With a track record of over 20 years leading the Private Equity market in Portugal, Explorer Investments has become the institutional platform of choice for investors seeking more than just market exposure: they seek active value creation. With investment solutions that cater to both Golden Visa (€500,000) and capital growth investors (from €250,000), Explorer solidifies its position as the most solid strategic partner in Portugal.
≈ €1.8B
Assets Under Management
20+ years
Track Record
€500,000
Golden Visa Minimum
ARI Program Requirement
€250,000
Growth Fund Minimum
For non-GV Investors
The investment landscape in Portugal has radically changed. With the end of the real estate option for the Golden Visa (ARI), smart global capital has migrated. The era of passive investment is over; the era of professional, active investment has begun.
In this new paradigm, investors aren't just looking for a vehicle for a visa; they are looking for a manager who knows what they are doing. They are looking for a team that doesn't just buy assets, but knows how to build them.
It is in this scenario that Private Equity (PE) has emerged as the premier route. And at the pinnacle of Portuguese Private Equity, there is one name that has defined the category for over two decades: Explorer Investments.
Founded in 2003, Explorer Investments is not just another fund manager; it is the **largest and most experienced independent Private Equity platform in Portugal**. With approximately **€1.8 Billion in assets under management**, the numbers speak for themselves.
But what sets Explorer apart isn't just the numbers. It's the methodology. In a market flooded with speculative Venture Capital (VC) funds or "fixed-income" funds offering limited returns, Explorer focuses on what it does best: **classic Private Equity**.
This means investing in **mature, solid, and profitable companies** in the real Portuguese economy, with the goal of transforming them into more efficient, more valuable, market-leading businesses.
Many funds claim to be "active managers." At Explorer, this isn't a marketing slogan; it's a daily operational process. The Explorer "value-add" is its total involvement in the investment process.
The most common confusion in the market is between "Private Equity" (PE) and "Venture Capital" (VC). Explorer is not a VC fund.
Explorer doesn't just "write a check" and wait. The Explorer team:
Explorer does not depend on market "luck." Value is manufactured through a proven playbook:
“"A VC fund invests in a *business plan*. A PE fund like Explorer invests in a *business*. We buy solid companies and, through our direct involvement and management access, we make them extraordinary. Our 20-year track record is proof of this model."”
Understanding the different needs of global investors, Explorer has structured its access to this PE platform into two main paths:
€500,000
This is the solution designed specifically for investors seeking the Residence Permit (ARI).
A Note on "Open" vs. "Eligible" Funds:
The Golden Visa law **excludes** traditional, liquid open-ended funds (UCITS). It requires an illiquid fund (5+ year maturity) with 60% investment in the Portuguese economy. Explorer's eligible funds are **Alternative Investment Funds (AIFs)**. While their legal structure may be "open" (allowing new subscriptions), they **legally impose a 5+ year lock-up (non-redemption period)** on the investor, perfectly aligning with the law and the long-term nature of Private Equity.
From €250,000
For investors (domestic or international) who **do not** need the Golden Visa but recognize the superiority of Explorer's PE model.
Focus: Pure Capital Growth
This option allows investors to access the same top-tier management team, the same proprietary deal flow, and the same "hands-on" value creation methodology that has made Explorer the market leader.
Investing €250,000 or €500,000 requires absolute trust. The Explorer ecosystem is built on pillars of institutional solidity:
Explorer focuses on transparency and a simple, professional onboarding process:
In today's market, choosing a fund for the Golden Visa (or for any investment in Portugal) is a critical decision. The choice is no longer between an apartment in Lisbon or Porto. It is between speculation and solidity.
Choosing Explorer Investments is not choosing a fund. It is choosing an institutional partner with a 20-year track record, a proven investment model focused on real and profitable companies, and a team that gets directly involved in creating value.
For the investor seeking the solid path to residency, or simply the best Private Equity manager in Portugal, Explorer is not just an option; it is the benchmark.
Let’s map your objectives to a CMVM-regulated solution. Speak with me or a senior colleague - confidential, practical, and tailored to your goals.
André Bandeira
ab@explorerinvestments.com
Maria Campos Silva
mcs@explorerinvestments.comProfessional sourcing, governance, and reporting across the investment cycle.
Vehicles supervised in Portugal with independent oversight and audits.
Multi-year holding period aligns with ARI timelines and value creation.
Simplified residency path with spouse and dependents included.
Live, work, and travel across the EU once residency is in place.
Operational experience with international families and advisors.
Get your complete, free guide to the Portuguese Golden Visa. Learn how to invest with confidence through Explorer Investments, the country's largest private equity fund.
André Bandeira
ab@explorerinvestments.comMaria Campos Silva
mcs@explorerinvestments.comCopyright © 2025 Explorer Investments
It is recommended to consult Chapter V of Decree-Law nº 162/2014, of October 31st, published in the Official Gazette, as well as its revision by Law nº 2/2020, of March 31st. The information included here is of a general nature, and therefore each potential investor should seek independent advice (e.g., legal, financial, tax, etc.)