Growth Partners Capital
Operated by Growth Partners Capital, S.A.
Growth Partners Capital, S. A.
About Growth Partners Capital, S.A.
Growth Partners Capital, Sociedade de Capital de Risco, S.A., is a Portuguese-domiciled investment management firm authorised and supervised by the Comissão do Mercado de Valores Mobiliários (CMVM). Established in 2016 and headquartered in Cascais, the firm operates under the SCR regime, enabling it to structure, manage, and oversee closed-ended private equity and venture capital funds across Portugal and Spain.
Open Opportunities
Currently accepting new investments
Growth Blue Fund
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.
Key Highlights
EIF-Level Due Diligence Benchmark
Growth Partners Capital is one of the few Iberian managers that has successfully completed the European Investment Fund’s thorough review process, which looks closely at governance, how they value investments, risk management, and their ability to operate effectively.
Blue Economy Expertise Embedded at Partner Level
The Blue Economy strategy is managed by partners who have real experience in marine innovation, unlike companies that rely on outside experts, which means their investment choices are based on actual industry conditions instead of just general ESG ideas.
Management Commitment Above Market Norms
The firm’s partners commit a materially higher share of personal capital to their funds than is typical for mid-market Iberian managers, reinforcing alignment not only at fund launch but throughout the full investment lifecycle.
Designed for Post-2023 Golden Visa Compliance
Fund structures were intentionally engineered to remain compliant after Portugal’s 2023 immigration reforms, avoiding later restructuring risks that have affected managers who originally relied on real-estate-linked strategies.
Institutional Reporting Built for Cross-Border LPs
Growth Partners Capital uses reporting standards that match what international LPs expect, making it easier for non-Portuguese investors who are used to European private equity reporting to get involved.
Selective Portfolio Construction Over Volume
Rather than deploying capital rapidly, the firm maintains a deliberately concentrated portfolio, prioritising governance influence and strategic involvement over fund size maximisation.
Strategic Use of EU Financial Instruments
The firm shows a unique skill in combining EU-supported financial tools and co-investment plans with private equity setups while still aiming to achieve good profits.
Low Public Exposure, High Institutional Integration
Growth Partners Capital keeps a low public profile while working closely with institutions and regulatory bodies, focussing more on getting things done and following rules than on being visible in marketing.
Team
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...
Tomás de Almeida is Finance Manager at Growth Partners Capital, overseeing financial reporting, fund operations, and internal control processes. He...
Maria Inês Macedo is responsible for Compliance at Growth Partners Capital, bringing extensive experience in regulatory compliance, risk management,...
Frequently Asked Questions
Growth Partners Capital operates exclusively as a management company. Investor money is put into separate closed-ended funds, each with its own legal setup, paperwork, and asset separation, instead of being kept at the management company level.
Funds are denominated in euros, and portfolio companies primarily operate within the eurozone. As a result, investors are generally not exposed to direct foreign-exchange risk at the fund level, unless a portfolio company generates revenues outside the euro area.
The firm applies formal conflict-of-interest policies as required under Portuguese asset management law, including pre-investment disclosures, internal review procedures, and segregation between advisory, governance, and execution roles.
Yes. Prior to capital deployment, portfolio companies must meet baseline governance and reporting criteria or agree to implement them as a condition of investment. This often includes board structuring, financial controls, and compliance reporting.
Investors receive structured reporting on a periodic basis, typically including financial updates, portfolio developments, and valuation commentary. Reporting frequency aligns with institutional private equity norms rather than ad hoc updates.
The firm does not manage daily operations but maintains active oversight through board representation, strategic planning involvement, and milestone-based performance monitoring.
Typically, licensed intermediaries, private banks, or advisory firms arrange access to the funds, ensuring the proper fulfilment of suitability assessments and regulatory onboarding requirements.
No. The funds are structured for qualified and professional investors, as defined under EU financial regulations, and are not marketed to the general retail public.
Undrawn commitments remain with the investor and are only called as needed. If deployment opportunities do not meet the fund’s investment criteria, capital is reserved for better transactions.
While not guaranteed, fund units may be transferred to another eligible investor subject to manager approval, regulatory checks, and fund documentation. A formal secondary market is not provided.
Contact & Regulatory Information
Contact Details
Regulatory Information
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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.