Fund comparison

Explorer V versus First Pharma Fund

Fund onevsFund two

Residency permit & citizenship vs lock-up

Golden Visa applicants must keep the qualifying €500,000 invested while the residency is active; naturalization timelines vary by case. Not legal advice.

Key facts, side by side

4 of 12 differ · marks a difference

Explorer VFirst Pharma Fund

Minimum investment

€250k

€100k

Management fee p.a.

—

Performance fee

20%

—

Hurdle rate

—

20%

Subscription fee

—

Redemption fee

Not disclosed

—

Lock-up

10 years

~8 years

Redemption

~At end of term

At end of term

Fund term

10 years

8 years

Target return

20–25%

~6.5%+

Fund size

—

€16M

Inception

Jan 2026

—

What the fees add up to

At least one of these funds has not published its management fee, so a like-for-like cost projection would be guesswork — we don't draw charts from missing data.

For US investors

Accepted
Unconfirmed
PFIC
PFIC status unclear
QEF statements
Unconfirmed
IRA route
Unconfirmed

Accepted
Unconfirmed
PFIC
PFIC expected, no QEF reporting confirmed
QEF statements
Unconfirmed
IRA route
Unconfirmed

Research coverage

63%

data completeness

0 fund documents linked · 4 sources cited

Full profile & sources →

58%

data completeness

0 fund documents linked · 5 sources cited

Full profile & sources →

This comparison restates researched data side by side — it is not a recommendation of either fund. Facts marked with a dash or "not disclosed" were not published; how much weight any difference deserves depends on your situation.