About The Fund Strategy

We are glad to present

Fundos de capital de risco (venture capital funds or VC funds) offer tax efficiency by allowing investors to invest in a financial product backed by tangible real estate assets.

This spreads risk across several asset classes and jurisdictions. Compared to a direct real estate investment, investing in a VC fund such as RECap Fund is simple, does not incur any maintenance costs, and offers an easy exit.

In Portugal, VC funds are supervised by the Portuguese Securities Market Commission (CMVM) and managed by a fully regulated independent fund manager. Investors into a VC Fund are also eligible for the Golden Visa residential status.

RECap Fund will invest in real estate companies that fund development projects or buy real estate assets for rental income. In addition, the fund will also invest in debt instruments issued by real estate development companies.

About The Fund Strategy

Fact Sheet/

DesignationDescription
Fund Name

RECAP FUND

Fundo de Capital de Risco
Fund Type

Fundo de Capital de Risco

Closed-End Private Equity Fund Regulated by CMVM
Fund Manager

Insula Capital, SGOIC

Executive Board Members

Skybound and RE Capital

Custodian Bank

Bison Bank

Auditor

PKF, Portugal

Legal &Tax

PBBR

Subscription Period

24 months

Fund Term

8 years

(including subscription period)
Target Fund Size

€100 million

Minimum Participation

€100,000

(corresponding to 100 units)
Golden Visa Requirement

€350,000

Until 31 December 2021

€500,000

From 1 January 2022 onwards
Target Class A shares size

€ 10,000,000

Target Class B shares size

€ 89,900,000

Target Class C shares size

€100,000

(To Be Owned by RE Capital)
Dividend Policy

Class A:

1) Preferred dividend of 3.5%, to be paid on a quarterly basis (or capitalised in case there is no sufficient cash-flow)

Class B:

1) Capitalized Annual return of 3.0% to class B holders, after the payment of the Preferred distributable Class A dividend of 3,5%;
Distribution Policy at Maturity

1) Class A:

Principal paid back at maturity

2) Class B:

Remaining Profits of the Fund

3) Class C:

18% profit participation provided that participants of category A get their preferred annual dividend of 3,5% plus their principal back and the participants of category B achieve a minimum 3% IRR

4) Insula Capital:

2% profit participation provided that participants of category A get their preferred annual dividend of 3,5% plus their principal back and the participants of category B achieve a minimum 3% IRR"
Subscription Fee

1.5% with a minimum €3,000

Management Fee

1.50%

Fund Strategy

Residential, office, retail, hospitality,
developments

Location: Portugal (minimum 60%)
Location: UK, Switzerland and other main European capitals (maximum 40%)

(Investment in developments is made via equity instruments and/or fixed income bond instruments)

Target Return

6% IRR

(this is not a guaranteed return)*
Fund Registry Number

1695

Download PDF

Fact Sheet/

DesignationDescription
Fund Name

RECAP FUND

Fundo de Capital de Risco
Fund Type

Fundo de Capital de Risco

Closed-End Private Equity Fund Regulated by CMVM
Fund Manager

Insula Capital, SGOIC

Executive Board Members

Skybound and RE Capital

Custodian Bank

Bison Bank

Auditor

PKF, Portugal

Legal &Tax

PBBR

Subscription Period

24 months

Fund Term

8 years

(including subscription period)
Target Fund Size

€100 million

Minimum Participation

€100,000

(corresponding to 100 units)
Golden Visa Requirement

€350,000

Until 31 December 2021

€500,000

From 1 January 2022 onwards
Target Class A shares size

€ 10,000,000

Target Class B shares size

€ 89,900,000

Target Class C shares size

€100,000

(To Be Owned by RE Capital)
Dividend Policy

Class A:

1) Preferred dividend of 3.5%, to be paid on a quarterly basis (or capitalised in case there is no sufficient cash-flow)

Class B:

1) Capitalized Annual return of 3.0% to class B holders, after the payment of the Preferred distributable Class A dividend of 3,5%;
Distribution Policy at Maturity

1) Class A:

Principal paid back at maturity

2) Class B:

Remaining Profits of the Fund

3) Class C:

18% profit participation provided that participants of category A get their preferred annual dividend of 3,5% plus their principal back and the participants of category B achieve a minimum 3% IRR

4) Insula Capital:

2% profit participation provided that participants of category A get their preferred annual dividend of 3,5% plus their principal back and the participants of category B achieve a minimum 3% IRR"
Subscription Fee

1.5% with a minimum €3,000

Management Fee

1.50%

Fund Strategy

Residential, office, retail, hospitality,
developments

Location: Portugal (minimum 60%)
Location: UK, Switzerland and other main European capitals (maximum 40%)

(Investment in developments is made via equity instruments and/or fixed income bond instruments)

Target Return

6% IRR

(this is not a guaranteed return)*
Fund Registry Number

1695

Download PDF

The App/

The first App that tracks your Investment and Golden Visa application.

RECap Fund App is a platform that stores all your Fund and Golden Visa application information in one place, a platform that notifies you at every stage of the process.

Learn More

About Us/

Investment Fund Manager

Executive Board Member

Executive Board Member

Development Partner

Development Partner

Learn More About Our Team

About Us/

Learn More About Our Team

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