Bluetech III

The Bluetech III is the successor of Iberis’ managed funds Bluetech I and Bluetech II, focused on the scaling-up of highly innovative companies rooted in Portugal with global potential.

Investment Sectors

Venture Capital, Technology

Strategy Overview

The Fund focuses on the scaling-up of highly innovative companies rooted in Portugal with global potential. Most of the capital will be invested in companies at later financing stages, with solid sales and proven results, offering downside protection. The Fund can also do smaller tickets in earlier stage companies as a way to access later stages when these companies grow further. All in all, the Fund will end up with 15-20 portfolio companies.

Minimum Ticket Size


First Close Passed


Set Up Fee

3% added

Management Fee


During the investment period, the Fund shall pay the Management Company an annual management fee corresponding to a nominal yearly rate of 2% of subscribed capital. After the investment period, the management fee is 2% of capital invested net of write-offs.

Performance Fee


20% on total investor returns with 80% catch up after reaching the hurdle rate of 7%.

Target Annual Returns


There is no annual payout.

Target Returns Upon Exit


This Fund targets returns above 20% IRR, mostly focused on capital appreciation.

Subscription Deadline

December 2025

Target Fundraise


Month Established

November 2022

Fund Duration

12 years

US-investors (PFIC)


The Bluetech III Fund targets the best growth opportunities in innovative and technological Portuguese companies, ranging from early-stage VC to growth PE. This Fund is better suited for investors with greater risk appetite and financial knowledge.

Iberis has a solid track record with extensive experience in the Portuguese private equity and venture capital markets. Therefore, the Fund will access the best innovation and growth opportunities leveraging on Iberis’ origination and execution infrastructure in place.