# Unbound Fund **URL:** \ **Category:** Portugal Golden Visa\ **Tags:** portugal\ **Created:** [October 15, 2024, 7:55pm UTC](https://community.nomadgate.com/t/unbound-fund/66924 "2024-10-15T19:55:05Z")\ **Posts on this page:** 8\ **Page:** 1
**Author:** ![claytoncp](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/c/f1d935/32.png) [@claytoncp](https://community.nomadgate.com/u/claytoncp)\ **Post date:** [October 15, 2024, 7:55pm UTC](https://community.nomadgate.com/t/unbound-fund/66924/1 "2024-10-15T19:55:06Z")
I have been in contact with a group called Unbound Capital offering a Portuguese GV tied to a Bitcoin ETF. Has anyone else dealt with them? ---
**Author:** ![anonymous69](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/a/d26b3c/32.png) [@anonymous69](https://community.nomadgate.com/u/anonymous69)\ **Post date:** [October 15, 2024, 11:28pm UTC](https://community.nomadgate.com/t/unbound-fund/66924/2 "2024-10-15T23:28:56Z")
That sounds very fishy to me. How can bitcoin be an investment in the Portuguese economy? ---
**Author:** ![TommyReine](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/t/8491ac/32.png) [@TommyReine](https://community.nomadgate.com/u/TommyReine)\ **Post date:** [October 16, 2024, 8:43am UTC](https://community.nomadgate.com/t/unbound-fund/66924/3 "2024-10-16T08:43:33Z")
The fund is regulated by CMVM like any other fund in Portugal, with a reputable auditor, depositary and a fund advisor. There are no red flags to begin with ---
**Author:** ![cj807](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/c/fbc32d/32.png) [@cj807](https://community.nomadgate.com/u/cj807)\ **Post date:** [October 16, 2024, 8:53am UTC](https://community.nomadgate.com/t/unbound-fund/66924/4 "2024-10-16T08:53:23Z")
I think the issue would be whether it meets the Article 3(1)(vii) definition for ARI investments: _“the acquisition of shares in non-real estate collective investment undertakings, which are set up under Portuguese law, whose maturity, at the time of the investment, is at least five years and at least 60 percent of the value of the investments is made in commercial companies based in Portugal”_ It sounds like the fund would invest in Portuguese companies which ultimately hold Bitcoin ETFs, but are those “commercial companies”? Unclear. ---
**Author:** ![anonymous69](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/a/d26b3c/32.png) [@anonymous69](https://community.nomadgate.com/u/anonymous69)\ **Post date:** [October 16, 2024, 4:08pm UTC](https://community.nomadgate.com/t/unbound-fund/66924/5 "2024-10-16T16:08:44Z")
> [@cj807](#): > > It sounds like the fund would invest in Portuguese companies which ultimately hold Bitcoin ETFs, but are those “commercial companies”? Unclear. Yeah imagine you could just invest in Portuguese shell companies holding Vanguard’s US Stock Index funds. Would that be a desirable investment to your average American? Sure! Would it qualify for GV? That seems a stretch. ---
**Author:** ![Starts](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/s/3ec8ea/32.png) [@Starts](https://community.nomadgate.com/u/Starts)\ **Post date:** [October 16, 2024, 5:03pm UTC](https://community.nomadgate.com/t/unbound-fund/66924/6 "2024-10-16T17:03:48Z")
Where this would have potentially worked is under the now withdrawn GV ‘capital transfer’ route, this required the transfer of €1m ( later or €1.5m) in _Euros_ _or equivalent_ onto the balance sheet of Portuguese registered bank. I doubt these guys are a bank, and the route is closed now anyway. ---
**Author:** ![a.smith](https://community.nomadgate.com/letter_avatar_proxy/v4/letter/a/e8c25b/32.png) [@a.smith](https://community.nomadgate.com/u/a.smith)\ **Post date:** [January 21, 2025, 7:06pm UTC](https://community.nomadgate.com/t/unbound-fund/66924/7 "2025-01-21T19:06:13Z")
@claytoncp did you end up going with unbound capitals offering? if not, take a look at [Octanova](https://nomadgate.com/go/horizon-fund?source=forum) [horizon fund](https://nomadgate.com/go/horizon-fund?source=forum) which holds 65% corporate bonds and 35% bitcoin ETF. ---
**Author:** ![lemmy\_limpkin](https://community.nomadgate.com/user_avatar/community.nomadgate.com/lemmy_limpkin/32/9232_2.png) [@lemmy\_limpkin](https://community.nomadgate.com/u/lemmy_limpkin)\ **Post date:** [May 17, 2025, 3:09pm UTC](https://community.nomadgate.com/t/unbound-fund/66924/8 "2025-05-17T15:09:03Z")
Also interested in an update here.