Portugal Investment Funds: A Rapidly Evolving Ecosystem
Portugal's investment fund sector has expanded materially in recent years. Regulatory reform, increased private market activity, and growing international participation have contributed to the launch of numerous new fund managers and investment vehicles across private equity, venture capital, and regulated collective investment structures.
The number of authorised management entities and funds registered with the CMVM has increased significantly over a short period (see charts below). This expansion reflects both capital inflows and structural changes within the domestic market.
Distribution of Fund Managers by Registration Year
Distribution of Funds by Start Year
The table below lists investment funds and management entities authorised by the CMVM. This includes vehicles with different mandates, liquidity profiles, and investor eligibility criteria.
Regulatory authorisation does not imply suitability for all investors, nor does it imply eligibility under specific programmes. These aspects must be assessed individually.
Market Growth and the Need for Structured Evaluation
The rapid expansion of the Portuguese fund ecosystem has increased opportunity — but also dispersion in experience, governance quality, and structural robustness.
Many recently launched funds have limited operating history. Strategies vary widely in sector focus, concentration risk, liquidity mechanics, and fee design.
In such an environment, structured analysis becomes essential. Typical areas of evaluation include:
- Management experience and historical execution
- Governance framework and transparency
- Incentive alignment and fee structure
- Portfolio construction and concentration risk
- Liquidity profile and statutory constraints
As supply increases, comparability becomes more important than promotion.
Our Current Analytical Coverage
At present, our proprietary database focuses specifically on Portuguese funds that meet Golden Visa eligibility requirements.
This focused coverage reflects the needs of internationally mobile investors using Portugal as part of a broader diversification strategy. Within that subset, we apply consistent analytical criteria across vehicles, examining structure, incentives, governance, and risk.
Our current database does not cover the entire Portuguese fund universe. It provides structured analysis within a defined regulatory and investor context.
Over time, our broader research continues to examine the Portuguese fund ecosystem more widely, but our systematic database coverage remains program-specific at this stage.
Complete CMVM-Authorised List
Below is the full list of investment funds and management entities authorised by the CMVM in Portugal.
This list reflects regulatory authorisation only. It does not imply investment quality, suitability, or eligibility under any specific programme.
Access to our structured analytical coverage is available separately.
Filters
Fund Manager
Fund
Showing 143 entities with matching funds
