Growth Partners Capital
Growth Blue Fund is a closed-end alternative investment fund regulated by CMVM – Comissão do Mercado de Valores Mobiliários and managed by Growth Partners Capital, investing in private equity with a minimum commitment of €50,000 and a 120-month lock-up period.
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Golden Visa note: The manager states this fund is intended for Golden Visa applicants, but this claim is not shown as independently verified here.
Capital at risk. Past performance isn't indicative of future returns. This is not investment advice.
Growth Blue is a closed-end private equity fund focused on Portugal’s Blue Economy, investing in SMEs and Mid-Caps with strong operational foundations and clear growth potential. Supported by the European Investment Fund and overseen by CMVM, it aims to create value by actively managing its investments and following a policy that focusses on sustainability.
Growth Blue – Fundo de Capital de Risco Fechado is a private equity fund dedicated to scaling SMEs and Mid-Caps operating within the Blue Economy, with a particular focus on companies established in Portugal. The fund is managed by Growth Partners Capital and brings together more than two decades of investment experience in the Iberian Peninsula. Its strategy centres on acquiring meaningful equity and quasi-equity positions, typically between 40% and 60%, allowing the fund to participate actively in strategic decision-making, governance oversight, and long-term value creation. A defining feature of Growth Blue is the presence of the European Investment Fund as an anchor investor, supported by the Capital and Quasi-Capital Funds of Banco Português de Fomento and the European Commission’s InvestEU program. This institutional backing provides additional credibility and aligns the fund with broader European objectives in sustainable economic development. The fund’s investment policy promotes environmental and social characteristics by targeting companies that contribute to the Blue Economy while excluding those operating in sectors deemed incompatible with sustainability criteria. Each investment undergoes a detailed due diligence process that assesses governance structures, board practices, compensation frameworks, risk controls, and operational integrity. Growth Partners Capital often places a representative on the board of each investee company to ensure continued oversight and alignment with best-practice governance. With at least 85% of its capital deployed in Portugal and the remainder across the European Union, Growth Blue aims to support businesses with strong fundamentals, scalable models, and potential for both organic and inorganic expansion. As a closed-end fund with a defined term and CMVM supervision, it offers a structured approach to long-term private equity investing in one of Europe’s fastest-growing sustainability-orientated sectors.
We source from CMVM-regulated managers where applicable. Verify each fund's registration and GV suitability with counsel.
Information as reported by fund manager. Terms may vary by investor class.
Growth Blue is a closed-end private equity fund with no redemption rights during its full 10-year term. Units cannot be redeemed early under any circumstances. Transfers are only possible through private secondary transactions, subject to manager approval, KYC/AML checks, and CMVM rules. Investors should expect their capital to remain fully locked until the end of the fund’s life or final liquidation of its portfolio.
Redemption terms may vary by investor class. Verify details with the fund manager.
Always confirm regulatory details with the fund manager and legal counsel before investing.
9 team members
Team members are employed by the fund manager, not Movingto. Profiles listed for directory comparison.
Juan José Rodriguez-Navarro is a seasoned investment executive with decades of experience across European private equity and financial markets.
José María Cantero de Montes-Jovellar is Chairman and Partner at Growth Partners Capital, bringing extensive experience in corporate governance,...
Miguel Herédia is a Board Member at Growth Partners Capital, bringing a strong background in private equity, strategy, and maritime-focused...
Gonçalo Freire is a Private Equity Associate at Growth Partners Capital, with a background in investment analysis, deal execution, and portfolio...
Francisco Dias Lopes is a Private Equity Associate at Growth Partners Capital, with experience across investment analysis, transaction execution, and...
Henrique Simão is a Private Equity Senior Analyst at Growth Partners Capital, supporting investment analysis, valuation, and portfolio monitoring...
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Disclaimer: This enquiry does not constitute investment advice or a commitment to invest. All investments carry risk. Past performance does not guarantee future results.
Investment in funds involves risks, including the possible loss of principal. Please read all fund documentation carefully before making any investment decisions. Past performance is not indicative of future results.
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Fund minimum: €50,000
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Using Industry Assumptions: This projection uses market averages as the fund hasn't specified target returns. Actual performance may differ significantly. Contact the fund manager for fund-specific projections.
Investment Risk Disclosure: These projections are for illustrative purposes only and do not guarantee future performance. Past performance is not indicative of future results. All investments carry risk, including potential loss of principal. Consult with a qualified financial advisor before making investment decisions.
