Open-ended private equity & venture capital fund focused on value creation in unlisted Portuguese SMEs and mid-caps via special-situations investments, structured to satisfy Portuguese Golden Visa requirements.
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Portugal Investment 1 is an open-ended private equity and venture capital vehicle sponsored by Saratoga Capital Partners, targeting unlisted Portuguese SMEs and mid-caps undergoing financial restructuring, ownership succession, or operational transitions. The fund leverages Saratoga's in-house operational expertise and hands-on approach to unlock value through equity and fully secured private debt, with capital market placements via blue-chip providers to maintain secondary-market liquidity. Sector-agnostic and return-driven, it invests across industrial, production, and information-technology verticals, aiming for an annualized return of 8–11% over the investment cycle. Investors must commit at least €500,000 and maintain their holding for six years to qualify for the Portuguese Golden Visa, after which they may transfer ownership to third parties or exit tax-free.
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Fund minimum: €150,000
Typical holding period
Fund target: 8-11% 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 Portugal Investment 1
An open-ended, CMVM-regulated private equity/venture capital fund focused on unlisted Portuguese SMEs and mid-caps with strong profitability potential for long-term growth and consistent annualized returns.
It targets "special situations" in light industrial, production and IT companies—such as restructurings or ownership transitions—combining equity exposure with fully secured private debt to unlock value.
Saratoga Capital Partners, founded in 2008 as an M&A guidance and capital-raising boutique, acts as both GP and operator, leveraging multidisciplinary deal-execution experience.
The fund seeks to raise €55 million in committed capital.
It plans to invest in 9–11 companies across its lifetime.
Primarily Portugal-based targets, with a broader European-Union diversification strategy.
Unlisted SMEs and mid-caps undergoing financial restructuring or succession, with defensible business models and clear exit appeal to strategic or institutional buyers.
Proprietary deal flow from internal origination, lending-bank relationships and NPL management entities.
€500 000 per investor.
72 months, with capital and returns expected to be returned in Year 6.
– Subscription/redemption fees: 0 % – Manager administrative fee: 1 % per annum – Carried interest: 20 % on returns above a 5 % hurdle
Since its 2021 inception, the fund has delivered an average IRR of 10 % per annum (≈30 % cumulative).
Through hands-on operational support in restructurings, rigorous due diligence, secured-debt structuring, and portfolio diversification to mitigate downside risk.
Maintains secondary-market liquidity via capital-market placements with blue-chip providers, allowing partial exits before final divestment.
Investments and exits are tax-free, with no subscription or redemption fees, plus simplified legal fees and assistance obtaining a Portuguese tax number and banking relationships.