Cedrus Capital

What Cedrus Capital does

Cedrus Capital is a Lisbon-headquartered Portuguese venture capital and private equity manager, incorporated in August 2020 as Cedrus Atlantica – Sociedade de Capital de Risco, S.A. and regulated by the Comissão do Mercado de Valores Mobiliários (CMVM) as an Alternative Investment Fund Manager. The firm manages approximately €215 million in assets under management on behalf of more than 700 investors, deploying capital across multiple fund vehicles including SIFIDE-registered tax-advantaged venture funds, Golden Visa-eligible closed-end funds (notably Cedrus Preferred Yield II with a €250,000 minimum subscription), Special Situations Funds, and discretionary asset management mandates. Its active portfolio comprises roughly 16 companies spanning technology (Tekever, dual-use drones), mobility (Indie Campers), telecommunications and energy infrastructure (Visabeira), and other industrial sectors.

The firm is led by co-founders António Serras Rendas, whose background spans Pfizer, Bluefish Pharma, and Mesa Ceramics, and Pedro Appleton Figueira, formerly of Boston Consulting Group and Banco Espírito Santo. A 6–8 person team supports fund operations, investor servicing, and portfolio management. Recent strategic actions include participation in Tekever's ~€70M Series B round in November 2024, the launch of Cedrus Preferred Yield II as a Golden Visa product targeting non-EU international investors, and GDPR/SFDR compliance certification to broaden institutional LP eligibility.

Cedrus Capital's revenue model is typical of European regulated alternative asset managers: recurring management fees on committed or invested AUM (industry standard 1–2%) supplemented by performance fees or carried interest on realized fund returns. Distribution relies on the firm's regulated status, Portuguese tax-incentive fund structuring (SIFIDE R&D credits, Golden Visa residency-linked investment), and partner-led deal sourcing networks rather than proprietary technology or quantitative strategies.

Name

Cedrus Capital

Legal name

Cedrus Atlantica - Sociedade de Capital de Risco, S.A.

Website

https://cedruscapital.pt

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Cedrus Capital is a Lisbon-based, CMVM-regulated Portuguese venture capital and private equity manager operating SIFIDE, Golden Visa, and Special Situations funds with ~€215M AUM for 700+ domestic and international investors.

Ownership category

akta.pro rank

Product category

Venture Capital and Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Investment Activities (5239), Other Financial Vehicles (525990)

SIC

Investment Advice (6282), Finance Services (6199), Investors, Nec (6799)

akta.pro primary industry

Middle-Market Lending (FSANADAI)

akta.pro secondary industry

Real Estate Funds — Core-Plus (FSANAEAG)

Keywords

• Venture capital funds
• Private equity management
• Golden visa investments
• R&D tax incentives
• Asset management services

Headquarters

HQ city

Lisboa

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees: Cedrus Capital generates revenue through management fees charged on funds under management, including SIFIDE funds for R&D investment, Golden Visa investment funds, special situations funds, and real estate/collective investment funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Cedrus Capital is a Portuguese venture capital and private equity manager that structures and manages alternative investment funds targeting Portuguese small and mid-cap companies. Its fund offerings include SIFIDE R&D financing funds, Golden Visa residency-by-investment funds, Special Situations and Restructuring funds, and Asset Management through real estate and collective investment vehicles. The firm manages approximately €215 million in assets across more than 700 investors and operates under CMVM regulation.

Product overview

Cedrus Capital operates as a venture capital and private equity manager offering a portfolio of specialized investment funds. The core offering includes SIFIDE Funds (R&D financing), Golden Visa Funds (residency-by-investment), Special Situations Funds (restructuring opportunities), and Asset Management Services (real estate and collective investment). The flagship product is the Cedrus Preferred Yield II fund, a 10-year private equity vehicle targeting the Golden Visa program with €250,000 minimum investment, investing across Education, Healthcare, Industry, Technology, and Renewable Energy sectors. All funds are registered under Portuguese law and regulated by CMVM, targeting Portuguese small and mid-cap companies with assets under management exceeding €160 million across more than 700 investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Cedrus Preferred Yield II

Quantifiable outcome

• €215 million in assets under management
• +2 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Portugal Ventures: Portugal's largest venture capital firm, backed by the Portuguese government. Directly comparable as a domestic VC investing across multiple sectors in Portuguese startups and growth companies with multiple fund vehicles.
• ECS Capital: Portuguese private equity and venture capital firm managing multiple funds including Golden Visa-eligible vehicles. Comparable as a domestic PE/VC operator targeting Portuguese small and mid-cap opportunities with similar fund structures.
• GED Capital: Iberian private equity firm managing multiple funds including special situations and growth capital. Comparable as a mid-market PE manager in Portugal/Spain with similar thesis around SMEs and restructuring.
• Inter-Risco: Portuguese venture capital firm focused on early-stage technology investments. Comparable as a domestic VC with overlapping portfolio exposure in Portuguese tech startups.
• ES Ventures: Portuguese VC firm investing in early-stage Portuguese companies. Comparable as a domestic venture capital operator with similar investment size and sector exposure.
• Vallis Capital Partners: Portuguese private equity and venture capital firm managing Golden Visa and growth funds. Comparable as a domestic PE/VC manager offering similar residency-by-investment fund products.

Broad incumbents

• BPI Private Equity: Private equity arm of BPI, a major Portuguese bank, managing PE/VC funds in the Portuguese market. Comparable as a domestic PE/VC manager but with broader balance-sheet backing and wider product set.

Regional players

• Novabase Capital: Corporate venture and capital arm associated with Novabase, focused on technology investments in Portugal. Comparable as a Portuguese tech-focused investor, though primarily corporate venture activity.

Emerging players

• 2bpartner Capital: European private equity firm with activity in Portuguese Golden Visa funds and mid-market investments. Comparable as a manager of residency-by-investment eligible funds targeting similar investor segments.
• Silk Ven Capital: Portuguese fund manager specializing in Golden Visa eligible investment funds. Comparable as a smaller specialized competitor in the same residency-by-investment fund category.

Market position

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cedrus-capital

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments15 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cedrus Capital