New Frontiers Energy Fund is a CMVM regulated Portuguese private equity fund designed to qualify under Portugal’s €500,000 Golden Visa investment route. Managed by the award winning fund management house FundBox, the fund combines regulatory oversight with institutional grade governance, providing international investors with a compliant and professionally structured pathway to Portuguese residency. The fund achieved its target of 10% annual returns in both 2024 and 2025, investing in early stage solar energy projects that have already received government guarantee and are listed on the official ACORDO list. By focusing on early stage renewable projects within Portugal’s expanding clean energy sector, the strategy aims to capture value at an early phase while benefiting from strong national support for solar infrastructure. The fund is supported by an expert origination team with years of sector experience, ensuring disciplined project selection and execution. To enhance flexibility for international investors, early withdrawals are available subject to fund terms, and subscriptions can be made via Jumbo structures, removing the need to open a Portuguese bank account. New Frontiers Energy Fund is designed for investors seeking Golden Visa eligibility, exposure to Portugal’s renewable energy growth, and access to a regulated, professionally managed investment platform. Non Golden Visa related investments also welcome.
New Frontiers Energy FundThe fund adopts a diversified and risk-focused strategy based on two core pillars: secured credit and investment-grade bonds. It finances contracts between established entities with strong guarantees and protective mechanisms, enhancing security for investors. In parallel, the fund invests in BBB to AAA-rated government and corporate bonds from Portugal and international markets, aiming to deliver stable and consistent returns while preserving capital.
Quadrantis CapitalMercúrio Fund II, FCR is a closed-ended private equity fund managed by Oxy Capital, focused on acquiring and transforming mature Portuguese SMEs. Launched in 2025, it targets special situations, operational turnarounds, and growth-stage opportunities while remaining fully compliant with Portugal’s post-2023 Golden Visa rules and maintaining zero real-estate exposure.
Oxy CapitalThe Portuguese Energy Efficiency Investment Fund III focuses on the renewable energy sector, supporting projects aligned with Portugal’s strong position in EU renewable production and broader ecological goals, with additional backing from EU and state support. As the third fund in this sector, it targets high-growth and strategic areas such as electric mobility, the carbon market, maritime economy, solar, wind, and hydroelectric energy. The fund invests exclusively in stable, proven companies with solid performance, benefiting from significant public support, including up to 40% state co-investment, to foster sustainable growth and long-term value.
Quadrantis CapitalNew Frontiers Energy Fund is a CMVM regulated Portuguese private equity fund designed to qualify under Portugal’s €500,000 Golden Visa investment route. Managed by the award winning fund management house FundBox, the fund combines regulatory oversight with institutional grade governance, providing international investors with a compliant and professionally structured pathway to Portuguese residency. The fund achieved its target of 10% annual returns in both 2024 and 2025, investing in early stage solar energy projects that have already received government guarantee and are listed on the official ACORDO list. By focusing on early stage renewable projects within Portugal’s expanding clean energy sector, the strategy aims to capture value at an early phase while benefiting from strong national support for solar infrastructure. The fund is supported by an expert origination team with years of sector experience, ensuring disciplined project selection and execution. To enhance flexibility for international investors, early withdrawals are available subject to fund terms, and subscriptions can be made via Jumbo structures, removing the need to open a Portuguese bank account. New Frontiers Energy Fund is designed for investors seeking Golden Visa eligibility, exposure to Portugal’s renewable energy growth, and access to a regulated, professionally managed investment platform. Non Golden Visa related investments also welcome.
New Frontiers Energy FundThe fund adopts a diversified and risk-focused strategy based on two core pillars: secured credit and investment-grade bonds. It finances contracts between established entities with strong guarantees and protective mechanisms, enhancing security for investors. In parallel, the fund invests in BBB to AAA-rated government and corporate bonds from Portugal and international markets, aiming to deliver stable and consistent returns while preserving capital.
Quadrantis CapitalIf this fund is full or doesn't meet your requirements, here are similar options with comparable risk profiles and investment strategies.
Mercúrio Fund II, FCR is a closed-ended private equity fund managed by Oxy Capital, focused on acquiring and transforming mature Portuguese SMEs. Launched in 2025, it targets special situations, operational turnarounds, and growth-stage opportunities while remaining fully compliant with Portugal’s post-2023 Golden Visa rules and maintaining zero real-estate exposure.
The fund adopts a diversified and risk-focused strategy based on two core pillars: secured credit and investment-grade bonds. It finances contracts between established entities with strong guarantees and protective mechanisms, enhancing security for investors. In parallel, the fund invests in BBB to AAA-rated government and corporate bonds from Portugal and international markets, aiming to deliver stable and consistent returns while preserving capital.
Lince Growth Fund I, FCR is a regulated Portuguese growth-equity fund investing in established, revenue-generating SMEs. Focused on industrial and circular economy, it targets scalable businesses that need capital to modernise, expand, or internationalise. Fully compliant with Golden Visa rules, it provides exposure to Portugal’s real economy with professional, active management.
Compare Growth Blue Fund with similar investment funds to analyze performance, fees, and investment requirements.
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.
The profile marks this fund as Golden Visa intended. Eligibility must still be confirmed against current law, fund documents, and the applicant's own legal file.
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