Our investment strategy aims for annual capital appreciation of 20-40%, including an annual dividend payment of up to 5% from the realized net appreciation.
Many investors want a painless and effective way to benefit from the rapid growth of digital assets. We do this seamlessly, and include the unique option to also attain Portuguese Residency rights through our KvarnPortugal Fund. Since its inception in 2009, Bitcoin has attracted forward thinking individuals worldwide, and has now become an essential part of an investor’s portfolio. However, navigating this new investment world can be challenging and complex. KvarnPortugal streamlines this journey all in one place.
Kvarn is an award-winning digital asset platform which leads the way in delivering secure and regulatory compliant custody services for digital asset funds. As a regulated digital asset provider Kvarn is committed to providing industry-leading solutions for safeguarding digital assets, and is in line to be the one of the first digital asset trading companies in Europe to attain the new regulatory Mica trading license to be issued in 2025.
The first fully digital asset-based fund that offers a full path to Portuguese Residency, developed in partnership with Fundbox and Kvarn X. In strategic collaboration with CoinDesk Indices, we’re revolutionizing investment-based immigration through digital assets
Investing in Bitcoin is appealing due to its limited supply, increasing adoption, and growing institutional interest, as evidenced by companies like BlackRock launching Bitcoin ETFs
This shows Bitcoin’s Compound Annual Growth Rate (CAGR) VS other This shows Bitcoin’s Compound Annual Growth Rate (CAGR) VS other assets over various timeframes. Bitcoin has returned more than 50% on average, every year, for the past 5 years, while gold has returned under 12% on average each year over the same period
As with the historical Bitcoin price table, we see Bitcoin’s extreme out performance vs other assets here as well. These CAGR numbers solidify Bitcoin’s status as the best performing financial asset in history
image source Messari.io
We maintain a long-term position in Bitcoin, capitalizing on its established track record and upward growth trajectory.
Our portfolio also includes the CoinDesk 20 Index, which leverages algorithmic rebalancing each quarter to capture opportunities among the market’s top 20 digital assets
To earn extra returns, we use staking – this means we put some cryptocurrencies to work by helping verify transactions on their networks.
All tokens within the funds holdings that support staking will be staked to generate additional annual yield. The annual yield can be as much as 5% net
Share in our success through our annual distribution program. Each year, we aim to distribute up to 5% of the Fund’s income available for distribution back to our investors, sourced from realized capital gains.
This distribution is carefully balanced while maintaining optimal liquidity and long-term growth potential for all investors
Our fund targets high growth through strategic investment in Bitcoin and the CoinDesk 20 Index. Designed for both retail and institutional investors, the fund offers dual benefits: potential high returns and Portuguese residency qualification through the Golden Visa program
See how your investment could perform in two scenarios:
Based on historical performance patterns, these models represent our lower and upper range estimates.
*Past performance does not guarantee future results.
Selling Digital assets is very fast, like other commodities such as gold, done through a regulated exchange platform on the open market. KvarnPortugal Fund aims to exit this way, with a well-considered and planned exit for the final two years of the fund, so it is done in a well-timed and orderly way. Flexibility also exists for an earlier or later liquidation in order to take advantage of certain investment market cycles.
Your investments deserve the highest level of protection. At KvarnPortugal, we’ve partnered with Fireblocks, the world’s leading digital asset security platform, to provide institutional-grade protection that safeguards your investments with the same technology trusted by major financial institutions
KvarnPortugal has engaged in a strategic partnership with CoinDesk Indices, a leading digital assets indices and data provider since 2014. This collaboration enables the KvarnPortugal Fund to offer 20% exposure to the CoinDesk 20 Index, a transparent and rules-based index that delivers one-stop access to the broader digital asset landscape. The fund’s investment strategy is pleased to deliver broad-based, diversified exposure to assets beyond bitcoin and ensure professional management of your cryptocurrency portfolio.
KvarnPortugal has an exceptional strategic partnership with FundBox, renowned for its meticulous fund management practices and recognized as Portugal’s Fund Management Company of the Year in 2024. This collaboration is poised to enhance the value of the Fund significantly, leveraging FundBox’s expertise in navigating market fluctuations and investment opportunities.
Coupled with the insights and innovation from CoinDesk Indices, a leading source of news and analysis in the crypto space, this partnership positions KvarnPortugal at the forefront of the rapidly evolving cryptocurrency industry.
