Portugal offers Golden visa for investing in investment and venture capital funds. Some 5% of the residence permits issued are for capital transfers investments in Portugal.
For Golden visa program, Portugal requires a Capital transfer of the amount of 350,000 Euros, or higher, for the acquisition of units of investment funds or venture capital fund of funds dedicated to the capitalisation of companies. The conditions for capital injected under the Portuguese legislation, whose maturity, at the moment of the investment, is,
- Investment must be held for at least, of five years and, at least,
- 60% of the investments is realized in commercial companies
- Head office in national territory
It is important to remember that if you have dual EU status, you will be ineligible for GV program. (you will only qualify for Non habitual residency)
Portugal offers a number investment funds for foreign investors for the purpose of GV program. The investment funds may be interesting as it has less overhead compared to real estate investment. For some applicants who have investing background may find it useful as these funds are controlled by dedicated investment managers freeing you from oversight.
You can expect yields about 3-5% which will cover all the fund expenses and it will be profitable for you after the first year on the top of 350k investment.
Please note from Jan 1, 2022 onwards, amended Portugal Golden Visa legislation will increase the minimum required to purchase investment funds by to 500,000 euros (from 350k)
Please note the minimum investments for the funds may range from 50,000 euros to 500,000 euros per unit and the holding period ranges from 5-10 years.
We have compiled full list of investment funds and venture capital funds from CMVM (see below)
Advantages
Investment funds have several advantages compared to real estate.
- Tax efficient investment , not required to submit Portuguese tax returns, no any withholding tax
- Diversified investments invested in real estate, tech companies, fixed income securities.
- Yields are higher than investment options.
- Low fees
- Save time, money and lots of paperwork
Fund Costs
Here are the brief overview of costs you should expect from subscribing to an Portugal investment fund
- Subscription fee – 1%-5%
- Annual Fund management fee – 0.75% to 2.75% of the funds value
- Additional Legal costs
- Success fee (paid to fund managers) when dissolving the fund
- GV fees paid to SEF
US Persons
US persons are allowed to invest in portuguese investment funds.
US Persons (citizens and tax residents) are subject to FATCA regulations. This means that “US Person” investing in the eligible investment funds for the Portuguese Golden Visa they need to open the Portuguese bank account at a FACTA compliant bank (eg. Bison Bank, Banco Atlântico, Banco Carregosa) to hold the shares of the investment fund.
The Passive Foreign Investment Company (PFIC) is a pooled investment registered and regulated outside the US, including many types of funds, investment trusts, ETFs, and some foreign corporations and pension schemes too.
The Passive Foreign Investment Company (PFIC) rules are designed to prevent U.S. persons from deferring tax on passive income earned through non- U.S. corporations, or from converting this income into capital gains that are taxed at preferential rates. A foreign investment fund or corporation is considered a PFIC if either at least 75% of its gross income is passive income (i.e. from investments), or if at least 50% of its assets are held to produce passive income.
PFICs covers a wide variety of non-U.S. investment products besides mutual funds and are commonly owned by Americans abroad, are taxed punitively by the U.S. Each PFIC must be reported annually on U.S. tax form 8621 often time consuming and quite complex. Expats who invest in a foreign mutual fund will also have to report it under FBAR and FATCA rules, depending on the size of their investments, seeking a professional advice.
Note: US citizens and permanent residents may be restricted to apply for some investment funds
Fund Returns
You should expect returns of 3-5% a year, for example when the fund ends in 5-10 years.
Fund Risks
All investment funds are exposed to risks which could lead to capital loss. due to global events (eg. Covid pandemic) . Do your risk analysis by closely evaluating track record of company, all balance sheets, performance of funds and background of company and fund managers. Invest wisely.
Full List
Below are full list of investment funds approved and monitored by Portugal Securities commission (CMVM) Please note some of the funds are not available for Golden visa applications and US citizens.