| Funds | Entity Name | Headquarters | Fiscal Number | Shareholder's Equity | Registration Date | Type | Number of Funds |
|---|---|---|---|---|---|---|---|
| 2BPartner - Sociedade de Capital de Risco, S.A. | BRAGA | 508350042 | €750 000 | 04/07/2008 | SCR | 1 | |
| 3 Comma Capital SCR, S.A. | LISBOA | 516965476 | €125 000 | 11/11/2022 | SCR | 9 | |
| 33N Ventures, SCR, S.A. | PORTO | 517092808 | €50 000 | 23/09/2025 | SCR | 8 | |
| 3XP Global - SCR, S.A. | LISBOA | 515075590 | €185 000 | 27/11/2019 | SCR | 6 | |
| Above Capital - SCR, S.A. | LISBOA | 516777734 | €125 000 | 14/07/2022 | SCR | 10 | |
| ActiveCap - Capital Partners SCR, S.A. | LISBOA | 514948884 | €175 000 | 09/07/2019 | SCR | 7 | |
| Admar, SCR, S.A. | ESTORIL | 515682420 | €125 000 | 13/08/2020 | SCR | 4 | |
| Alea Capital Partners, SCR, S.A. | LISBOA | 516443046 | €125 000 | 02/12/2021 | SCR | 4 | |
| Alpac Capital - Sociedade de Capital de Risco, S.A. | PORTO | 513891072 | €125 000 | 24/11/2016 | SCR | 4 | |
| Altos Equity Partners SCR S.A. | LISBOA | 517316331 | €125 000 | 10/08/2023 | SCR | 2 | |
| Aqua Partners Asset Management - SCR, S.A. | LISBOA | 517302152 | €200 000 | 10/08/2023 | SCR | 3 | |
| Armilar Venture Partners - SCR S.A. | LISBOA | 507527909 | €750 000 | 11/05/2006 | SCR | 11 | |
| Atena Equity Partners - Sociedade de Capital de Risco, S.A. | LISBOA | 513046488 | €125 000 | 11/07/2014 | SCR | 4 | |
| Atlantic - SGOIC, S.A. | PORTO | 507334167 | 01/06/2006 | SGOIC - Large | 23 | ||
| Atlantic Premium Capital Partners - SCR, S.A. | PAÇO DE ARCOS | 515544361 | €125 000 | 16/01/2020 | SCR | 7 | |
| August One Capital, SCR, S.A. | SÃO ROQUE DO PICO | 517760908 | €125 000 | 26/01/2024 | SCR | 1 | |
| Bem Comum - Sociedade de Capital de Risco, S.A. | LISBOA | 509279228 | €250 000 | 10/02/2011 | SCR | 1 | |
| Beta - Sociedade de Capital de Risco, S.A. | PORTO | 506700100 | €1 651 915 | 14/01/2004 | SCR | 9 | |
| Biovance Capital Partners, Sociedade de Capital de Risco, S.A. | LISBOA | 517225948 | €125 000 | 23/02/2024 | SCR | 1 | |
| Biven Capital Partners - SCR S.A. | BRAGA | 517387964 | €125 000 | 09/02/2024 | SCR | 1 | |
| BIZ Capital - SGOIC, S.A. | LISBOA | 509753540 | €250 000 | 30/07/2020 | SGOIC - Large | 14 | |
| Blue Catching - Sociedade de Capital de Risco, S.A. | LISBOA | 510857310 | €125 000 | 24/07/2014 | SCR | 1 | |
| Blue Marlin Asset Management - SCR, S.A. | PORTO | 516442929 | €125 000 | 18/11/2021 | SCR | 3 | |
| Bluecrow - Sociedade de Capital de Risco, S.A. | LISBOA | 514046031 | €150 000 | 16/08/2016 | SCR | 18 | |
| BPI Gestão de Ativos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 502443022 | 29/07/1991 | SGOIC - Large | 83 | ||
| Bright Ventures Capital, SCR, S.A. | MAIA | 514058129 | €8 125 000 | 16/12/2016 | SCR | 2 | |
| Buenavista Equity Partners Portugal, SCR, S.A. | LISBOA | 516343149 | €125 000 | 09/07/2021 | SCR | 2 | |
| Bynd Venture Capital, SCR, S.A. | LISBOA | 513526870 | €475 000 | 23/07/2015 | SCR | 4 | |
| C2 Capital Partners - SGOIC, S.A. | LISBOA | 509103510 | €1 000 000 | 03/02/2025 | SGOIC - Large | 21 | |
