Private Markets Golden Visa Investment Funds
Compare 14 Private Markets investment funds for Golden Visa applications.
Mercúrio Fund II, FCR
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
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.
PEEIF II – Portuguese Energy Efficiency Investment Fund II
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.
Flex Space Fund
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
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.
Lince Growth Fund I, FCR
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.
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
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.
Crown Investments Fund
A closed-end venture capital fund managed by Insight Venture, investing in innovative and sustainable projects across Portugal with a focus on value creation and long-term capital growth.
Global European Cinema Fund (GECF)
The fund is a CMVM-regulated venture capital fund that invests in high-potential film and TV productions, leveraging tax-rebate guarantees, senior-secured positions, and established distribution partners to deliver low-correlated returns and Golden Visa eligibility.
BlueWater Capital Fund
A closed-end venture capital sub-fund of the Global Insight Fund focused on sustainable investments in marine economy, water management, renewable energy, digitalisation, recycling, mobility, and health-related innovation, with mandatory allocation to Portuguese companies.
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.
Digital Insight Fund
A closed-end venture capital fund focusing on digital economy and technology-driven businesses with high scalability potential, particularly in Portugal.
IMGA Futurum Tech Fund
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.
IMGA Silver Domus Fund
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.
Frequently Asked Questions about Private Markets Portugal Golden Visa Investment Funds
Private Markets Golden Visa funds are Portugal Golden Visa investment funds (often called Golden Visa funds) that invest in unlisted assets not traded on public exchanges. This can include private equity, venture capital, private credit, and other alternative strategies. These funds are commonly structured as FCR (Fundo de Capital de Risco) and regulated by the CMVM. If the fund qualifies for the Portugal Golden Visa fund route, investors subscribe to fund units and use the investment evidence for their Golden Visa application, subject to legal confirmation of eligibility.
The number changes as funds are added, updated, or reclassified. This tag page lists the funds currently tagged Private Markets and presented as Portugal Golden Visa investment funds based on manager disclosures and available documentation. Golden Visa eligibility must still be confirmed by Portuguese legal counsel before investing in any specific fund.
For the Portugal Golden Visa fund route, the commonly referenced minimum is €500,000 invested into qualifying Portugal Golden Visa investment funds (Golden Visa funds), subject to current rules and legal interpretation. Private markets funds frequently set higher minimum subscriptions due to the nature of illiquid, long-duration strategies.
Private markets funds carry specific risks that differ from public market investments. Key risks include illiquidity (you cannot sell units on demand), long lock-up periods (often 5–10+ years), valuation lag (holdings are marked infrequently and may not reflect current market conditions), J-curve effect (early-year losses before returns materialise), and manager execution risk (returns depend heavily on the team's ability to source, manage, and exit deals). Regulation and CMVM oversight provide governance, but they do not guarantee returns or protect against loss in Portugal Golden Visa investment funds.
There are two separate timelines: Golden Visa rules require you to generally maintain the qualifying investment throughout the required residence period until you can exit under the program rules. Private markets fund terms typically include multi-year lock-ups and long fund lives (often 7–12 years with possible extensions), and liquidity depends on portfolio exits rather than redemption windows. Always check the fund's lock-up, term, extension provisions, and exit mechanics—and confirm holding requirements with Portuguese legal counsel.
In many cases, yes—Portugal Golden Visa applications often allow family members to be included, but eligibility depends on relationship and dependency rules and can change over time. This is a legal question: confirm who you can include and what documents you'll need with Portuguese legal counsel as part of your Golden Visa process.
No. Movingto Funds provides information and introductions for Golden Visa funds and Portugal Golden Visa investment funds. We do not provide investment advice or recommend any specific fund. Always obtain independent financial advice and Portuguese legal advice before investing.