1. Real Estate Investment Funds
- ACIF – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- ADDREZZA ARRENDAMENTO – REAL ESTATE INVESTMENT FUND CLOSED FOR HOUSING RENTALS
- AG – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- ARQUIMEDES – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- ARRÁBIDA – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- LEASING MORE – CLOSED REAL ESTATE INVESTMENT FUND FOR HOUSING RENTAL, FIIAH
- WINGS INVEST – CLOSED REAL ESTATE SPECIAL INVESTMENT FUND
- ATLANTIS – CLOSED REAL ESTATE INVESTMENT FUND
- BANIF GESTÃO IMOBILIÁRIA – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- BANIF PROPERTY – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- BANIF RENDA HABITAÇÃO – REAL ESTATE INVESTMENT FUND FOR HOUSING LEASE
- BF INVEST – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- CA IMOBILIÁRIO – SPECIAL FUND FOR REAL ESTATE INVESTMENT
- GROWING HERITAGE – OPEN REAL ESTATE INVESTMENT FUND
- REAL CAPITAL I – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- REAL ESTATE PORTFOLIO – SPECIAL REAL ESTATE INVESTMENT FUND
- CIMÓVEL – CLOSED REAL ESTATE INVESTMENT FUND
- CITATION – CLOSED REAL ESTATE INVESTMENT FUND
- COLINVEST – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- COMFORT – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- DOMUS CAPITAL – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- DP INVEST – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- EMINVEST – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- EUROPA – CLOSED REAL ESTATE INVESTMENT FUND
- FIMES II – CLOSED REAL ESTATE INVESTMENT FUND
- EAST FIMES – CLOSED REAL ESTATE INVESTMENT FUND
- FIMES ONE – CLOSED REAL ESTATE INVESTMENT FUND
- FIMMO – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- FIMOBES – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- FIVE STARS – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- FOZ DO TEJO – CLOSED REAL ESTATE INVESTMENT FUND
- FSG SAÚDE – CLOSED REAL ESTATE INVESTMENT FUND
- FUNDES – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- FUNDIAL – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- FUNDINVEST – CLOSED REAL ESTATE INVESTMENT FUND
- FUNDIPAR – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- FUNDITUR – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- OPEN FUND FOR REAL ESTATE INVESTMENT – AF PORTFÓLIO IMOBILIÁRIO
- REAL ESTATE MANAGEMENT FUND – FUNGEPI – NOVO BANCO II
- REAL ESTATE MANAGEMENT FUND – FUNGEPI NOVO BANCO
- IMOFID OPEN REAL ESTATE INVESTMENT FUND
- CLOSED REAL ESTATE INVESTMENT FUND – IMOSOTTO ACCUMULATION
- CLOSED REAL ESTATE INVESTMENT FUND – TDF
- REAL ESTATE INVESTMENT FUND CLOSED AMOREIRAS
- REAL ESTATE INVESTMENT FUND CLOSED BEIRAFUND
- CRESCENDIS CLOSED REAL ESTATE INVESTMENT FUND
- FUNDICENTRO CLOSED REAL ESTATE INVESTMENT FUND
- FUNDIGROUP CLOSED REAL ESTATE INVESTMENT FUND
- FUNDOLIS CLOSED REAL ESTATE INVESTMENT FUND
- GEF II CLOSED REAL ESTATE INVESTMENT FUND
- REAL ESTATE INVESTMENT FUND GLOBAL FUND
- GRYPHON CAPITAL CLOSED REAL ESTATE INVESTMENT FUND
- IMOCOMERCIAL CLOSED REAL ESTATE INVESTMENT FUND
- REAL ESTATE INVESTMENT FUND IMOCONVENTO
- REAL ESTATE INVESTMENT FUND IMODESENVOLVIMENTO
- REAL ESTATE INVESTMENT FUND CLOSED IMOGESTÃO
- REAL ESTATE INVESTMENT FUND IMOIMPERIAL
