Explorer Logo

How We Create Value

We share our international mindset, our experience, and our network.

We breathe new life into assets and operations, boosting sales and marketing, and build their reputation on the global stage.

We have done this successfully through multiple economic cycles and across multiple strategies and sectors: our reputation for determination, resilience and sustainable performance is well-earned.

How We Create Value

Your Golden Visa Investment
& Advisory Team

€ 1.8BAUM
+20Years of Experience
3xTarget MOIC
Golden
Visa

Our team is dedicated to supporting you with transparency and efficiency. We’re here to assist with anything you need, ensuring a smooth and seamless experience. Contact André and Maria for more information.

Who Is Our Leadership Team?

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Meet Our Investment Professionals

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Invest with Explorer and secure your Golden Visa

…supported by value creation across our investment model levers

EXPLORER III achieved a +3x MOIC and ~22% Gross IRR

3xTarget MOICi
~22%Gross IRR (Explorer III)i
43%Avg. Multiple Expansioni
€1.8BAUMi
Equity Invested
100Equity Invested
100

Initial equity capital committed to the strategy.

EBITDA Increase
88EBITDA Increase
88
OPERATIONAL IMPACT

Transformation plan grows EBITDA at 10% CAGR via efficiency and export growth.

Cash Generation
44Cash Generation
44
CASH GENERATION

Low-risk, resilient companies that reliably generate cash without excessive leverage.

Multiple Expansion
68Multiple Expansion
68
BUYING, SELLING WELL

Proprietary sourcing in a less competitive market and exits to international buyers.

Average multiple expansion from entry to exit was 43% (from 5.3x to 7.6x).

Total Realised Return
0
Ratio vs. equity invested: ~3x MOIC
Institutional-grade strategyLow leverage, cash-flow focusProprietary deal-flow
Equity Invested
EBITDA Increase
Cash Generation
Multiple Expansion
Total Realised Return
Performance Focus

The strategy combines operational growth, cash generation, and multiple expansion — delivering consistent profitability.

Explorer’s Fund — Regulated by CMVM

Backed by Portugal’s Largest Private Equity Fund

CMVM Logo
€1.8BN
Assets Under Management
As of 4 November 2025
Our Vision

Our Vision

Elizabeth Rothfield, Founding Partner, CEO

I am proud of the extraordinary impact we have had on our portfolio and in the wider community. We are embracing the next decades of our story with energy and confidence.

Explorer has been investing successfully for more than 20 years, but there is still much more to be done. Huge opportunities lie ahead.

Background

Invest in Portugal’s

Leading private equity fund with €1.8B AUM.

Secure EU residency, citizenship — and high-growth potential.

Fetching weather...

Our Values

Our people are at the center of all aspects of Explorer’s work. Although they have different roles and diverse backgrounds, they all share one common belief – a commitment to a shared set of values.

  • Independence – We are independent thinkers, always ready to challenge the status quo.
  • Team Spirit – We work closely with our colleagues and partners towards our shared success.
  • Initiative – We have a proactive attitude and are always ready to drive positive change.
  • Resilience – We overcome challenges with creativity and determination; we never give up.
  • Generosity – Encompasses all our values, guiding how we think, collaborate, and overcome challenges together.
Our Values

What our investors say

“I wanted a safe way to get residency, but also something that made financial sense. Explorer was the only fund that gave me access alongside institutions—and real returns.”

“The only fund I found that lets Golden Visa investors co-invest with large institutions. That gave me all the confidence I needed to go ahead.”

“I was impressed by how transparent and available the Explorer team was. I always knew where my investment stood—and how it was performing.”

Quick access to the main areas

Explorer Investments

Our Upcoming Presence

Will you meet André Bandeira (Investor Relations) at the event or would you prefer to schedule a call?

Brazil Private Markets Meeting

André Bandeira — Investor Relations

In-person

November 11, 2025
Rosewood São PauloSão Paulo, Brazil

Focused on Brazil’s private markets ecosystem, connecting institutional investors, family offices, and managers around opportunities and trends.

Download the Golden Visa Guide 2025 — Free

Get your complete, free guide to the Portuguese Golden Visa. Learn how to invest with confidence through Explorer Investments, the country's largest private equity fund.

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