| Caixa Capital - Sociedade de Capital de Risco, S.A. | LISBOA | 502525380 | €4 500 000 | 07/08/2003 | SCR | 10 | |
| Caixa Gestão de Ativos, SGOIC, S.A. | LISBOA | 502454563 | 29/07/1991 | SGOIC - Large | 155 | ||
| Casa de Investimentos - Gestão de Patrimónios e Fundos de Investimento - SGOIC, S.A. | BRAGA | 509126707 | 01/07/2010 | SGOIC - Large | 1 | ||
| Cedrus Atlantica - Sociedade de Capital de Risco, S.A. | LISBOA | 516148834 | €125 000 | 22/10/2020 | SCR | 15 | |
| Celtis Venture Partners - Sociedade de Capital de Risco, S.A. | LISBOA | 513494537 | €125 000 | 19/06/2015 | SCR | 10 | |
| Circle Capital - SGOIC, S.A. | LISBOA | 516212494 | 01/03/2023 | SGOIC - Small | 1 | ||
| Civilria Gestão de Ativos , SGOIC, S.A. | AVEIRO | 516445090 | 15/12/2022 | SGOIC - Large | 10 | ||
| Core Capital - Sociedade de Capital de Risco, S.A. | LISBOA | 514230983 | €200 000 | 22/02/2018 | SCR | 3 | |
| CP Investments, SCR, SA | LISBOA | 518460444 | €75 000 | 02/12/2024 | SCR | 5 | |
| Crédito Agrícola Gest - SGOIC, S.A. | LISBOA | 502124695 | 29/07/1991 | SGOIC - Large | 28 | ||
| Crest Capital Partners - Sociedade de Capital de Risco, S.A. | LISBOA | 514508418 | €125 000 | 19/10/2017 | SCR | 5 | |
| Critical Ventures - Sociedade de Capital de Risco, S.A. | COIMBRA | 508973341 | €350 000 | 30/07/2009 | SCR | 3 | |
| Draycott - SCR, S.A. | LISBOA | 515280780 | €130 000 | 22/08/2019 | SCR | 11 | |
| Eaglestone Capital Partners Sociedade Capital de Risco, S.A. | LISBOA | 516232886 | €125 000 | 09/02/2023 | SCR | 4 | |
| EDP Ventures- Sociedade de Capital de Risco, S.A. | LISBOA | 514051850 | €125 000 | 12/01/2017 | SCR | 2 | |
| Eragogest, SIC Imobiliária Fechada, S.A. | SANTO | 504258150 | 06/11/2025 | SIC - Small | 1 | ||
| Erigo - Sociedade de Capital de Risco, S.A. | LISBOA | 510074197 | €250 000 | 24/05/2012 | SCR | 3 | |
| Explorer Investments - Sociedade de Capital de Risco, S.A. | LISBOA | 506454584 | €750 000 | 26/06/2003 | SCR | 21 | |
| Faber Capital, SCR, S.A. | LISBOA | 515387819 | €125 000 | 23/07/2019 | SCR | 3 | |
| FGIPT Capital - SCR, S.A. | ALGÉS | 518344991 | €200 000 | 16/12/2024 | SCR | 5 | |
| Fidelidade - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 514757892 | 07/06/2018 | SGOIC - Large | 3 | ||
| Finprop Capital - SGOIC, S.A. | PORTO | 516546660 | 01/04/2023 | SGOIC - Large | 7 | ||
| Fomento - Fundos de Investimento Imobiliário, SGOIC, S.A. | LISBOA | 503511668 | 05/01/1996 | SGOIC - Small | 6 | ||
| Fortitude Capital - Sociedade de Capital de Risco, S.A. | LISBOA | 516503197 | €125 000 | 22/12/2021 | SCR | 3 | |
| Fozasset - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | PORTO | 518918360 | 09/09/2025 | SGOIC - Small | 1 | ||
| FSOIC Partners, SGOIC, S.A. | LISBOA | 516267817 | 29/12/2020 | SGOIC - Small | 2 | ||
| Fund Box - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 509875955 | 27/07/2012 | SGOIC - Large | 26 | ||
| Fundiestamo - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 505091500 | 28/09/2006 | SGOIC - Small | 5 | ||
