IMGA Futurum Tech Fund is a CMVM-regulated investment fund managed by IM Gestão de Ativos (IMGA), investing primarily in venture capital.
The IMGA Futurum Tech Fund is a specialised Venture Capital Fund (FCR) regulated by the CMVM and domiciled in Portugal. The fund targets high-growth technology companies in the "Atlantic Corridor" through a strategic partnership between IM Gestão de Ativos (IMGA), Portugal's largest independent asset manager, and Futurum Capital. It offers investors a route (Capital Transfer) with zero real estate exposure, focusing on scalable startups bridging the Brazilian and Portuguese ecosystems.
Capital at risk. Past performance isn't indicative of future returns. This is not investment advice.
The Institutional Powerhouse The IMGA Futurum Tech Fund represents a convergence of institutional rigour and entrepreneurial agility. It is managed by IM Gestão de Ativos (IMGA), the undisputed leader in Portugal’s independent asset management sector. With over 30 years of history and billions in assets under management, IMGA provides the robust governance, compliance infrastructure, and reporting standards that international investors require. This institutional bedrock is paired with the specialised expertise of Futurum Capital, a venture capital firm with a strong footprint in São Paulo, Lisbon, Miami, and Abu Dhabi, known for identifying disruptive technology in the Lusophone world. The "Atlantic Bridge" Thesis This fund operates on a high-conviction investment thesis: the Atlantic Bridge. Portugal has rapidly evolved into the primary gateway for Latin American—specifically Brazilian—technology companies seeking to enter the European market. The IMGA Futurum Tech Fund is in a unique position to capitalise on this value arbitrage. By finding startups that are already successful in the large Brazilian market and helping them grow through Portugal, the fund speeds up their increase in value from emerging market standards to European levels. Strategic Focus: Future Tech & Life Sciences Moving beyond generalist strategies, the fund concentrates on "Deep Tech" sectors where domain expertise creates defensible moats. The portfolio is constructed around two primary pillars: Future Tech: Investing in B2B solutions across Artificial Intelligence (AI), Fintech, Cybersecurity, and Clean Tech that solve systemic inefficiencies. Life Sciences: Targeting high-impact health technology and biotech ventures that capitalise on Portugal’s growing reputation as a European R&D hub. The investment scope focuses on seed-to-series B rounds, targeting companies that have moved beyond the "idea phase" and are ready for rapid scaling and internationalisation. Operational Value & Compliance Unlike passive capital vehicles, the partnership employs an active management style. Futurum Capital leverages its global network to open doors in the Americas and the Middle East, ensuring portfolio companies have a clear path to exit. For the investor, the fund is structured as a Fundo de Capital de Risco (FCR), fully compliant with the post-2023 Portugal Golden Visa regulations. It strictly avoids real estate, mitigating sector-specific risks while fulfilling the "Capital Transfer" requirement of €500,000.
For broader context, see our full guide to Portugal Golden Visa investment funds.
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122 team members
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Diogo Saraiva de Ponte is an experienced investment leader who has managed more than €1 billion across global private equity, real estate and...
Domenico is an Investment Associate at Ventures.eu and Dealflow.eu, working closely with startups in deep tech, AgTech, and EU-funded innovation. His...
Duarte is a legal advisor with international experience supporting private equity, venture capital, and investment funds, with a background in...
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Eunice Leão Pinto is Operations Manager at Octanova, overseeing fund setup, day-to-day operations and investor reporting across private equity,...
Fernando Fonseca has more than three decades of financial and operational experience across banking, consumer finance and investment management. He...
Fernando Freire has more than three decades of experience in banking, operations and investment management. He began his career in 1987 at Banco BBM...
Fernando Peres Ferreira is a Partner at Ventures.eu and a senior private equity and venture capital investor with a long track record backing...
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Francisco serves as Investor Relations at STAG Fund Management, combining a marketing background with hands-on experience across acquisitions, asset...
Francisco Dias Lopes is a Private Equity Associate at Growth Partners Capital, with experience across investment analysis, transaction execution, and...
Francisco Gião is an associate at OxyCapital, contributing to transaction execution, financial modelling, and portfolio strategy across multiple...
Gisela leads STAG’s Legal and Compliance functions, ensuring adherence to regulatory requirements across all funds. With more than 20 years of...
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Guilherme Valadares Carreiro is a Partner at Oxy Capital and one of the leads behind its Liquid Opportunities and Golden Visa-focused strategies....
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Henrique Anjos is a partner at Octanova SCR and a seasoned investment banker with more than 15 years of experience across Europe, North Africa, and...
Henrique Nunes is responsible for the information technology and systems infrastructure supporting BIZ Group’s operations. With over a decade of...
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Igor Pereira is a long-standing Partner at Oxy Capital with more than a decade of experience driving the firm’s investment strategies. Before joining...
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Jéssica Sousa trained as an accountant and began her career in 2007. She spent seven years managing a tax and accounting services provider in Brazil...
Joana Fernandes holds a degree in Law and completed a study semester in Madrid at Universidad Rey Juan Carlos. She joined Heed Capital in 2025 as a...
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Juan José Rodriguez-Navarro is a seasoned investment executive with decades of experience across European private equity and financial markets.
Julian Johnson is Co-Founder and General Partner at Tejo Ventures, where he leads renewable energy investments structured for Portugal’s Golden Visa...
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Marta Fernandes is a private equity analyst at Octanova. She contributes to portfolio research, asset monitoring, and investment analysis across...
Marta Mendes is an Associate at Oxy Capital, where she supports investment analysis, transaction execution and portfolio value creation. She joined...
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Stenio Franco is a Senior Director at Octanova, bringing more than twenty years of experience in cross-border M&A, private equity, venture capital...
Steven Pepa is a founding member of Saratoga Capital and co-head of its regulated products group. With more than 26 years’ experience across North...
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Tiago Botelho is a finance professional with background in audit, fund administration, and corporate finance across private equity and renewable...
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Tomás CasqueiroTomás Casqueiro is an Investment Associate at Fortitude Capital, supporting investment analysis, execution, and portfolio monitoring...
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Vasco Ferreira is an asset manager with experience overseeing European equity, fixed income, and mixed investment funds. At BIZ Group, he is...
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Enquire about IMGA Futurum Tech Fund. The fund manager will respond within 24-48 hours.
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A CMVM-regulated, VC fund with privileged access to the best European high-growth startups and corporates. Offers an option to qualify for IFICI tax regime (NHR 2.0).
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If this fund is full or doesn't meet your requirements, here are similar options with comparable risk profiles and investment strategies.
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Compare IMGA Futurum Tech Fund with similar investment funds to analyze performance, fees, and investment requirements.
"Atlantic Bridge" is the fund’s main strategy for value arbitrage. It targets successful Brazilian technology companies that have already proven their business model in Latin America and are looking to expand into Europe. By relocating their headquarters or operations to Portugal (a natural cultural and linguistic entry point), these companies can instantly access the EU single market.
General software, like basic SaaS, has become commoditised. "Future Tech" refers to Deep Tech sectors, specifically Artificial Intelligence (AI), Cleantech, and Life Sciences, where the barriers to entry are higher and the potential for "unicorn" valuations is greater. The fund seeks companies with defensible intellectual property (IP) rather than just marketing-driven growth.
Most Golden Visa funds are managed by small, boutique firms created specifically for the visa program. IMGA (IM Gestão de Ativos) is Portugal’s largest independent asset manager with billions in assets. This organisation offers an institutional layer of governance, compliance, and risk management (auditors, custodians, independent valuation) that smaller firms often lack, providing peace of mind for conservative investors.
A "Hurdle Rate" is the minimum return the fund must achieve before the manager gets paid any performance fee. Most Golden Visa funds have a hurdle of just 6–8%. A 15% hurdle is exceptionally investor-friendly; it means IMGA is so confident in their high-growth strategy that they only take a profit share (carried interest) if you make more than 15% per year. If the fund returns 14%, the manager gets zero performance fee.
No. This company is a Venture Capital Fund (FCR), which is legally classified as a high-risk investment. Unlike a bank deposit or a capital preservation fund, your capital is deployed towards startups. There is a genuine risk of loss if the portfolio companies fail, even though the target returns are high (15%+ IRR). This vehicle is for investors seeking capital appreciation, not capital preservation.
The 70% Portugal allocation ensures strict compliance with the Golden Visa regulation (which requires a minimum of 60%). The remaining 30% Europe allowance gives the manager flexibility to keep some cash liquid or invest in a "safer" European unicorn to balance the risk of the earlier-stage Portuguese startups.
Yes. The 2023 "Mais Habitação" law explicitly banned direct or indirect investment in residential real estate for Golden Visas. The IMGA Futurum Tech Fund invests strictly in equity and quasi-equity of corporate entities (startups and scale-ups). It holds no residential property, making it 100% compliant with the new "Capital Transfer" regulations.
No. This asset class is a Closed-End Fund (FCR) with a fixed 8-year term (extensible by two 1-year periods). You cannot withdraw your capital on demand. Even if you receive your passport in Year 6, your capital remains locked until the fund naturally unwinds and sells its portfolio companies (likely in Year 8, 9, or 10). You should view your investment as an illiquid 8-10 year commitment.
Investors in Venture Capital anticipate the failure of some companies, known as write-offs. The fund mitigates this risk through diversification. By investing in 15–20 companies, the goal is for the massive gains from the top 2–3 "winners" (startups that exit at 10x or 20x multiples) to more than cover the losses of the failures. This is the "Power Law" of venture capital.
Once you transfer the €500,000 and sign the subscription agreement, IMGA (the manager) issues a standardized Regulatory Declaration. Your lawyer submits this document to AIMA (the immigration agency) as your primary proof of investment. This typically happens within 5–10 business days of your funds clearing.
Yes. IMGA is accustomed to institutional reporting standards. For US citizens, this fund is treated as a Passive Foreign Investment Company (PFIC). To avoid punitive US tax rates, you must file a QEF (Qualified Electing Fund) election. IMGA provides the necessary annual statements (PFIC Annual Information Statement) to allow your CPA to file this form, taxing your gains at the favourable long-term capital gains rate rather than the highest marginal income rate.
Yes, it is registered under CMVM ID 2041.
Management Fee: 2%. Performance Fee: None. Subscription Fee: Not disclosed.