BlueCrow Finance Fund
Investment Sector
Renewable Energy
Investment Profile
Financing renewable energy infrastructure projects
Minimum Investment
€100,000
Subscription Deadline
December 2025
Fund Lifetime
8 years
Open to US Citizens
Yes
Fund Manager
BlueCrow
CMVM License Number
1814
Q&A
Each fund manager or fund advisor has been invited to answer a series of questions about their own funds as well as the market in general.
We sat down with Duarte Calheiros to find out more about the BlueCrow Sustainable Finance Fund.
António de Mello Campello
With over 20 years of experience, António specialises in asset management and investment solutions in the financial and banking sectors.
His professional career includes the development of various commercial and cross-border operations and his commitment and dedication to investor and client relations.
Throughout his career, he has held various management positions, including Deputy Director of Banco Finantia SA between 2005 and 2009 and investor in entrepreneurial, technological and export-orientated national companies.
In 2010, he founded BlueCrow Capital - Sociedade de Investimento, to provide a specialised, differentiated, focused, and close consultancy service to clients.
Duarte Calheiros e Menezes
Duarte specialises in asset and risk management, business development, venture capital and private equity fund management, and asset structuring. He acquired experience trading futures and options on European market floors throughout his career.
With over a decade’s experience in the financial sector, Duarte joined BlueCrow in 2014 to assume asset management responsibility, currently holding the position of Fund Manager.
Being solution-oriented has enabled him to acquire the know-how and experience to handle the complex matters that can often arise in this field of work.
Why did you decide to create the BlueCrow Sustainable Finance Fund for the Golden Visa market?
The decision of launching he Sustainable Finance Fund in 2023 was based on:
1. The fact that we are right in the middle of an energy sources transition and it is now the moment to profit from the huge demand that is growing in this market and will continue for the next decade.
2. The 5 years of experience that we have been accumulating as business and financing partners throughout 35 projects we invested with the Bluecrow Growth Fund in the renewable energy sector (solar, wind and Kinetic energy). We have setup a financing model to main players in this market, that allows us to give an above average return to our investors and guarantee an extremely low risk. The business yield in this market are in average between 15% and 23%, without risk we can extract in the worst case scenario 8% for the investor.
3. Everybody needs electricity
Has the management/advisory team invested in the BlueCrow Sustainable Finance Fund? Please explain that decision.
Yes, this fund has currently 17M€ raised, from which 1M€ was invested by the management team and 4M€.
Request a detailed presentation about the fund
· Min investment:
€100,000
· Lifetime:
8 years
· US Citizens:
Yes
· Subscription deadline:
December 2025
The BlueCrow Sustainable Finance Fund focuses on investing in renewable energy infrastructures in Portugal and beyond. Could you please explain why you see this particular sector as a good investment target and point out which markets you’re considering outside of Portugal?
Investing in renewable energy caters to the increasing demand for a more sustainable and cleaner way to power the planet. The Fund can generate high and stable yields in the long run by financing specific infrastructures.
How would you describe the BlueCrow Sustainable Finance Fund’s risk profile; Conservative, Moderate, or Ambitious?
Conservative.
The Golden Visa rules state that a qualifying investment must be held for just five years but the BlueCrow Sustainable Finance Fund lifetime runs for longer. Could you please explain your fund lifetime including the launch date and subscription period?
This is not a fund just for Golden Visa investors, it is a fund for all types of investors (Institutionals, Private, Individual), and so the timeline of the fund is created to adjust the fund to the investment strategy and not to an immigration program. Additionally to believe that the whole process will take just 5 years is a mistake, even with the new law that counts the, in average, two additional years the Visa application is taking to be approved as time that is counting within the Visa Program, the renovations and the application for citizenship will increase that time to 7 years. Anyway, after the subscription period the fund will be listed at the EuroNext Lisbon, which allows the investors to sell it’s shares if they want to quit the visa program or for some reason got the citizenship before the 8 year period to liquidation.
On average, how long does it take to onboard a Golden Visa investor into the BlueCrow Sustainable Finance Fund and what are the main obstacles in the onboarding process?
With the delivery of all required documentation for the subscription of the Fund upfront, the onboarding process may take one week in total.
In general, some Golden Visa investors are cautious because of the funds' lock-in periods. How do you plan to deal with investors who wish to exit the BlueCrow Sustainable Finance Fund before its full lifetime?
Maintain transparent communication with investors about the Fund's closed-end nature and the reasons behind the lock-in period.
• Clearly articulate the expected benefits of remaining invested for the full duration.
• Create the possibility of listing the Fund on Euronext to provide investors with an avenue for selling their shares to other interested parties.
• Provide regular updates on the Fund's performance, strategy, and changes that might impact investor sentiment.
• Keeping investors informed can contribute to building trust and confidence.