| GEF - SGOIC, S.A. | LISBOA | 502318988 | 05/01/1996 | SGOIC - Large | 24 | ||
| Gesfimo - Espírito Santo Irmãos, SGOIC, S.A. | LISBOA | 502236000 | 05/01/1996 | SGOIC - Small | 16 | ||
| GFM Gestão de Ativos - SGOIC, S.A. | BRAGA | 516233696 | 29/12/2020 | SGOIC - Small | 3 | ||
| GK Capital, Sociedade de Capital de Risco, S.A. | SINTRA | 517304945 | €125 000 | 25/05/2023 | SCR | 4 | |
| GNB - Gestão de Ativos, Sociedade Gestora de Organismos de Investimento Coletivo S.A. | PORTO | 501882618 | 29/07/1991 | SGOIC - Large | 119 | ||
| Golden Monarque, SCR, S.A. | LISBOA | 513836985 | €125 000 | 09/02/2017 | SCR | 5 | |
| Grande Enseada Capital Partners, Sociedade de Capital de Risco, S.A. | ESTORIL | 513523910 | €187 000 | 06/08/2015 | SCR | 1 | |
| Green One Capital SCR, S. A. | LISBOA | 513885455 | €175 000 | 06/12/2016 | SCR | 14 | |
| Ground Capital SCR, S.A. | LISBOA | 518000257 | €75 000 | 11/03/2024 | SCR | 1 | |
| Growth Partners Capital - Sociedade de Capital de Risco, S.A. | CASCAIS | 513793186 | €125 000 | 07/07/2016 | SCR | 5 | |
| Haitong Global Asset Management, SGOIC S.A. | LISBOA | 502040246 | 21/02/2022 | SGOIC - Large | 17 | ||
| HCapital Partners, SCR, S.A. | LISBOA | 510674852 | €125 000 | 19/01/2017 | SCR | 3 | |
| Heed Capital SGOIC, S.A. | LISBOA | 506292622 | 06/10/2003 | SGOIC - Large | 16 | ||
| Horizon Equity Partners, SCR S.A. | LISBOA | 514396954 | €75 000 | 02/04/2025 | SCR | 1 | |
| Iberis Semper - Sociedade de Capital de Risco, S.A. | LISBOA | 514602635 | €125 000 | 08/02/2018 | SCR | 10 | |
| IM Gestão de Ativos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 502151889 | €1 000 000 | 29/07/1991 | SGOIC - Large | 131 | |
| Imofundos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | ALGÉS | 504801856 | 22/12/1999 | SGOIC - Small | 9 | ||
| Imopólis - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | CARNAXIDE | 503075183 | 05/01/1996 | SGOIC - Large | 5 | ||
| Imorendimento - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | PORTO | 502824840 | 05/01/1996 | SGOIC - Large | 13 | ||
| Índico Capital Partners - Sociedade de Capital de Risco, S.A. | LISBOA | 514486449 | €125 000 | 24/08/2017 | SCR | 7 | |
| INQBT Capital, SCR, S.A. | LISBOA | 516368222 | €125 000 | 25/11/2021 | SCR | 2 | |
| Insight Venture - Sociedade de Capital de Risco, S.A. | LISBOA | 516132911 | €166 666 | 29/04/2021 | SCR | 6 | |
| Insula Capital - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 501858458 | 05/01/1996 | SGOIC - Large | 29 | ||
| Interfundos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | PORTO | 507552881 | 19/04/2007 | SGOIC - Large | 50 | ||
| Invest Gestão de Activos - Sociedade Gestora de Organismos de Investimento Colectivo, S.A. | LISBOA | 504095021 | 26/11/1998 | SGOIC - Large | 7 | ||
| IR Capital SCR, S.A. | PORTO | 509432867 | €400 000 | 01/09/2010 | SCR | 7 | |
| ISQ - Sociedade de Capital de Risco, S.A. | LISBOA | 506279472 | €250 000 | 28/08/2003 | SCR | 9 | |
