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Institutional LPPuts its own capital into companiesLAST VERIFIED Oct 2026 · 3 SOURCES

FLAD – Fundação Luso-Americana para o Desenvolvimento

Also known as FLAD, Luso-American Development Foundation, Fundação Luso-Americana

Portuguese private foundation set up in 1985 with an €85M endowment, now €130.9M (2025) mostly in index funds; owns a participation in Indico Venture Capital Fund I – FCR.

HEADQUARTERS
Lisbon, Portugal
FOUNDED
1985
AUM
€130.9M (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
3 people

Focus

STAGES
—
SECTORS
—
ASSET MIX
Public equitiesVenture capital
GEOGRAPHY
—

Overview

FLAD was created on 20 May 1985 by Decree-Law 168/85, following the 1983 Portugal–United States cooperation and defence agreement, as a private, financially autonomous Portuguese foundation endowed with €85M. It funds science, education, culture and transatlantic programmes from the returns on that endowment. At the end of 2025 the managed portfolio was valued at €130.9M (bonds, equities and gold, invested mainly through index funds), and the foundation also held small unlisted stakes and venture capital fund interests, including a participation in Indico Venture Capital Fund I – FCR on which capital remained to be paid in at the end of 2025.

PORTFOLIO (8)

  • Indico Venture Capital Fund I – FCR
  • FCR Portugal Global Ventures I
    Exited (2025)
  • FCR PT Ventures ACTEC II
    Exited (2025)
  • Grow Energy Invest, S.A.
    Exited (2025)
  • Privado Holding, SGPS, S.A.
  • Biotecnol – Serviços e Desenvolvimento, S.A.
    Biotech & Life Sciences
  • Startup Braga
  • TagusPark

People

  • Nuno de Albuquerque de Morais Sarmento
    President of the Board of Directors and of the Executive Board · source
  • Michael Alvin Baum, Jr.
    Member of the Board of Directors and of the Executive Board · source
  • Isabel Mota
    President of the Board of Trustees (Conselho de Curadores) · source

Links

Frequently asked questions

FLAD – Fundação Luso-Americana para o Desenvolvimento is a institutional investor based in Lisbon, Portugal, founded in 1985.

Yes. FLAD – Fundação Luso-Americana para o Desenvolvimento invests its own capital in private companies. It also commits capital to third-party funds as an LP.

Key people at FLAD – Fundação Luso-Americana para o Desenvolvimento include Nuno de Albuquerque de Morais Sarmento (President of the Board of Directors and of the Executive Board), Michael Alvin Baum, Jr. (Member of the Board of Directors and of the Executive Board) and Isabel Mota (President of the Board of Trustees (Conselho de Curadores)).

FLAD – Fundação Luso-Americana para o Desenvolvimento's investments include Indico Venture Capital Fund I – FCR, FCR Portugal Global Ventures I, FCR PT Ventures ACTEC II, Grow Energy Invest, S.A., Privado Holding, SGPS, S.A., Biotecnol – Serviços e Desenvolvimento, S.A., Startup Braga and TagusPark.

No. FLAD – Fundação Luso-Americana para o Desenvolvimento invests its own capital and does not raise money from outside investors.