As the market experiences unprecedented growth and transformation, the synergy between these three entities creates an unparalleled alliance, ready to capitalize on emerging trends and deliver significant value to investors at this exhilarating juncture in crypto history
FundBox SCR is the FundBox AIFM (Alternative Investment Fund Manager) specializing in private equity, held by FundBox Holdings and senior management. FundBox funds represent more than €550m euros under its management, with an extensive track record in real estate funds built over more than 20 years of experience
Bison Bank provides banking services to individuals and institutions through a platform connecting European, Asian and other global markets. Strong expertise in the Golden Visa eligible funds. Bison Bank is a specialist bank able to handle remote account openings for international clients, specifically from the USA and China. Staff speak Portuguese, English, Mandarin & Cantonese
The fund is also regulated by The Portuguese Securities Market Commission, also known by its initials, “CMVM”, which supervises and regulates securities and other financial instruments and the activities of Portuguese markets participants
Founded in 1963 BDO has grown into a US$ 7 billion USD business with a presence in over 150 countries, and has been appointed independent auditor to the fund
The residency clock begins when your application is accepted, not when the residency card is issued
Residency: 35 days over 5 years for permanent status and eligibility to apply for a passport
Investors can extend their Golden Visa benefits to their immediate family members, streamlining the application process for both the main applicant and dependents
Rui has more than thirty years of experience in investment and fund management in Portugal. He was a fund manager for Banco Totta & Açores — today part of Santander for ten years — before launching his brand FundBox in 2004. Since then FundBox funds have raised more than 550M € and executed more than 650 transactions in real estate, private equity and other alternative assets. Rui has been instrumental in the establishment and management of many successful Golden Visa investment funds
Catarina joined FundBox’s asset management team in 2016, focusing initially on real estate and later in art, wine & spirits and digital assets, asset classes for which she is FundBox’s Chief Investment Officer.
She holds a BA and a Masters in Architecture, both from Lisbon University, and pursued graduate studies in Art Markets, Real Estate Investments and Wine Investments, at NOVA, the Portuguese Catholic University and Oxford’s Saïd Business School. She is a Lecturer at the Executive Education arm of Lisbon’s ISCTE Business School, teaching investments in alternative assets
Anders is an experienced engineer who has spent over a decade in the digital asset space, engaging in everything from early mining operations to building analytical software tools. His passion for technology and innovation drives him to explore new frontiers—whether investing in emerging assets or creating data-driven solutions. Through hands-on problem-solving and a relentless curiosity, he continually pushes the boundaries of what’s possible in this rapidly evolving industry
Joonas has worked in the blockchain, digital asset, and Web 3.0 sectors since 2018, focusing on business development, regulation, investment, brokerage, and wealth management services tailored to digital assets. He has served a diverse range of investors, from high-net-worth individuals (HNWIs) to international clients.
Before founding Kvarn Capital, Joonas built multiple regulated businesses under the EU framework for digital assets, gaining extensive expertise in regulation and operations.
As a pioneer in the field, Joonas combines deep experience in traditional finance with the rapidly evolving digital asset ecosystem, bridging the gap between these two worlds to create new opportunities for investors.
Jason Dominic Gillott is a serial entrepreneur from Cambridge, UK. With a passion for business and a keen eye for opportunities, he has journeyed through 100 countries and spent 25 years in Asia, particularly Hong Kong.
He established several successful enterprises, most notably a famous Cognac brand. Under his co leadership it grew substantially, winning three Guinness World Records.
In 2018, he began to leverage his extensive business network into Portugal. Which has been marked by over 100 million euros in investments, underscoring his commitment to fostering economic growth and opportunity in Portugal
In the past two years, João was responsible for raising €120M across four Golden Visa qualifying investment funds between 2021 and 2025. João has 30 years of experience in Financial Services, including key roles in the investment fund, corporate service, insurance and re-insurance sectors in Portugal, Brazil, UK, and the US
Fund name
KvarnPortugal Fund
Type of fund
Venture capital / Private equity
Fund approval
2025
Fund maturity
2033
Fund manager
FundBox SGOIC
Custodian bank
Bison Bank
Auditor
BDO & Associados
Capital raise target
€50 000 000
Net annual target growth
20% to 40% net per annum
Capital gains tax
0% capital gains tax for non-tax residents in Portugal 10% capital gains tax for tax residents in Portugal
Currency
Euro (€)
Minimum investment
Non Golden Visa €100 000
Golden visa requirement
€500 000
Management fee
0.5% p.a. not a direct cost to the investors
Subscription fee
1.125% paid before the investment is made (one-off fee)
KYC fee
€1,250 (one-off before investment)
Subscription period end
2027
Profit share
80/20 incentive structure for the investors
Reports on fund
Yearly from the Fund inception
Investment Distribution
The Company initially invests 80% into Bitcoin & 20% CoinDesk 20 Index
General Enquiries
Appointed Representative Joao Hilario
Chinese
Please contact us for a full presentation in English, Mandarin, Turkish, Vietnamese, Portuguese or Spanish
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This website does not use cookies or tracking technologies. We do not collect any individual data about how visitors use our website. You can browse our site without any individual data collection or monitoring.
