Business Areas

Private Equity

The Funds under management in the Private Equity area since 2005, invest in Portuguese companies with a high growth potential. This helps to enhance their development through growth in national and international markets, organically or through acquisition.

Best practice in terms of responsible investment includes the introduction of ESG criteria in both the decision making and monitoring of portfolio companies’ performance.

Relationships established since 2003 with privileged access to the most important businesses in the country, has allowed us to undertake the highest number of Private Equity transactions in Portugal. The high amounts invested in the Explorer Funds by the partners guarantee that Explorer Investments remains totally dedicated to maximising the return to investors.

The Explorer Investments’ team internally undertakes the analysis of potential investments and actively monitors the companies in the portfolio preparing them for divestment.

The Private Equity area, has various funds under management:

Explorer Investments works very closely with the management teams of the companies which make up the portfolio, monitoring them and supporting them in taking critical decisions. Value creation in portfolio companies results from the professionalisation of all aspects of management, from efficient process management through to the development of internal competencies. Growth is often achieved via internationalisation of a company’s activities and/or through the implementation of buy and build strategies.

Up to now, Explorer Investments has raised more than 600M€ across four funds. Since inception, Explorer Investments has undertaken over 20 initial investments and more than 30 additional investments, having successfully closed 13 divestments:

  • Explorer I (2004): Totally divested
  • Explorer II (2007): Capital 200M€ - In the monitoring and divestment phase. It has 2 portfolio companies.
  • Explorer III (2009): Capital 135M€ - In the monitoring and divestment phase. It has 1 portfolio company.
  • Explorer IV (2018): Capital of 56M€ at present- Currently, it has 1 portfolio company.
    The fund can undertake the acquisition of partial or total stakes in companies or inject capital to boost their growth. 

The Growth Capital area gives investment solutions to finance expansion and modernisation projects, with the aim of boosting the growth and competitiveness of the companies. This contributes to the development of new services and/or products, the improvement of operating efficiency and profitability, the professionalisation of management, internationalisation and an increase in exports.

The results achieved and recognition from the companies and their management teams have allowed for significant growth in this area, which at present has 280M€ under management, in the following funds:

  • Fundo Revitalizar Norte (FRN) (2013): Capital 80M€ - In the monitoring and divestment phase. Currently has 33 companies in its portfolio.
    With an initial allocation of 80M€, it invested 91M€ distributed over 39 portfolio companies in various sectors.
  • Explorer Growth Fund II, III and IV (2019, 2020 and 2021): Capital of 75M€, 46M€ and 78M€ respectively – All in an investment phase.

Growth funds have an objective to contribute to the companies’ improved competitiveness, namely through innovation and an increase in investment in R&D, with 100M€ currently available to invest.

Portfolio Private Equity

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