- REAL ESTATE INVESTMENT FUND IMOPLANUS
- REAL ESTATE INVESTMENT FUND IMOPROMOÇÃO – PORTUGUESE REAL ESTATE DEVELOPMENT FUND
- REAL ESTATE INVESTMENT FUND CLOSED IMORENDA
- IMORENT CLOSED REAL ESTATE INVESTMENT FUND
- REAL ESTATE INVESTMENT FUND IMOSEDE
- REAL ESTATE INVESTMENT FUND LISFUND
- MULTINVEST CLOSED REAL ESTATE INVESTMENT FUND
- REAL ESTATE INVESTMENT FUND CLOSED QUINTA DA RIBEIRA
- REAL ESTATE INVESTMENT FUND CLOSED BUILDING INCOME
- SALINAS CLOSED REAL ESTATE INVESTMENT FUND
- SAUDEINVESTE CLOSED REAL ESTATE INVESTMENT FUND
- REAL ESTATE INVESTMENT FUND CLOSED SEVEN COLINAS
- CLOSED TOURIST REAL ESTATE INVESTMENT FUND
- TOURIST CLOSED REAL ESTATE INVESTMENT FUND II
- VILA GALÉ REAL ESTATE INVESTMENT FUND
- FUNDIMO REAL ESTATE INVESTMENT FUND
- SPECIAL REAL ESTATE INVESTMENT FUND – NB LOGÍSTICA
- SPECIAL REAL ESTATE INVESTMENT FUND IMOPOUPANÇA
- SPECIAL REAL ESTATE INVESTMENT FUND CLOSED IN URBAN REHABILITATION COIMBRA VIVA I
- EUROFUND SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- SPECIAL CLOSED FUND FOR REAL ESTATE INVESTMENT FUNDIESTAMO I
- GAIA DOURO SPECIAL REAL ESTATE INVESTMENT FUND
- SPECIAL REAL ESTATE INVESTMENT FUND IMOROCHA
- SPECIAL REAL ESTATE INVESTMENT FUND IMOSONAE TWO
- MAIA IMO CLOSED REAL ESTATE INVESTMENT FUND
- PORTO D’OURO CLOSED REAL ESTATE INVESTMENT FUND
- SPECIAL FUND FOR CLOSED REAL ESTATE INVESTMENT SÃO JOSÉ DE RIBAMAR
- SPECIAL CLOSED REAL ESTATE INVESTMENT FUND TEJO
- SPECIAL REAL ESTATE INVESTMENT FUND CLOSED WTC
- SPECIAL CLOSED FUND FOR REAL ESTATE INVESTMENT SERTORIUS
- CLN REAL ESTATE INVESTMENT FUND LCN – PORTUGUESE FUND 2
- CLOSED REAL ESTATE INVESTMENT FUND LCN PORTUGUESE FUND 1
- NATIONAL BUILDING REHABILITATION FUND – SPECIAL REAL ESTATE INVESTMENT FUND
- VIP FUND – PREDIAL VALUES AND INVESTMENTS, OPEN REAL ESTATE INVESTMENT FUND
- FUNGERE – REAL ESTATE MANAGEMENT FUND
- FUNSITA – CLOSED REAL ESTATE INVESTMENT FUND
- GESTIMO – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- MANAGEMENT – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- GFM PATRIMÓNIO – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- GFM RENDIMENTO – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- GUEBAR – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- HERDADE DA COMPORTA – CLOSED REAL ESTATE INVESTMENT FUND
- I MAROPE – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- IBÉRIA – SPECIAL CLOSED INVESTMENT FUND
- IBERIAN FOREST FUND – CLOSED FOREST SPECIAL FOREST INVESTMENT FUND
- IMOAL – CLOSED REAL ESTATE INVESTMENT FUND
- IMOARRUDA – CLOSED REAL ESTATE INVESTMENT FUND
- IMOCAIS – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- IMOCAR – CLOSED REAL ESTATE INVESTMENT FUND
- IMOCOTT – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- IMOFARMA – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- IMOFOMENTO – OPEN REAL ESTATE INVESTMENT FUND
- IMOINVESTIMENTO – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- IMOLUX – CLOSED REAL ESTATE INVESTMENT FUND
- IMOMARVÃS – CLOSED REAL ESTATE INVESTMENT FUND
- IMONOR – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- IMOPORTUGAL – CLOSED REAL ESTATE INVESTMENT FUND
- IMOPREDIAL – CLOSED REAL ESTATE INVESTMENT FUND
- IMOR-RECOVERY – REAL ESTATE INVESTMENT FUND
- IMOTUR – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- IMOURBE – CLOSED REAL ESTATE INVESTMENT FUND
