Dipalo Ventures has partnered with Heed Capital to launch two new funds eligible for Portugal’s Golden Visa program. Together, the firms manage approximately €400 million in assets and bring deep experience across U.S. and EU public and private markets.

Two Funds

  • Dipalo Heed Fund II targets high-potential innovations in energy, climate, and advanced manufacturing, while Heed Top offers a conservative mix of public equities and bonds.
  • Dipalo Heed Climate Tech Fund II will focus on technology breakthroughs in Energy Transition, Industrial & Manufacturing (including industrial decarbonization)

Strategy

  • The Fund will invest at least 60% of its assets in early stage companies operating in Portugal. 40% will be invested in the US.
  • The minimum initial subscription amount is €200,000. Golden Visa applicants must invest at least €500,000.
  • Closed-ended fund with 10 year term. No early redemption. Distributions over Fund term based upon exit.
  • The expected return is 20% per year, net of fees.
  • Non-tax residents in Portugal are tax exempt on both income and capital gains.

About

Dipalo Ventures is a U.S.-based venture capital firm with deep expertise in technology and sustainability investments, bringing international perspective and proven track record in venture investing. Dipalo Ventures invests in early-stage, breakthrough deep tech across manufactured innovations that are reshaping the future of Energy, Climate, and Physical AI.

Heed Capital is a Portugal-based fund manager with specialized knowledge of local markets, regulations, and Golden Visa requirements, ensuring seamless execution and compliance.

  • 11 Mutual Funds
  • 250 GV Applicants
  • €80m GV Investments Raised

Related guides

More on Portugal Golden Visa Investment Funds

Overview

Free consultation

Is this programme right for you?

Tell us your nationality, budget and family size. Our licensed partners reply with eligible programmes and a full cost breakdown — free of charge.