• Ensure that any measures taken to address early exits comply with the legal and regulatory requirements governing closed-end funds.
• After the subscription period the fund will be listed at the EuroNext Lisbon, which allows the investors to sell it’s shares if they want to quit the visa program or for some reason got the citizenship before the 8 year period to liquidation.
What distinguishes the BlueCrow Finance Fund from other Golden Visa-eligible funds operating in the market?
We are the Fund Managers and there is no Fund advisor, so as Asset and Fund Managers for the last 14 Years we do not need fund advisors as we acquired deep experience in various areas of investment.
We have a 5 year very positive track record in investing as financing partners and business partners in Renewable Energy infrastructure in Portugal through funds managed by us plus an additional 4 years of experience in developing renewable energy projects for private investors that work with us in the Wealth and Asset Management business.
The Fund already raised 17M€ and not only from Golden Visa investors, as we have a diversified scope of investors in this fund from institutional, to private and Visa oriented.
The fund has already invested in three infrastructures and is finalising the 4th investment (2 solar infrastructures, one wind and one Kinetik, so the fund is practically always fully invested as the pipeline of opportunities are extensive.
The fund with the highest dividend distribution in the market. Through the loan agreement we are able to distribute with guarantee 8% per year.
Get in touch with
BlueCrow Finance Fund
now!
· Min investment:
€100,000
· Lifetime:
8 years
· US Citizens:
Yes
· Subscription deadline:
December 2025
The BlueCrow Finance Fund is a sub-fund within the BlueCrow Development Fund I. Could you tell us a little more about the other sub-funds that sit alongside it and explain how investors can diversify their investment with your offering?
We’ve launched in 2023 the Football Strategies Fund, which aims to acquire three different football clubs and develop them from a junior league to the premier league in the country. The designed strategy can be achieved and will generate exceptional profits. A club is not only an interesting machine of affiliation but also the owner of players' passes and contracts, managing their careers, and the developer of a player's image and talent. This is where we are investing. To help us do this, we have hired the help of the team chosen by RedBull to build and develop their portfolio of football clubs in Latin America and Europe.
• We've also launched the BlueCrow Agrobusiness Fund. It aims to invest the first 70% of AUM in Portuguese Agricultural projects relating to water efficiency in farming and cattle management. The area has been indicated as a significant new sector where a new industrial development shock is needed. We are very confident in the projects that can be developed within this new strategy. With the remaining 30% of AUM, we seek to invest in new forest areas, mainly internationally. With the exposure to different geographies, we align the investment with the exceptional objectives of impact investment, working along the local communities, allowing for a broader diversification of land uses and permitting cattle management at a smaller local scale.
• The last Fund launched was the Portuguese Entertainment Fund. The entertainment business in Portugal has snowballed over the previous 15 years, and we want to be part of this growth potential. We will capitalise on the experience we have gathered with the Growth Fund investing in Restaurants, Bars, Rooftops, and concessions and take another step with a team specialised in Entertainment business in Portugal. This Fund will focus on acquiring concessions of spaces for entertainment, such as festivals, concerts, and theme parks, investing in restaurants, bars, and finally taking part in developing tech companies related to the entertainment business.
Many of those considering the Golden Visa have several funds to choose from. What advice can you offer to help investors make the right decision for them?
1. Analyse first the track record of the Management Entity as fund manager and demonstrated experience developed in different projects and how many years present in the market.
2. Analyse the diversity of investors, invested in the funds.
3. Try to diversify between funds that you consider in terms of risk close to your profile
4. Take note of the new GV rule that excludes real estate assets from the fund investments (directly or indirectly), there are a lot of funds in the market that mention that they are eligible (inclusively have legal advice) and are not.
For people who are unfamiliar with investing in funds and may even be nervous about learning, what advice would you like to give them?
If the only investment option to access the Golden Visa is completely uncomfortable for them, but they have decided to apply for the Portuguese program they should look at the other option as the “donation” to cultural assets.
Considering the recent Golden Visa rule changes in October 2023, what advice would you give to investors who are currently looking into the program?
Take note of the new GV rule that excludes real estate assets from the fund investments (directly or indirectly), there are a lot of funds in the market that mention that they are eligible (inclusively have legal advice) and are not.
What is your outlook for Portugal from both an investment and lifestyle perspective over the coming years?
Strong in the Entertainment and F&B sector for the coming years. Industry is growing in sectors like sustainable food production, biotechnology and renewable energy, increasing the investments and production in agriculture in permanent crops, cattle and hydroponics. Tourism numbers will stabilise negatively affecting future hospitality and residential projects as it is an already overcrowded market in terms of infrastructure.
Sounds good! I'd like to get in touch now!
· Min investment:
€100,000
· Lifetime:
8 years
· US Citizens:
Yes
· Subscription deadline:
