Open-ended FCR vehicle targeting profitable Portuguese SMEs via senior secured and mezzanine debt, plus hybrid instruments, to deliver stable 5 % p.a. dividends and structured for Portuguese Golden Visa eligibility (minimum €100 000)
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Capital at risk. Past performance isn't indicative of future returns. This is not investment advice.
Lince Yield Fund is designed to generate a dependable 5 % p.a. yield by financing profitable Portuguese SMEs through a mix of senior secured loans, second-lien debt, mezzanine instruments and selected hybrids. The strategy emphasizes capital preservation and downside protection via rigorous covenants, high-quality collateral and sector diversification. Investors receive annual dividends commencing in 2026, with full capital reimbursement by year 5, and may trade participation units on the secondary market at any time.
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.
Redemption terms may vary by investor class. Verify details with the fund manager.
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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: €100,000
Typical holding period
Fund target: 0-0% p.a.
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.
Everything you need to know about investing in Lince Yield Fund, FCR
The Lince Yield Fund, FCR is a CMVM-regulated venture capital vehicle focused on providing senior and hybrid debt financing to profitable Portuguese SMEs, targeting stable income and capital preservation.
It is structured as a Venture Capital Fund under the Portuguese legal framework for Venture Capital, Social Entrepreneurship and Specialized Investment (Annex to Law no. 18/2015 of 4 March).
Lince Capital, SCR, S.A. (NIPC 513500707), a CMVM-licensed fund manager headquartered in Lisbon, acts as the managing body.
The fund is targeting a total capital raise of €20 million.
Investors may participate from a minimum subscription of €100,000, in participation units ("PUs") with a face value of €1,000 each.
The vehicle has a six-year term with a three-year investment period, during which capital will be deployed into portfolio companies.
Set-up fee: 3 % one-off (included in the subscription amount). Management fee: 2 % per annum on realized capital. Performance fee: 20 % carry on profits above a 3 % hurdle, with a catch-up mechanism.
Once investors receive a 3 % preferred return, 20 % of any additional profits are allocated to the fund manager, with the remaining 80 % distributed to investors.
The fund aims to deliver stable annual dividends of 5 % from 2026 onwards, with full return of subscribed capital by year 5 upon repayment of underlying loans.
It deploys capital through senior secured loans, second-lien loans and mezzanine debt—favoring bullet loans with recurring interest payments to generate yield.
The investment policy is sector-agnostic but focuses on non-cyclical industries with long-term growth tailwinds, explicitly excluding real estate.
Target companies are Portuguese SMEs with viable business models, predictable cash flows, strong governance, experienced management teams, and collateralizable assets.
Each financing transaction ranges from €1 million to €5 million, depending on the company's capital needs and collateral capacity.
Risk is managed via rigorous due diligence, financial and operational covenants, high-quality collateral, portfolio diversification across companies and sectors, and continuous monitoring.
National residents incur a 10 % withholding tax on capital gains generated by the fund, while non-resident investors benefit from no withholding tax on distributions and gains.