Next Fund
Next is a Venture Capital fund mainly invested by Golden Visa investors investing in companies holding or developing high-street retail units.
Investment Sectors
Real Estate
Strategy Overview
Build a hight street retail portfolio with low credit risk tenants, aiming to provide above market returns to the investors.
Minimum Ticket Size
€200,000
First Close Passed
No
Set Up Fee
1.23% added
Management Fee
1.7% Dependent on total amount raised and is estimated to reach 1.7%
Performance Fee
50% 50% of the capital gain. All distributions are exempt of any performance fee.
Target Annual Returns
3% Estimated 3% after paying all expenses.
Target Returns Upon Exit
7% Estimated 7% IRR
Subscription Deadline
December 2022
Target Fundraise
€75,000,000
Month Established
December 2020
Fund Duration
8 years
US-investors (PFIC)
Yes
NEXT aims to benefit from the arbitrage potential of the prime high street retail: targets stores with low credit risk tenants, and high capital gain potential as the locations are very prime, paying dividends by rental or financing income. When evaluating the data, high street retail in Lisbon presents a big opportunity. Lisbon rents in this segment are at 1/3 when compared to the average level in Europe. The strategy is to build an attractive portfolio at above market rates, that will be maturated during the life of the fund and then sold to an institutional investor like a Pension Fund.