| Keytrust - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | BRAGA | 518790657 | 02/10/2025 | SGOIC - Small | 1 | ||
| Lagasca Asset Management - SGOIC, S.A. | LISBOA | 517966654 | 01/04/2024 | SGOIC - Large | 3 | ||
| Lean Company Ventures, SCR, S.A. | LISBOA | 513325611 | €125 000 | 29/06/2017 | SCR | 4 | |
| Legatum Gest, Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | PORTO | 515963054 | 29/10/2020 | SGOIC - Large | 15 | ||
| Libertas - SGOIC, S.A. | LISBOA | 508536790 | 29/10/2009 | SGOIC - Large | 6 | ||
| Lince Capital, SCR, S.A. | LISBOA | 513500707 | €125 000 | 14/07/2016 | SCR | 17 | |
| LYNX Asset Managers - SGOIC, S.A. | LISBOA | 507929934 | 17/09/2008 | SGOIC - Large | 146 | ||
| Magnify Capital Partners - Sociedade de Capital de Risco, S.A. | LISBOA | 515510190 | €287 437 | 27/12/2019 | SCR | 14 | |
| Menlo Capital - Sociedade de Capital de Risco, S.A. | ESTORIL | 510435548 | €250 000 | 20/03/2013 | SCR | 2 | |
| Montefino Capital SGOIC, S.A. | PORTO | 518330915 | 01/11/2024 | SGOIC - Small | 2 | ||
| Montepio Gestão de Activos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 502608722 | 06/02/1992 | SGOIC - Large | 33 | ||
| Mustard Seed Maze - Sociedade de Capital de Risco, S.A. | LISBOA | 515128503 | €125 000 | 02/11/2018 | SCR | 1 | |
| N2AM SGOIC, S.A. | LISBOA | 518258220 | 24/09/2024 | SGOIC - Large | 3 | ||
| Nativa Capital - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 507881761 | 18/10/2007 | SGOIC - Small | 4 | ||
| Nevada Investments SGOIC S.A. | LISBOA | 516767526 | 17/04/2024 | SGOIC - Small | 1 | ||
| Nexa SGOIC, S.A. | BRAGA | 518003248 | 06/09/2024 | SGOIC - Large | 3 | ||
| Norfin - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 500963312 | 30/09/1999 | SGOIC - Large | 27 | ||
| Novabase Capital - Sociedade de Capital de Risco, S.A. | LISBOA | 503086843 | €2 500 000 | 28/04/2004 | SCR | 3 | |
| Octanova, SCR, S.A | LISBOA | 516146130 | €125 000 | 31/03/2021 | SCR | 9 | |
| Onetier Partners, SCR, S.A. | LISBOA | 506744981 | €750 000 | 18/06/2004 | SCR | 3 | |
| Onon Partners - SCR, S.A. | SINTRA | 514107669 | €130 000 | 29/12/2020 | SCR | 2 | |
| Optimize Investment Partners - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 508181321 | €450 772 | 03/09/2008 | SGOIC - Large | 16 | |
| OW Ventures SCR, S.A. | LISBOA | 517980088 | €125 | 27/03/2024 | SCR | 4 | |
| Oxy Capital - SGOIC, S.A. | LISBOA | 510064760 | €750 000 | 23/11/2021 | SGOIC - Large | 31 | |
| P32 Capital, SGOIC, S.A. | SENHORA DA HORA | 518180336 | 01/08/2024 | SGOIC - Small | 8 | ||
| Phyxius, SCR, S.A. | PORTO | 513983953 | €125 000 | 25/05/2017 | SCR | 2 | |
| PICF, SGOIC, S.A. | LISBOA | 517360314 | 03/04/2023 | SGOIC - Large | 5 | ||
| Plural Markets Gestão de Ativos - Sociedade de Capital de Risco, SA | LISBOA | 517869675 | €700 000 | 27/03/2024 | SCR | 2 | |
| Point Capital Partners, SGOIC, S.A. | LISBOA | 516388568 | 09/09/2025 | SGOIC - Large | 9 | ||
| Portugal Capital Ventures - Sociedade de Capital de Risco,S.A. | PORTO | 502206128 | €40 412 650 | 17/07/2003 | SCR | 32 | |
| Predipalma - SIC Imobiliária Fechada, S.A. | MAIA | 504705563 | 01/06/2023 | SIC - Small | 1 | ||
| Profile - Sociedade Gestora de Organismos de Investimento Colectivo, S.A. | ALGÉS | 502603046 | 07/11/1991 | SGOIC - Small | 46 | ||
| Quadrantis Capital - Sociedade de Capital de Risco, S.A. | LISBOA | 513328467 | €125 000 | 03/12/2015 | SCR | 18 | |
| Refundos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 502913290 | 05/01/1996 | SGOIC - Large | 15 | ||
| Rimon Investments - SGOIC, S.A. | LISBOA | 516898264 | 01/08/2022 | SGOIC - Small | 3 | ||
| Rockmark Asset Management, SGOIC, S.A. | LISBOA | 517798379 | 29/01/2024 | SGOIC - Large | 2 | ||
| Santander Asset Management - SGOIC, S.A. | LISBOA | 502330597 | 29/07/1991 | SGOIC - Large | 142 | ||
| Sierra IG, SGOIC,S.A. | MAIA | 516614347 | 22/09/2021 | SGOIC - Large | 12 | ||
| SILAR - Sociedade de Investimento Coletivo Fechado do Tipo Alternativo Imobiliário, SA | ALGÉS | 515095796 | 23/11/2018 | SIC - Small | 1 | ||
| Silvip - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 501870423 | 05/01/1996 | SGOIC - Large | 5 | ||
| Sixty Degrees - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 515373508 | 07/08/2019 | SGOIC - Large | 9 | ||
| Southcap- SGOIC, S.A. | LISBOA | 516983865 | 01/09/2022 | SGOIC - Large | 7 | ||
| SPX Portugal, SGOIC, S.A. | CASCAIS | 516642766 | 01/04/2024 | SGOIC - Large | 1 | ||
| Square Asset Management - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 502388811 | 05/01/1996 | SGOIC - Large | 13 | ||
| Statusdesafio Capital - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | LISBOA | 514295597 | 19/07/2018 | SGOIC - Large | 23 | ||
| The Lakhani Group Capital SGOIC, S.A. | LISBOA | 516326880 | 13/04/2021 | SGOIC - Small | 4 | ||
| Theron Capital Asset Management, SCR, S.A. | LISBOA | 518622738 | €75 000 | 23/04/2025 | SCR | 1 | |
| Today For Tomorrow - SGOIC, S.A. | LISBOA | 517716240 | 24/01/2024 | SGOIC - Large | 1 | ||
| Touro Capital Partners - SCR, S.A. | LISBOA | 516058258 | €125 000 | 25/03/2021 | SCR | 4 | |
| Valadim Investimentos - SIC Imobiliária Fechada, SA | PÓVOA | 504286854 | 01/04/2022 | SIC - Small | 1 | ||
| Vallis Capital Partners - SCR, S.A. | PORTO | 510089453 | €2 250 000 | 30/08/2012 | SCR | 1 | |
| Ventures.EU - SCR, S.A. | LISBOA | 517821672 | €125 000 | 19/12/2023 | SCR | 1 | |
| Vesuviana - SIC Imobiliária Fechada , S.A. | LISBOA | 504747169 | 20/10/2025 | SIC - Small | 1 | ||
| Vibecap - SCR, S.A. | ALGÉS | 517549301 | €125 000 | 24/08/2023 | SCR | 2 | |
| Vila Galé Gest - SGOIC, S.A. | PAÇO DE ARCOS | 503065781 | 05/01/1996 | SGOIC - Small | 1 | ||
| Violas Ferreira - SIC Imobiliária Fechada, S.A. | PORTO | 500529426 | 11/02/2019 | SIC - Small | 1 | ||
| Waterside Asset Management - Sociedade Gestora de Organismos de Investimento Coletivo, S.A. | CASCAIS | 518494977 | 06/01/2025 | SGOIC - Small | 1 | ||
| YUNIT Capital Partners, SCR, S.A. | LISBOA | 517644541 | €75 000 | 28/11/2023 | SCR | 1 | |
| Zume - SIC Imobiliária Fechada, S.A. | LISBOA | 506699323 | 01/05/2025 | SIC - Small | 1 |