Golden Visa Eligible Golden Visa Investment Funds

The 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.

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.

Horizon Fund is an open-ended, CMVM-regulated alternative fund that blends Portuguese fixed income with exposure to large-cap digital assets. Managed by Octanova SCR, it aims for long-term growth and eligibility for the Golden Visa by investing 65% in high-quality Portuguese bonds and up to 35% in BTC, ETH, and SOL through regulated custodians.

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.

Lince Yield Fund, FCR is a regulated Portuguese private credit and income-focused fund targeting a 5% annual yield. It finances mature, financially sound SMEs through secured and mezzanine debt, prioritising capital preservation and stable distributions. Built for risk-averse Golden Visa investors, it combines defensive credit strategies with the safeguards of a CMVM-supervised FCR.

The Atlantic Bond Fund is an Open-ended Alternative Investment Fund designed and managed by 3 Comma Capital. The fund aims to provide its participants with capital appreciation over a five-year period, with an investment policy designed to achieve absolute returns within the recommended investment horizon (100% bond fund).

A CMVM-regulated, open-ended alternative investment fund that invests primarily in Portuguese bonds and equities, with flexibility to allocate to ETFs, other funds, and international securities for diversification

The 3CC Portugal Golden Income Fund is an open-ended, CMVM-regulated alternative investment fund managed by 3 Comma Capital. It blends stable income from Portuguese corporate bonds with growth exposure to U.S. and global equities, digital assets and gold, while meeting all eligibility requirements for the Portuguese Golden Visa.

The IMGA GV Portuguese Corporate Debt is a specialized fixed-income fund that aims to provide investors with consistent returns by investing primarily in debt securities issued by Portuguese companies or entities with significant operations in Portugal. The fund focuses on capital preservation and steady income generation over a medium-term horizon.

The IMGA GV Portuguese Equities is an open-ended securities investment fund designed to provide investors with exposure to the Portuguese stock market. The fund’s primary goal is to achieve long-term capital appreciation by investing predominantly in companies listed on the Euronext Lisbon exchange.

The IMGA Portuguese Corporate Debt Fund offers conservative exposure to corporate bonds and commercial paper issued mainly by Portuguese companies. It’s designed for investors seeking steady, lower-volatility returns, daily liquidity, and a strategy built around high-quality issuers with a strong foothold in Portugal’s real economy.

A CMVM-recognised private equity fund managed by Quadrantis Capital, combining private equity, credit and high-grade bond investments to target a 10% annual return and provide a Golden Visa-eligible route for investors.

IMGA Ações Portugal is a long-established equity fund focused exclusively on companies listed on the Portuguese stock market. Active since 1995 and managed by IM Gestão de Ativos, the fund seeks to grow your investment over time by holding a variety of Portuguese stocks, with daily updates on value, no fees for joining or leaving, and a strong history of performance over many years.

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.

INZ is a closed-ended Private Equity fund focused on renewable energy and energy-efficiency assets across Iberia, fully engineered for Golden Visa eligibility. Managed by STAG Fund Management and in line with UN Sustainable Development Goals, the fund aims to create steady, long-term value by investing in distributed solar, clean transportation, and low-carbon infrastructure using a careful, impact-focused approach.

A CMVM-regulated, SFDR Article 8 venture capital fund managed by Insula Capital that invests in Portuguese flexible workspaces, offering Golden Visa–eligible exposure to the “future of work” with targeted dividends from year two onwards.

Portugal Investment 1, a closed-end private equity fund structured as a Fundo de Capital de Risco (FCR). The fund mainly puts money into Portuguese companies, especially in hospitality, tourism, and industry, aiming for long-term growth while following the new rules for Portugal's Golden Visa funds after 2023.

Pela Terra II: Regenerate is a Portugal-based, CMVM-regulated closed-end venture capital fund focused on regenerative agriculture and farmland private equity. Structured to meet Portugal Golden Visa requirements without direct real estate exposure, the fund invests in agricultural operating companies that acquire, regenerate, and operate farmland in Portugal’s interior regions.

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).

The RYSE Golden Opportunities Fund invests exclusively in high growth digital health companies that are transforming how healthcare is delivered and financed. The strategy focuses on proven, revenue generating businesses that deliver measurable economic value to healthcare systems scalable, asset‑light models with strong competitive moats and clear paths to profitability. As the only Golden Visa fund dedicated to digital healthcare, it offers investors focused exposure to a sector undergoing structural, long‑term expansion, underpinned by rigorous research, disciplined risk management, and deep sector expertise.

Lince Growth Fund I, FCR is a regulated Portuguese growth-equity fund investing in established, revenue-generating SMEs. Focused on industrial, healthcare, agri-food, and tech companies, 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.

The Fund lends to small and medium companies that operate in Portugal in the sectors defined in the LPA. The Fund shall invest in companies with good growth prospects and that are able to repay in full the loans provided. The Fund pursues the investment policy by investing, for limited periods of time in debt instruments, with the goal to earn an interest rate that is commensurable with the risk taken. The Fund will target conservative investments and that are protected by the equity amount hold by shareholders in target companies.

