund
Not disclosedVenture Capital
Category
Private Equity
Category
BlueWater Capital Fund
Venture CapitalFlex Space Fund
Private EquityEstimated Fees on €500,000 Investment
Management fees over 6 years (excludes performance fees)
BlueWater Capital Fund
Fees not disclosed
Flex Space Fund
Fees not disclosed
Cost comparison unavailable — one or more funds have not disclosed their fee structure.
Geographic Allocation
BlueWater Capital Fund
Portugal
60%
Europe
30%
Other
10%
Flex Space Fund
Portugal
100%
Ready to invest?
Speak with our Golden Visa experts to discuss which fund is right for you.
Frequently Asked Questions
The main differences include investment focus (Venture Capital vs Private Equity), minimum investment amounts (€50,000 vs €100,000), management fees (2.5% vs 1.5%), and fund managers (Insight Venture - Sociedade de Capital de Risco, S.A. vs Insula Capital SGOIC). Each fund has different risk profiles and return targets suited to different investor preferences.
Flex Space Fund has the lower management fee at 1.5% compared to 2.5%. However, consider the total cost including performance fees: BlueWater Capital Fund charges 12.5% performance fee while Flex Space Fund charges 20%. The overall value depends on your investment goals and expected returns.
BlueWater Capital Fund requires a minimum investment of €50,000, while Flex Space Fund requires €100,000. Both funds meet the Portugal Golden Visa minimum requirement of €500,000. Choose based on your available capital and diversification strategy.
Both BlueWater Capital Fund and Flex Space Fund are marketed by their managers as intended for the Portugal Golden Visa program, meeting the minimum €500,000 investment requirement and being properly regulated investment funds. Eligibility must be confirmed with Portuguese legal counsel before investing.
The choice between venture capital (BlueWater Capital Fund) and private equity (Flex Space Fund) depends on your risk tolerance and investment goals. Venture capital investments typically offer different risk-return profiles compared to private equity. Consider your portfolio diversification needs and long-term investment strategy.
Redemption terms vary between funds. BlueWater Capital Fund offers standard redemptions, while Flex Space Fund provides standard redemption opportunities. Check the specific notice periods and any redemption fees that may apply. Consider your liquidity needs when choosing between these options.
All fund data is regularly verified against official sources including fund prospectuses, regulatory filings, and direct communication with fund managers. Data freshness indicators show when each fund's information was last updated. We recommend reviewing the latest fund documents and speaking with the fund managers before making investment decisions.
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