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Since this website does not collect or store any personal data, there is no personal data to access, modify, or delete. However, should our practices change in the future, you would have the following rights:
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- Right to data portability
- Right to object to data processing
- Right to withdraw consent
Currently, since we don't collect any personal data, these rights don't need to be exercised.
While this website does not collect or store any personal data, you have the right to lodge a complaint with the Portuguese Data Protection Authority (Comissão Nacional de Proteção de Dados - CNPD) if you believe your data protection rights have been violated.
Website: www.cnpd.pt
We may update this privacy policy from time to time to reflect changes in our practices or for legal reasons. Any updates will be posted on this website.
This privacy policy was last updated on 2025-01-21.
The contents available in this website constitute general information or individual opinions, not constituting the official provision of any service. KvarnPortugal Fund excludes its liability for any damages that may occur related to the information contained on this site, which is merely informative.
KvarnPortugal Fund authorizes the downloading and temporary storage of the contents of this site for the purpose of viewing it on a personal computer. Reproduction, permanent storage or retransmission of the contents of this site are expressly prohibited without the prior written authorization of KvarnPortugal Fund . All contents of the site (namely texts, images, pdf documents) and respective rights are the exclusive property of KvarnPortugal Fund .
KvarnPortugal Fund is committed to ensuring the protection of user privacy and to complying with its obligations under the Data Protection Act. Our privacy and cookie policy explains how we will handle any personal information you provide us when using this website and how we use Internet cookies. It also clarifies some of the security measures we take to protect your privacy, giving certain guarantees about things we will not do.
The information we collect and how we use it
When you register on our website, we collect the information you fill in the forms on the website, such as your name, company, title, email address and telephone number. We collect this information in order to be able to process your orders and manage the necessary transactions efficiently, as well as to develop and improve our services. We may use aggregated information to monitor the use of our services and to develop and improve our website and services. We may communicate this information and statistics to third parties, but we will not include detailed information that could be used to identify you.
We may also have received your personal information from other companies and organisations, for example for marketing purposes. In this case, we assume that these third parties have obtained your consent for us to use them.
Cookies
We use cookies on this website. A cookie is a small text file that identifies your computer on our server. Cookies themselves do not identify the user, only the computer used. Cookies are not used to collect personal information. The user has, at any time, the possibility to configure his computer to accept all cookies, to notify him when a cookie is issued or not to receive any cookies. How you do this depends on the web browser you use. Please refer to your browser's "Help" function. If you accept cookies, they may remain on your computer for many years unless you delete them. See our Cookies Policy.
Cookie control
Internet browsers allow you to exercise some control over cookies through the settings. Most browsers allow you to block all cookies or block cookies from certain websites. They can also help you to clear cookies when you close your browser. Please note, however, that this may mean that any preferences or opt-outs you set on the website will be lost. To learn more about cookies, including how to check which cookies have been created and how to manage and delete them, visit www.allaboutcookies.org, where you will find information on managing the settings for the main Internet browsers.
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To provide visitors with more choices about how their data is collected by Google Analytics, Google has developed a browser add-on for opting out of Google Analytics. The add-on tells Google Analytics JavaScript (ga.js) not to send information about the website visit to Google Analytics. The Google Analytics Opt-out Browser Add-on does not prevent information from being sent to the website itself or to other web analytics services. Learn more about the Google Analytics Opt-out Browser Add-on.
Acceptance of these terms
By using this website, you agree to the collection and use of your information, as set out in this privacy and cookie policy. Any changes to this policy will be posted on this website.
The website contains general information about KvarnPortugal the services it provides. The material provided as part of the website is solely for information purposes unless separately and expressly indicated otherwise. To the best of KvarnPortugal's understanding, all the information provided through the website is true and correct on the date of its publication. However, KvarnPortugal does not guarantee that the information is accurate, and it does not accept any liability for errors or omissions in the material or for its unsuitability. No information provided through the website is to be construed as an offer or recommendation to buy or sell any investment, nor is it to be interpreted as a recommendation to undertake any other investment activity. Investors make all investment decisions independently and on their own responsibility.
Investors base their investment decisions on their own research and assessments of companies and investments and of the risks involved. If necessary, investors should consult appropriate parties when making investment decisions. KvarnPortugal accepts no liability for any financial loss or any direct or indirect damage that may result from an investment or another decision based on the information published on these pages.
