IM Gestão de Ativos
70% owned since October 2026 (acquired from Grupo CIMD, which owned it from May 2015); arm of Fidelidade
Also known as IMGA, IM Gestão de Ativos – Sociedade Gestora de Organismos de Investimento Coletivo, S.A.
Lisbon asset manager, mainly of mutual funds (34 funds, €6.2B AUM at end-2025). Also runs four closed risk-capital funds: one VC (Futurum Tech) and R&D, logistics/retail and senior-living funds.
- HEADQUARTERS
- Lisbon, Portugal
- FOUNDED
- 1989
- AUM
- €6.2B (2025)
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 4 people
Focus
- STAGES
- —
- ASSET MIX
- Public equitiesVenture capitalPrivate equity
- GEOGRAPHY
- Portugal
Overview
IM Gestão de Ativos (IMGA) is a Lisbon-based management company for collective investment undertakings (SGOIC) that began activity on 27 April 1989 as Interfundos and is registered with the CMVM under number 184, authorised to manage mutual funds, alternative funds, venture capital funds (OICR) and social entrepreneurship funds. At 31 December 2025 it reported about €6.2B of assets under management across 34 funds and 182,898 participants, a 23.5% share of the Portuguese mutual fund market, distributed through Millennium bcp, ActivoBank, Crédito Agrícola, EuroBic ABANCA, Banco Invest, Bison Bank, Banco BiG, Banco Best, BNI Europa, Atlântico Europa and ABANCA; it describes itself as the largest independent asset manager in Portugal. It also offers institutional clients structured closed venture capital funds (FCRs), an activity started in 2020: Mondego Invest (CMVM code 1630, from 2 December 2020; equity and debt of logistics and retail companies), Capitalves SIFIDE (code 1675, from 31 December 2020; equity or quasi-equity in ANI-recognised R&D companies), Futurum Tech (code 2041, from 3 May 2024; Portuguese and Brazilian startups and scale-ups domiciled in Portugal with market traction, with the BPF-managed FdCR as investor under the PRR Venture Capital Programme) and Silver Domus (code 2275, from 14 October 2025; senior living). It has offices in Lisbon and Porto. It was wholly owned by Grupo CIMD from May 2015; Fidelidade signed to acquire 70% on 30 December 2025 and completed the acquisition, as reported by ECO on 2 October 2026. The executive committee is chaired by Emanuel Guilherme Louro da Silva, with Ana Rita Soares de Oliveira Gomes Viana and Mário Dúlio de Oliveira Negrão as executive directors.
Investment thesis
Mutual funds across money market, short-term, bonds, multi-asset, equities and PPR; closed FCRs structured for institutional clients, of which Futurum Tech targets Portuguese and Brazilian startups and scale-ups domiciled in Portugal with market traction and global ambitions.
People
- Emanuel Guilherme Louro da SilvaPresidente da Comissão Executiva (CEO); Vice-Presidente do Conselho de Administração · source
- Iñigo Trincado BovillePresidente do Conselho de Administração · source
- Ana Rita Soares de Oliveira Gomes VianaAdministradora (Comissão Executiva) · source
- Mário Dúlio de Oliveira NegrãoAdministrador (Comissão Executiva) · source
Links
Frequently asked questions
IM Gestão de Ativos is a private equity fund based in Lisbon, Portugal, founded in 1989.
Yes. IM Gestão de Ativos invests its own capital in private companies.
IM Gestão de Ativos invests in Fintech, HealthTech, Biotech & Life Sciences and Climate & Energy.
Key people at IM Gestão de Ativos include Emanuel Guilherme Louro da Silva (Presidente da Comissão Executiva (CEO); Vice-Presidente do Conselho de Administração), Iñigo Trincado Boville (Presidente do Conselho de Administração), Ana Rita Soares de Oliveira Gomes Viana (Administradora (Comissão Executiva)) and Mário Dúlio de Oliveira Negrão (Administrador (Comissão Executiva)).
Yes. IM Gestão de Ativos manages capital from outside investors.