SMEs Golden Visa Investment Funds
Compare 6 SMEs investment funds for Golden Visa applications.
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.
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.
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.
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.
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 is marketed for the Golden Visa route via the Capital Transfer option, with eligibility subject to legal confirmation with zero real estate exposure, focusing on scalable startups bridging the Brazilian and Portuguese ecosystems.
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.
Frequently Asked Questions about SMEs Portugal Golden Visa Investment Funds
SMEs Golden Visa investment funds are specialized investment vehicles that focus on smes sectors and are marketed for Portugal's Golden Visa program (per manager statements). These funds allow non-EU investors to potentially obtain Portuguese residency by investing €500,000 or more in smes investment opportunities—subject to verification by Portuguese legal counsel.
Currently, there are 6 smes funds available in our directory that are marketed for the Portugal Golden Visa route (per manager statements). Each fund should be verified with Portuguese legal counsel to confirm eligibility.
Portugal Golden Visa fund route requires €500,000 in total qualifying investment (post-October 2023 rules), which excludes funds with direct real-estate investment — confirm fund-specific eligibility with qualified Portuguese legal counsel. Individual smes fund subscription minimums may be lower, but total qualifying investment must reach €500,000. Eligibility must be confirmed with Portuguese legal counsel.
No investment fund is risk-free, and capital is at risk — including the risk of losing some or all of your investment. SMEs funds may be regulated investment vehicles, but regulation governs conduct and disclosure; it is not a guarantee of returns or of capital protection. Outcomes depend on the fund's strategy, assets, fees, liquidity, and market conditions. Review each fund's prospectus and Key Information Document and consult your own qualified legal and financial advisers before investing.
For Golden Visa purposes you generally maintain the qualifying investment through the residence and renewal period. Holding periods and the naturalisation timeline changed under Portugal's 2026 Nationality Law and must be confirmed with qualified Portuguese legal counsel.
Portugal Golden Visa applications often allow family members (e.g. spouse, dependent children, dependent parents), but eligibility depends on relationship and dependency rules that can change — confirm with qualified Portuguese legal counsel.