- IMOVALORCA – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- IMOVALUE – SPECIAL REAL ESTATE INVESTMENT FUND
- IMOVEDRAS – CLOSED REAL ESTATE INVESTMENT FUND
- INOGI CAPITAL – SPECIAL CLOSED INVESTMENT FUND
- INSPIRAR – CLOSED REAL ESTATE INVESTMENT FUND
- INVESFUNDO – CLOSED REAL ESTATE INVESTMENT FUND
- INVESFUNDO II – CLOSED REAL ESTATE INVESTMENT FUND
- INVESFUND VII – CLOSED REAL ESTATE INVESTMENT FUND
- INVESURB – CLOSED REAL ESTATE INVESTMENT FUND
- JOSIBA FLORESTAL – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- LUCASFIN – SPECIAL CLOSED INVESTMENT FUND
- LUSIMOVEST – REAL ESTATE INVESTMENT FUND
- LUSOFUNDO – CLOSED REAL ESTATE INVESTMENT FUND
- MARATHON – CLOSED REAL ESTATE INVESTMENT FUND
- MAXIRENT – CLOSED REAL ESTATE INVESTMENT FUND
- MONTEPIO ARRENDAMENTO – REAL ESTATE INVESTMENT FUND FOR HOUSING RENTALS
- MONTEPIO ARRENDAMENTO II – HOUSING RENTAL INVESTMENT FUND
- MONTEPIO ARRENDAMENTO III – HOUSING ARRENDING REAL ESTATE INVESTMENT FUND
- MULTIUSOS ORIENTE – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- NATURA – CLOSED REAL ESTATE INVESTMENT FUND
- NB ALTA VISTA – CLOSED REAL ESTATE INVESTMENT FUND
- NB ARRENDAMENTO – REAL ESTATE INVESTMENT FUND CLOSED FOR HOUSING RENTALS
- NB ASSETS
- NEUDELINVESTE – CLOSED REAL ESTATE SPECIAL INVESTMENT FUND
- NOVIMOVE – CLOSED REAL ESTATE INVESTMENT FUND
- NOVIMOVEST – CLOSED REAL ESTATE INVESTMENT FUND
- OCEÂNICO II – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- OCEÂNICO III – SPECIAL CLOSED INVESTMENT FUND
- OFFICE PARK EXPO – CLOSED REAL ESTATE INVESTMENT FUND
- OLISSIPO – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- OPPORTUNITY – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- REAL ESTATE INVESTMENT AGENCY CLOSED IMOMARINAS
- OPEN REAL ESTATE INVESTMENT AGENCY
- IMOREAL CLOSED REAL ESTATE INVESTMENT AGENCY
- POLARIS – CLOSED REAL ESTATE INVESTMENT FUND
- PORTUGAL ESTATES FUND (PEF) – CLOSED PRIVATE INVESTMENT FUND
- PORTUGUESE PRIME PROPERTY BOX – CLOSED REAL ESTATE INVESTMENT FUND
- PREDICAIMA – CLOSED REAL ESTATE INVESTMENT FUND
- PREDICAPITAL – CLOSED SPECIAL INVESTMENT FUND
- PREDILOC CAPITAL – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- PRIME VALUE – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- FIRST ATLANTIC FOREST FUND – SPECIAL FOREST REAL ESTATE INVESTMENT FUND CLOSED
- PRÍNCIPE REAL URBAN REHABILITATION FUND – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- PROMOFUNDO – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- PROPERTY CORE REAL ESTATE FUND – OPEN REAL ESTATE INVESTMENT FUND
- QUINTA DA OMBRIA – SPECIAL CLOSED FUND FOR REAL ESTATE INVESTMENT
- REAL ADDED VALUE PN – CLOSED REAL ESTATE INVESTMENT FUND
- RENDIFUNDO – CLOSED REAL ESTATE INVESTMENT FUND
- RETAIL PROPERTIES – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- SAND CAPITAL – SPECIAL FUND FOR REAL ESTATE INVESTMENT CLOSED
- LEASE SOLUTION – CLOSED REAL ESTATE INVESTMENT FUND FOR HOUSING LEASE
- STONE CAPITAL – SPECIAL CLOSED REAL ESTATE INVESTMENT FUND
- LOW DENSITY TERRITORIES – SPECIAL FUND FOR CLOSED TOURISM REAL ESTATE INVESTMENT
- TRINDADE – CLOSED REAL ESTATE INVESTMENT FUND
- TURIRENT – CLOSED REAL ESTATE INVESTMENT FUND
- UNICAMPUS – SPECIAL CLOSED INVESTMENT FUND
