Lince Innovation Fund II
Fully subscribed Lince Capital fund financing R&D-driven Portuguese companies in tech and healthcare; ~€69.7M raised across two subfunds.
Managed by Lince Capital · Av. Eng.º Duarte Pacheco, Torre 2, Piso 17, 1070-102 Lisbon, Portugal
Key facts
- Fund status
- Fully subscribed
- Redemption
- ~At end of term2
- NAV frequency
- —
- Performance fee
- —
- Hurdle rate
- —
- Subscription fee
- —
- Redemption fee
- —
- Fund size
- ~€69.7M2
- Target size
- —
- Inception
- —
- Fund term
- 8 years1
- Distribution
- —
- CMVM ID
- —
- ISIN
- —
- Legal structure
- Closed-end fund with two subfunds (Subfund I and Subfund II), per the manager's funds page2
- Domicile
- Portugal2
- Custodian
- —
- Auditor
- —
For US investors
- US investors accepted
- —
- PFIC status
- —
- Annual QEF statements
- —
- IRA / 401(k) route
- —
No public information on US investor acceptance. As a non-US pooled fund it would be expected to be a PFIC for US taxpayers; no QEF information published. The fund is closed to new subscriptions, so this is largely moot for new investors.
Fees & costs
Performance
No audited performance data is publicly available for this fund yet. We only show returns we can trace to fund reporting — never marketing projections presented as track record.
Documents
- Open
Lince Capital — Investment Funds (Innovation Fund II Subfund I & II cards)
Manager website · EN · accessed Jul 7, 2026
Data transparency
Researched Jul 7, 2026 · every fact carries its source
Still researching
- Management fee
- Performance fee
- Lock-up period
- CMVM registration
- US investor acceptance
- ISIN
- Target fund size
- Inception date
- NAV frequency
- Hurdle rate
- Subscription fee
- Redemption fee
- Custodian
- Auditor
- Target return
- Distribution policy
- PFIC status
- QEF reporting
- IRA/401(k) eligibility
- Portfolio allocation
Sources
- 1Lince Innovation Fund II — Nomad Gate profile — Nomad Gate (aggregator), accessed Jul 7, 2026
- 2Lince Capital investment funds overview (subscribed capital per subfund) — Lince Capital (manager), accessed Jul 7, 2026
Research summary
Compiled from the sources cited on this page — a factual summary, not a recommendation or rating.
Lince Innovation Fund II was Lince Capital's Golden Visa-oriented R&D vehicle, financing Portuguese companies focused on innovation and research & development in the technology and healthcare sectors. It sits between Innovation Fund I (€36M, health/tech/industrial) and the much larger Innovation Fund III (€146M) in the Lisbon manager's fund lineage. The fund was structured in two subfunds, which Lince's site shows as fully subscribed with €64.6M (Subfund I) and €5.1M (Subfund II) of capital — roughly €69.7M combined.
Subscriptions ended in August 2024 per Nomad Gate, whose profile records a €100,000 minimum ticket and an 8-year duration; a fund representative had confirmed continued Golden Visa eligibility under the post-October 2023 rules, credible given the non-real-estate R&D mandate (unlike several of Lince's property-flavoured funds). No fee schedule, ISIN, CMVM number or performance data is public. The profile is retained for reference; investors interested in the strategy today would look at Lince's open successor funds.
Suited for
- ·Reference only — both subfunds are fully subscribed (subscriptions ended August 2024)
- ·Useful as background on Lince Capital's Innovation fund series when evaluating its currently open funds
Risk factors
- ·Closed-end ~8-year structure — capital locked until term with no published interim liquidity
- ·Venture/R&D financing risk concentrated in Portuguese tech and healthcare companies
- ·Minimal public disclosure: no fees, ISIN, CMVM number or performance data published
Listed for completeness, drawn from fund materials and public sources — not an assessment. How much weight any factor deserves depends on your own situation and risk appetite.
Tom Brooks
Founding Partner & CEO
Talk through Lince Innovation Fund II and how it fits your Golden Visa plan — independent guidance, no obligation.
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