Growth Blue Fund

Growth Blue is a CMVM-regulated Private Equity fund managed by Growth Partners Capital that pursues a growth-equity strategy in Portugal's "Blue Economy," investing in profitable SMEs and mid-caps to generate both financial returns and sustainable ocean-resource impact.

The fund seeks €50 million of total commitments and has secured a €28 million anchor investment from the European Investment Fund (EIF), alongside commitments from national and international private investors.

Investors can join the fund with a minimum subscription of €100 000.

Growth Partners Capital, S.A.—a CMVM-licensed Private Equity firm—is the fund manager, and Deloitte serves as the independent auditor.

Growth Blue has a 10-year lifespan from the initial closing, with a 5-year investment window structured as three years plus two one-year extension options.

A 2 % annual management fee is charged on committed capital, and a 20 % carried-interest applies on profits above a 7 % preferred-return hurdle.

The fund aims for an internal rate of return (IRR) above 20 % per annum and a money-on-money multiple of 3.3× over its life, with annual dividend distributions to investors.

Over 85 % of Growth Blue's investments will be in Portuguese SMEs and mid-caps, leveraging Portugal's strategic maritime position, large exclusive economic zone, and strong Blue-economy tradition.

Core areas include Offshore Renewable Energy, Seafood & Aquaculture, and the Blue Bioeconomy, plus related technologies—each chosen for Portugal's competitive advantage and strong growth prospects.

The fund invests in profitable SMEs and mid-caps with EBITDA above €2 million, deploying approximately €5 – 10 million per deal for large minority or controlling equity stakes.

Value is added through hands-on initiatives—100-day operational plans, cost and supplier optimization, professionalizing management, strategic planning, and support for scale-up and international expansion.

Deals include dividend and liquidation preferences, anti-dilution and non-competition clauses, board representation, drag-along/tag-along rights, and the fund employs no leverage at its own level.

Single-company exposure is capped at 15 % and sector exposure at 30 %. ESG adoption, biannual investor reporting, a formal Guidance Committee, and thorough legal/financial/ESG due diligence underpin the governance framework.

Depending on final size, Growth Blue anticipates 8–10 transactions. It currently has at least three pipeline projects under negotiation or analysis, with tickets ranging from €3.5 million to €7 million.

The Blue Economy is a fast-growing global sector supported by European and international policy. It covers everything from sustainable aquaculture to marine technology, ocean data, coastal innovation, and clean-energy solutions. With strong institutional backing and long-term environmental relevance, it is considered a structural, not cyclical, growth theme.