- PRIME VALUE OPEN REAL ESTATE INVESTMENT FUND
2. Venture Capital Funds
Venture capital funds are pooled investment funds that manage the money of investors who seek private equity stakes in startups
- ActiveCap I – Portuguese Growth Fund, FCR
- ActiveCap I – Portuguese Growth Fund R&D, FCR
- ADMAR, FCR
- ALBATROSS – RISK CAPITAL FUND
- AMCORP – RISK CAPITAL FUND
- ASK CAPITAL – RISK CAPITAL FUND
- ASK CELTA – RISK CAPITAL FUND
- ATENA I – RISK CAPITAL FUND
- Athena II – Venture Capital Fund
- ATLANTIC VIA, RISK CAPITAL FUND
- BANIF GLOBAL PRIVATE EQUITY FUND – FCR
- BANIF PORTUGAL GROWTH – RISK CAPITAL FUND
- BLUE CATCHING STARTFIRST, FCR
- BLUECROW GROWTH FUND I, FCR
- BLUECROW IMPACT FUND, FCR
- BLUECROW INNOVATION FUND I, FCR
- BLUECROW INNOVATION FUND II, FCR
- BLUECROW INNOVATION FUND III, FCR
- BLUECROW INNOVATION FUNF IV, FCR
- BLUECROW NORTHERN FUND I, FCR
- BRIGHT TECH INNOVATION I – RISK CAPITAL FUND
- BRIGHT VECTOR I – RISK CAPITAL FUND
- BOX GROWTH, FCR
- CAPITALVES SIFIDE, FCR
- COLUMBUS CAPITAL – RISK CAPITAL FUND
- CORE RESTART – FCR
- CREST I – FCR
- CREST II – FCR
- Crown Capital (FCR)
- CV CAPITAL – RISK CAPITAL FUND
- C2 R&D GROWTH V
- EAST WEST VC – RISK CAPITAL FUND
- EDMONT CAPITAL – RISK CAPITAL FUND
- EDP CLEANTECH, FCR
- CAPITAL I COURSE I, FCR
- ERIGO I – RISK CAPITAL FUND
- ERIGO VII – RISK CAPITAL FUND
- SCOTLAND – RISK CAPITAL FUND
- ESPÍRITO SANTO IBERIA I – RISK CAPITAL FUND
- EXPLORER GROWTH FUND II, FCR
- EXPLORER GROWTH FUND III, FCR
- EXPLORER II – RISK CAPITAL FUND
- EXPLORER III – RISK CAPITAL FUND
- EXPLORER IV – RISK CAPITAL FUND
- FABER TECH II – RISK CAPITAL FUND
- FCR – PME / NOVO BANCO
- FCR ARMILAR VENTURE PARTNERS II
- FCR ARMILAR VENTURE PARTNERS III
- FCR ARMILAR VENTURE PARTNERS TECHTRANSFER FUND
- FCR ARMILAR VENTURES PARTNERS CONTINUITY FUND
- FCR BA VENTURE FUND
- FCR BLACK BULL
- FCR CREATIVE CAPITAL III
- FCR CREATIVE CAPITAL IV
- FCR C2 MEDCAPITAL
- FCR C2 R&D VII
- FCR ISTART I
- FCR LEADING VENTURES
- FCR PORTUGAL VENTURES TOURISM
- FCR REVITALIZE CENTER
- FCR REVITALIZE NORTH
- FCR REVITALIZAR SOUTH
- ALBUQUERQUE FUND – FCR
- AQUARIUS FUND, FCR
- WELL COMMON FUND, FCR
- PORTUGAL GATEWAY RISK CAPITAL FUND
- FUND CARAVELA – RISK CAPITAL FUND
- COMETA FUND, FCR
- RISK CAPITAL FUND ISQ CAPITAL BRASIL SUATENTÁVEL
- ARMILAR RISK CAPITAL FUND VENTURE PARTNERS INNOVATION AND INTERNATIONALIZATION
- AZORES VENTURES RISK CAPITAL FUND
- BES SME CAPITAL GROWTH RISK CAPITAL FUND
- RISK CAPITAL FUND BETA LIFE SCIENCES
- BETA INNOVATION RISK CAPITAL FUND
- CAPITAL RISK CAPITAL FUND FUNDS
- CREATIVE CAPITAL RISK CAPITAL FUND I
- DRAYCOTT RISK CAPITAL FUND
- RISK CAPITAL FUND ENTREPRENEUR MORE – CAIXA CAPITAL
- GOLDEN VENTURE CAPITAL RISK CAPITAL FUND
- LANCASTER RISK CAPITAL FUND
- RISK CAPITAL FUND LC VENTURES I
- NAVIGATOR RISK CAPITAL FUND
- NOVABASE CAPITAL RISK CAPITAL FUND + INNOVATION
- RISK CAPITAL FUND NOVABASE CAPITAL INNOVATION INTERNATIONALIZATION
- N5G RISK CAPITAL FUND
- PORTUGAL VENTURES BIOCANT RISK CAPITAL FUND
- RISK CAPITAL FUND PORTUGAL VENTURES EARLY STAGE
- PORTUGAL VENTURES GLOBAL RISK CAPITAL FUND 2
- PORTUGAL RISK CAPITAL FUND VENTURES LARGE INVESTMENT PROJECTS
- RISK CAPITAL FUND PORTUGAL VENTURES GROW AND EXPAND
- PORTUGAL VENTURES INDUSTRIAS CREATIVE RISK CAPITAL FUND