The Greenpower Fund is a renewable‑energy infrastructure fund focused on generating stable, recurring operational cash flows through investments in solar and wind energy assets. With flexibility to invest across Europe, the Fund targets projects characterized by predictable revenues, strong margins, and low operational risk. Investment Strategy: The Fund develops and acquires renewable energy projects—mainly photovoltaic and wind—benefiting from long‑term market fundamentals. Renewable energy currently accounts for around 20% of global energy consumption, and this figure is expected to rise to 85% of global electricity production by 2050, representing one of the most significant structural growth trends worldwide. The strategy emphasizes: Cash‑flow visibility through operational assets with contracted or stable revenue profiles Portfolio diversification across technologies and geographies Low operational volatility supported by experienced technical management teams (20+ years) Attractive tax treatment on capital gains and distributions, depending on investor jurisdiction. Governance & Risk Management The Fund operates under a robust governance framework. All investment and divestment decisions are supervised by an Investor Board, including independent advisors. Exposure to any single project is capped at 33% of total fund assets, reinforcing diversification and concentration control. Operational management teams oversee each asset along its lifecycle, from development to ongoing performance monitoring, ensuring rigorous standards in engineering, risk oversight, and financial discipline. Institutional Investor Fit The Greenpower Fund is designed for institutional investors seeking: Infrastructure exposure with long‑term income stability Participation in Europe’s renewable energy expansion through a structured, professionally managed vehicle Predictable return streams driven by real assets and stable operating environments Low correlation with traditional financial markets Distribution‑focused performance, aligned with the cash‑flow generative nature of renewable assets

Fortitude Portugal Special Situations II is a CMVM-regulated private equity fund focused on special situations across Portugal and Iberia. Backed by institutional partners and led by former Goldman Sachs leadership, the fund targets event-driven opportunities in industries from energy to hospitality. It aims for 15–20% net returns while remaining eligible for Portugal’s Golden Visa program.

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.

Open-ended UCITS-compliant balanced fund investing in Portuguese listed equities and bonds, offering daily liquidity and eligibility for the Portuguese Golden Visa .

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.

Greytech III focuses on Growth and Buyout opportunities. The targets are established Portuguese mid-market companies with solid track record of cash flow generation and EBITDA between €2M and €10M. The Fund invests in the Portuguese economy with a solid balance of growth potential and downside protection. Greytech III targets a net IRR >15%, consistent with Iberis' historical performance.

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 Golden Visa–eligible route (Capital Transfer) with zero real estate exposure, focusing on scalable startups bridging the Brazilian and Portuguese ecosystems.

The IMGA Silver Domus Fund is a closed-end venture capital vehicle focused on Portugal’s fast-growing Senior Living sector. It invests in assisted living, continuing care, home-care operators, and specialised senior facilities, targeting value-add opportunities supported by long-term demographic demand. The fund aims for stable, inflation-linked returns through a mix of operating partnerships and strategic expansion across Portugal.

PEEIF II is a closed-ended venture capital fund focused on financing Portugal’s energy transition through renewable energy production, industrial energy efficiency projects, and clean-technology infrastructure. Managed by Quadrantis Capital and regulated by the CMVM, the fund is structured to qualify under Portugal’s investment fund framework for the Golden Visa program after 2023, with no direct or indirect real estate exposure.

The Corporate Bond Fund (CBF) is an open-ended fund focused on capital preservation and income generation. It is built on a core principle of risk mitigation through diversification, spanning across security types, maturities, and sector allocations. The fund offers weekly subscriptions and redemptions, with no performance fees, ensuring flexibility and cost transparency for investors. The CBF reflects ActiveCap’s commitment to transparent, disciplined, and risk-conscious portfolio management. It aims to deliver stable mid-single-digit returns while minimizing volatility and preserving capital. The CBF is currently open for subscription and eligible for the Golden Visa Programme.

Explorer V is a CMVM-regulated private equity fund managed by Explorer Investments, focused on control investments in high-potential Portuguese companies. Backed by over 20 years of experience, the fund transforms lower mid-market businesses through active ownership, operational improvements, and international expansion.

The Alpha Fund is a private equity fund focused on special situations. Its primary objective is to invest in companies with sound business models but distressed balance sheets, typically resulting from external events that have impacted their financial structure in recent years. The fund is currently open for subscription and is eligible for the Golden Visa programme, offering investors both attractive return potential and residency benefits.

LXL Ventures employs a hybrid portfolio strategy, 40% in U.S. companies, 35% in established Portuguese market names, and 25% in early-stage Portuguese technology companies. The tech sleeve is the key differentiator, embedding investors into Portugal's innovation ecosystem in a way that unlocks the country's new tax benefit scheme. The overall structure is designed to feel familiar to American investors while delivering European residency, EU mobility, and a pathway to Portuguese citizenship, all within a framework built for dual U.S. and Portuguese compliance.