Overview
A venture capital fund investing in real estate focused private companies in Portugal.
Aspect I invests in private companies with high growth potential focused on the real estate sector in Portugal.
The fund pursues a disciplined, asset-backed strategy across selected Portuguese real estate opportunities, managed with independent valuation and risk oversight.
This is a marketing communication. Please refer to the fund's management regulation and key information document before making any final investment decisions. Units are placed by private subscription.
Strategy
Investment policy.
The fund invests in companies operating in the Portuguese real estate sector, directly or indirectly, through equity, quasi-equity or debt instruments, or a combination thereof.
The investment process combines rigorous selection, structured monitoring and clear divestment criteria. No leverage is employed at fund level.
Risk factors
Investment involves significant risks, including the loss of the entire capital invested.
The fund is closed-ended: units cannot be redeemed before the end of its term and there is no secondary market for them. An investor must be prepared to hold the units for the whole term.
Market risk
Real estate values and rental markets fluctuate with economic conditions, interest rates and demand.
Illiquidity
Venture capital funds are inherently illiquid; there is no established secondary market for units.
Concentration
Sector and geographic concentration in Portuguese real estate increases exposure to local market conditions.
Valuation uncertainty
Unlisted assets are valued periodically on the basis of assumptions that may not materialise.
Development risk
Projects may face licensing, construction and commercialisation delays or cost overruns.
Loss of capital
Investment may result in the loss of the entire capital invested.
The complete description of the risks is in the management regulation and the key information document, in the documents section of this page.
Fact sheet
- Fund name
- Aspect I, Fundo de Capital de Risco
- Management company
- Bitizenship Capital, SCR, S.A., since 1 September 2026
- Fund type
- Venture capital fund (FCR)
- CMVM registration
- N.º 1660
- Sector
- Real estate
- Geography
- Portugal
- Fund size
- €6,500,000
- Status
- Investing
- Valuation
- Half-yearly, at 30 June and 31 December
Costs reduce the return on the investment. The fund's fees are set out in its management regulation, which prevails over this summary.
Documents
Fund documentation.
The documents in force are available to download. Annual and half-yearly reports are provided to unit holders through the investor area.
Aspect I is a venture capital fund incorporated by private subscription. Its management regulation is the document that governs it.