- PORTUGAL VENTURES RISK CAPITAL FUND INTERNATIONALIZATION
- PORTUGAL VENTURES TECH COMPETITIVENESS RISK CAPITAL FUND
- RISK CAPITAL FUND PORTUGAL VENTURES UNIVERSITAS
- PORTUGAL VENTURES VALUE RISK CAPITAL FUND 2
- SHILLING FOUNDERS FUND RISK CAPITAL FUND
- TRANSMISSION AND DISPOSAL RISK CAPITAL FUND
- TOURISM GROWTH RISK CAPITAL FUND
- VINTAGE RISK CAPITAL FUND
- PORTUGAL RISK CAPTAL FUND VENTURES TECHNOLOGY MARKETING ACCELERATOR II
- BUSINESS RESTRUCTURING FUND, FCR
- ENERGY FUND, FCR
- INTER RISK FUND II – RISK CAPITAL FUND
- INTER-RISK FUND II CI – RISK CAPITAL FUND
- JÚPITER FUND, FCR
- RECOVERY FUND, FCR
- TOURISM RECOVERY FUND, FCR
- SATURNAL FUND – GENERALIST, FCR
- SATURN FUND – STRENGTHENING OF TRAINING, FCR
- FUND SC1 – RISK CAPITAL FUND
- GOLDEN BRIDGE – FCR
- GREENPOWER – RISK CAPITAL FUND
- GREYTECH FUND, FCR
- GROWTH INOV, FCR
- GROWTH ONE – RISK CAPITAL FUND
- HAITONG INFRASTRUCTURE FUND – I – RISK CAPITAL FUND
- HCAPITAL NEW IDEAS – FCR
- IBERIS BLUETECH FUND, FCR, EuVECA
- IBERIS BLUETECH FUND II FCR
- IBERIS GREENTECH, FCR
- IBERIS GREYTECH II FUND, FCR
- IDI MEDICAL FUND, FCR
- IMPACTO PORTUGAL FUND, FCR
- INCEPTION I, FCR
- INDICO ACCELERATION FUND I – FCR
- INDICO VC FUND I – RISK CAPITAL FUND
- ISQ CAPITAL – RISK CAPITAL FUND
- JOYN VENTURES – RISK CAPITAL FUND
- JWP GOLDEN FUND, FCR
- LACEWOOD FUND, FCR
- LIG1 – RISK CAPITAL FUND
- LINCE INNOVATION FUND, FCR
- LNMK HOSPITALITY CAPITAL – RISK CAPITAL FUND
- LUSO-PANNON VC – EUROPEAN RISK CAPITAL FUND / EuVECA
- Magalhães Investment Fund
- MC COMPARTMENTS I, FCR
- MILLENNIUM CAPITALIZATION FUND, FCR
- MY INNOVATION AND INTERNATIONALIZATION FCR
- MONARQUE PORTUGAL L1 FUND
- MONARQUE PORTUGAL L2 FUND, FCR
- MONDEGO INVEST RISK CAPITAL FUND
- NAVIGATOR II – RISK CAPITAL FUND
- NEST CAPITAL FUND – RISK CAPITAL FUND
- NEW EDGE
- NEXT, FCR
- NEXT TECH FUND I FCR
- NOVABASE CAPITAL – RISK CAPITAL FUND
- OXY CAPITAL II, FCR
- OXY CAPITAL INNOVATION, FCR
- OXY CAPITAL MEZZANINE CO-INVESTMENT FACILITY, FCR
- OXY CAPITAL MEZZANINE CO-INVESTMENT FACILITY II, FCR
- OXYCAPITAL MEZZANINE FUND – RISK CAPITAL FUND
- PEEIF – PORTUGUESE ENERGY EFFICIENCY INVESTMENT FUND – RISK CAPITAL FUND
- PHYXIUS – RISK CAPITAL FUND
- CAPITAL PLANALTO – RISK CAPITAL FUND
- PORTUGAL OPPORTUNITIES FUND – RISK CAPITAL FUND
- PORTUGAL RESTRUCTURING FUND, FCR
- Portugal Yield Fund – FCR
- PT CO INNOVATION – RISK CAPITAL FUND
- REAL CAPITAL – RISK CAPITAL FUND
- REBELLO – RISK CAPITAL FUND
- REDWOOD FUND, FCR
- ROCK CAPITAL INVESTMENTS RCI – RISK CAPITAL FUND
- ROSEWOOD, FCR
- SANDALWOOD FUND, FCR
- SANTA GEMA – RISK CAPITAL FUND
- SIF INVESTMENT FUNDS – RISK CAPITAL FUND
- SOPHIA CAPITAL – RISK CAPITAL FUND
- STAKECORP – RISK CAPITAL FUND
- SUSTAINABLE INNOVATION I, FCR
- TECHTREE, FCR
- TIM CAPITAL – RISK CAPITAL FUND
- VALLIS SUSTAINABLE INVESTMENTS II – RISK CAPITAL FUND
- VEGA, FCR
- VILLANOVA – RISK CAPITAL FUND
- VIRIATUS FUND, FCR
- WEST SIDE CAPITAL – RISK CAPITAL FUND
- 3XM – RISK CAPITAL FUND
3. Securities Investment Funds
A security is a fungible, negotiable financial instrument that represents some type of financial value, usually in the form of a stock, bond, or option. There are five main categories of securities investment funds: treasury funds, bond funds, equity funds, mixed funds and funds of funds.
