Roots Global
Guides
Book a free consultation

Fund comparison

First Pharma Fund versus Portugal Investment 1 (Saratoga POR 1)

vs
STAG Fund Management logo

First Pharma Fund

STAG Fund Management

Private EquityOpen
Saratoga Capital logo

Portugal Investment 1 (Saratoga POR 1)

Saratoga Capital

Private EquityOpen

Residency permit & citizenship vs lock-up

First Pharma Fund8-year lock-upPortugal Investment 1 (Saratoga POR 1)6-year lock-up~Year 6: typical naturalization decision

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

5 of 12 differ · marks a difference
First Pharma FundPortugal Investment 1 (Saratoga POR 1)
Minimum investment
€100k
€150k
Management fee p.a.
—
1.5%
Performance fee
—
20%
Hurdle rate
20%
5%
Subscription fee
—
0%
Redemption fee
—
5%
Lock-up
~8 years
6 years
Redemption
At end of term
Annual
Fund term
8 years
Not disclosed
Target return
~6.5%+
8–11%
Fund size
€16M
—
Inception
—
~Jan 2021

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 expected, no QEF reporting confirmed

  • QEF statements

    Unconfirmed

  • IRA route

    Unconfirmed

  • Accepted

    Accepts US investors

  • PFIC

    PFIC expected, no QEF reporting confirmed

  • QEF statements

    Unconfirmed

  • IRA route

    Unconfirmed

Research coverage

58%

data completeness

0 fund documents linked · 5 sources cited

Full profile & sources →
88%

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.