- ActiveCap I – Portuguese Growth Fund, FCR
- ActiveCap I – Portuguese Growth Fund R&D, FCR
- ADMAR, FCR
- ALBATROSS – RISK CAPITAL FUND
- AMCORP – RISK CAPITAL FUND
- ASK CAPITAL – RISK CAPITAL FUND
- ASK CELTA – RISK CAPITAL FUND
- ATENA I – RISK CAPITAL FUND
- Athena II – Venture Capital Fund
- ATLANTIC VIA, RISK CAPITAL FUND
- BANIF GLOBAL PRIVATE EQUITY FUND – FCR
- BANIF PORTUGAL GROWTH – RISK CAPITAL FUND
- BLUE CATCHING STARTFIRST, FCR
- BLUECROW GROWTH FUND I, FCR
- BLUECROW IMPACT FUND, FCR
- BLUECROW INNOVATION FUND I, FCR
- BLUECROW INNOVATION FUND II, FCR
- BLUECROW INNOVATION FUND III, FCR
- BLUECROW INNOVATION FUNF IV, FCR
- BLUECROW NORTHERN FUND I, FCR
- BRIGHT TECH INNOVATION I – RISK CAPITAL FUND
- BRIGHT VECTOR I – RISK CAPITAL FUND
- BOX GROWTH, FCR
- CAPITALVES SIFIDE, FCR
- COLUMBUS CAPITAL – RISK CAPITAL FUND
- CORE RESTART – FCR
- CREST I – FCR
- CREST II – FCR
- Crown Capital (FCR)
- CV CAPITAL – RISK CAPITAL FUND
- C2 R&D GROWTH V
- EAST WEST VC – RISK CAPITAL FUND
- EDMONT CAPITAL – RISK CAPITAL FUND
- EDP CLEANTECH, FCR
- CAPITAL I COURSE I, FCR
- ERIGO I – RISK CAPITAL FUND
- ERIGO VII – RISK CAPITAL FUND
- SCOTLAND – RISK CAPITAL FUND
- ESPÍRITO SANTO IBERIA I – RISK CAPITAL FUND
- EXPLORER GROWTH FUND II, FCR
- EXPLORER GROWTH FUND III, FCR
- EXPLORER II – RISK CAPITAL FUND
- EXPLORER III – RISK CAPITAL FUND
- EXPLORER IV – RISK CAPITAL FUND
- FABER TECH II – RISK CAPITAL FUND
- FCR – PME / NOVO BANCO
- FCR ARMILAR VENTURE PARTNERS II
- FCR ARMILAR VENTURE PARTNERS III
- FCR ARMILAR VENTURE PARTNERS TECHTRANSFER FUND
- FCR ARMILAR VENTURES PARTNERS CONTINUITY FUND
- FCR BA VENTURE FUND
- FCR BLACK BULL
- FCR CREATIVE CAPITAL III
- FCR CREATIVE CAPITAL IV
- FCR C2 MEDCAPITAL
- FCR C2 R&D VII
- FCR ISTART I
- FCR LEADING VENTURES
- FCR PORTUGAL VENTURES TOURISM
- FCR REVITALIZE CENTER
- FCR REVITALIZE NORTH
- FCR REVITALIZAR SOUTH
- ALBUQUERQUE FUND – FCR
- AQUARIUS FUND, FCR
- WELL COMMON FUND, FCR
- PORTUGAL GATEWAY RISK CAPITAL FUND
- FUND CARAVELA – RISK CAPITAL FUND
- COMETA FUND, FCR
- RISK CAPITAL FUND ISQ CAPITAL BRASIL SUATENTÁVEL
- ARMILAR RISK CAPITAL FUND VENTURE PARTNERS INNOVATION AND INTERNATIONALIZATION
- AZORES VENTURES RISK CAPITAL FUND
- BES SME CAPITAL GROWTH RISK CAPITAL FUND
- RISK CAPITAL FUND BETA LIFE SCIENCES
- BETA INNOVATION RISK CAPITAL FUND
- CAPITAL RISK CAPITAL FUND FUNDS
- CREATIVE CAPITAL RISK CAPITAL FUND I
- DRAYCOTT RISK CAPITAL FUND
- RISK CAPITAL FUND ENTREPRENEUR MORE – CAIXA CAPITAL
- GOLDEN VENTURE CAPITAL RISK CAPITAL FUND
- LANCASTER RISK CAPITAL FUND
- RISK CAPITAL FUND LC VENTURES I
- NAVIGATOR RISK CAPITAL FUND
- NOVABASE CAPITAL RISK CAPITAL FUND + INNOVATION
- RISK CAPITAL FUND NOVABASE CAPITAL INNOVATION INTERNATIONALIZATION
- N5G RISK CAPITAL FUND
- PORTUGAL VENTURES BIOCANT RISK CAPITAL FUND
- RISK CAPITAL FUND PORTUGAL VENTURES EARLY STAGE
- PORTUGAL VENTURES GLOBAL RISK CAPITAL FUND 2
- PORTUGAL RISK CAPITAL FUND VENTURES LARGE INVESTMENT PROJECTS
- RISK CAPITAL FUND PORTUGAL VENTURES GROW AND EXPAND
- PORTUGAL VENTURES INDUSTRIAS CREATIVE RISK CAPITAL FUND
- PORTUGAL VENTURES RISK CAPITAL FUND INTERNATIONALIZATION
- PORTUGAL VENTURES TECH COMPETITIVENESS RISK CAPITAL FUND
- RISK CAPITAL FUND PORTUGAL VENTURES UNIVERSITAS
- PORTUGAL VENTURES VALUE RISK CAPITAL FUND 2
- SHILLING FOUNDERS FUND RISK CAPITAL FUND
- TRANSMISSION AND DISPOSAL RISK CAPITAL FUND
- TOURISM GROWTH RISK CAPITAL FUND
- VINTAGE RISK CAPITAL FUND
- PORTUGAL RISK CAPTAL FUND VENTURES TECHNOLOGY MARKETING ACCELERATOR II
- BUSINESS RESTRUCTURING FUND, FCR
- ENERGY FUND, FCR
- INTER RISK FUND II – RISK CAPITAL FUND
- INTER-RISK FUND II CI – RISK CAPITAL FUND
- JÚPITER FUND, FCR
- RECOVERY FUND, FCR
- TOURISM RECOVERY FUND, FCR
- SATURNAL FUND – GENERALIST, FCR
- SATURN FUND – STRENGTHENING OF TRAINING, FCR
- FUND SC1 – RISK CAPITAL FUND
- GOLDEN BRIDGE – FCR
- GREENPOWER – RISK CAPITAL FUND
- GREYTECH FUND, FCR
- GROWTH INOV, FCR
- GROWTH ONE – RISK CAPITAL FUND
- HAITONG INFRASTRUCTURE FUND – I – RISK CAPITAL FUND
- HCAPITAL NEW IDEAS – FCR
- IBERIS BLUETECH FUND, FCR, EuVECA
- IBERIS BLUETECH FUND II FCR
- IBERIS GREENTECH, FCR
- IBERIS GREYTECH II FUND, FCR
- IDI MEDICAL FUND, FCR
- IMPACTO PORTUGAL FUND, FCR
- INCEPTION I, FCR
- INDICO ACCELERATION FUND I – FCR
- INDICO VC FUND I – RISK CAPITAL FUND
- ISQ CAPITAL – RISK CAPITAL FUND
- JOYN VENTURES – RISK CAPITAL FUND
- JWP GOLDEN FUND, FCR
- LACEWOOD FUND, FCR
- LIG1 – RISK CAPITAL FUND
- LINCE INNOVATION FUND, FCR
- LNMK HOSPITALITY CAPITAL – RISK CAPITAL FUND
- LUSO-PANNON VC – EUROPEAN RISK CAPITAL FUND / EuVECA
- Magalhães Investment Fund
- MC COMPARTMENTS I, FCR
- MILLENNIUM CAPITALIZATION FUND, FCR
- MY INNOVATION AND INTERNATIONALIZATION FCR
- MONARQUE PORTUGAL L1 FUND
- MONARQUE PORTUGAL L2 FUND, FCR
- MONDEGO INVEST RISK CAPITAL FUND
- NAVIGATOR II – RISK CAPITAL FUND
- NEST CAPITAL FUND – RISK CAPITAL FUND
- NEW EDGE
- NEXT, FCR
- NEXT TECH FUND I FCR
- NOVABASE CAPITAL – RISK CAPITAL FUND
- OXY CAPITAL II, FCR
- OXY CAPITAL INNOVATION, FCR
- OXY CAPITAL MEZZANINE CO-INVESTMENT FACILITY, FCR
- OXY CAPITAL MEZZANINE CO-INVESTMENT FACILITY II, FCR
- OXYCAPITAL MEZZANINE FUND – RISK CAPITAL FUND
- PEEIF – PORTUGUESE ENERGY EFFICIENCY INVESTMENT FUND – RISK CAPITAL FUND
- PHYXIUS – RISK CAPITAL FUND
- CAPITAL PLANALTO – RISK CAPITAL FUND
- PORTUGAL OPPORTUNITIES FUND – RISK CAPITAL FUND
- PORTUGAL RESTRUCTURING FUND, FCR
- Portugal Yield Fund – FCR
- PT CO INNOVATION – RISK CAPITAL FUND
- REAL CAPITAL – RISK CAPITAL FUND
- REBELLO – RISK CAPITAL FUND
- REDWOOD FUND, FCR
- ROCK CAPITAL INVESTMENTS RCI – RISK CAPITAL FUND
- ROSEWOOD, FCR
- SANDALWOOD FUND, FCR
- SANTA GEMA – RISK CAPITAL FUND
- SIF INVESTMENT FUNDS – RISK CAPITAL FUND
- SOPHIA CAPITAL – RISK CAPITAL FUND
- STAKECORP – RISK CAPITAL FUND
- SUSTAINABLE INNOVATION I, FCR
- TECHTREE, FCR
- TIM CAPITAL – RISK CAPITAL FUND
- VALLIS SUSTAINABLE INVESTMENTS II – RISK CAPITAL FUND
- VEGA, FCR
- VILLANOVA – RISK CAPITAL FUND
- VIRIATUS FUND, FCR
- WEST SIDE CAPITAL – RISK CAPITAL FUND
- 3XM – RISK CAPITAL FUND
Source: CMVM Portugal
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