Legal Notice
1. General Information
Confidential – Do not distribute. For professional/qualified/institutional clients only. This is a marketing communication. Please note that this legal notice needs to be read in conjunction with the relevant fund documentation, including the offering document, before making any final investment decisions.
This website provides general information about Restart SCR, S.A. (“Restart”), a regulated private equity fund manager. The content presented is intended solely for informational purposes and does not constitute an offer to sell, a solicitation to buy or subscribe, or a recommendation regarding any securities or investment products. References to investment strategies or Golden Visa–eligible funds are descriptive in nature and do not constitute marketing, promotion, or an invitation to invest. Any subscription, if available, must follow the Management Regulations, the Key Information Document and any other official fund documentation, and investors should not rely on this website for investment decisions.
The material herein, together with any verbal or written comments accompanying it, is provided for illustration and discussion purposes only and is not intended to be, nor should it be relied upon, construed or used as investment, tax or legal advice from Restart or any of its affiliated entities, or funds managed by any of them. This website has been prepared solely for informational purposes and does not, and is not intended to, form the basis of an investment decision. It may not be used for, nor construed as, an offer for sale or subscription of, or a solicitation of any offer to buy or subscribe for, any securities or other financial instruments or to engage in any other transaction with respect to any Restart fund. Any such offer, solicitation or invitation may only be made pursuant to the relevant offering document, limited partnership agreement, constitutional documentation and subscription materials, which may be provided to qualified investors on a confidential basis upon request.
Nothing contained in this website shall be deemed to be binding on, or to create any obligation or commitment by Restart or any of its affiliates, funds, partners, members, shareholders, managers, directors, officers, employees, agents, representatives or consultants. Recipients should seek their own independent legal, tax and financial advice. The information in this website is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to applicable law or regulation.
2. Regulatory Qualification
In the UK, this communication is directed only at persons within Articles 19(5) and 49(2) of the Financial Promotion Order under the Financial Services and Markets Act 2000 (and any other persons to whom it may lawfully be communicated). Other persons should not act on it. This communication has not been approved by an Authorised Person.
By accessing and/or viewing this website, you confirm that each of you and/or your client (i) is, if located, domiciled or with a registered office in the European Economic Area or the United Kingdom, a “professional client” (within the meaning of Annex II to Directive 2014/65/EU of the European Parliament and of the Council of 16 May 2014 on markets in financial instruments and article 4(1)(ag) of the Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on alternative investment fund managers) and related implementing measures in any relevant jurisdiction, including as implemented and retained in the United Kingdom following its exit from the European Union; (ii) is, if located, domiciled or with a registered office in the United States, an “accredited investor” as defined in Rule 501(a) of Regulation D under the United States Securities Act of 1933 and a “qualified purchaser” within the meaning of Section 2(a)(51) of the Investment Company Act; and/or (iii) is, if domiciled in any jurisdiction other than within the European Economic Area, the United Kingdom or the United States, suitably qualified and eligible under the relevant rules and regulations applicable to you in any jurisdiction applicable to you to receive this legal notice and to act on any of its contents, and whose access to and use of the information contained in this website does not contravene any applicable securities laws in that jurisdiction, and has not been effected through any general solicitation or general advertising, such as media advertising or public seminars.
You acknowledge that interests in Restart managed funds referred to herein have not been, and are not expected to be, registered under the securities laws of any of these jurisdictions. Accordingly, you will not be afforded any protections that would be provided by any such registration.
By accessing and/or viewing this website, you confirm that you possess the experience, knowledge and expertise to make your own investment decisions and to properly assess the risks of an investment in the proposed transaction.
Access to this website and the information contained herein is intended to be made available only to: (a) persons falling within one of the categories of “investment professionals” as defined in article 14 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (as amended) (the “CIS Promotion Order”); (b) persons falling within any categories of persons described in article 22 of the CIS Promotion Order, as well as article 19(5) and article 49 of the Financial Services and Markets Act 2000 (as amended) (the “FPO”); or (c) any other persons to whom it may lawfully be communicated in accordance with the CIS Promotion Order, the FPO, or to certain persons outside the United Kingdom to whom it may be lawfully communicated in accordance with applicable law (persons satisfying the criteria above being referred to as “relevant persons” or a “relevant person”).
The information contained in this website must not be acted on or relied on by persons who are not relevant persons and no person falling outside the category of relevant persons should treat the information contained herein as constituting a promotion. Any proposed transaction to which the information contained herein may relate is only available to relevant persons and will be engaged only with relevant persons.
3. Regulatory Disclaimers
The Prospectus Regulation (EU) 2017/1129 repealing Directive (2003/71/EC), as implemented in the European Economic Area and onshore in the United Kingdom following its exit from the European Union, includes exemptions from prospectus requirements arising under the aforementioned regulation and under the securities laws of the European Economic Area member states and the United Kingdom. Restart reserves the right to rely on such exemptions for any offering of interests, notwithstanding references to other provisions of the securities laws of any relevant jurisdiction.
This website constitutes marketing communication and is provided solely for informational purposes. It is not required by law, is not complete, and does not contain certain material disclosures, including risk factors relating to Restart or its funds. It is subject to change without notice and has not been approved by any regulatory authority.
4. Forward looking statements
This website may contain forward-looking information that is not purely historical in nature. Any assumptions, assessments, beliefs intended targets, statements or the like regarding future events, future market conditions or expectations, investment opportunities, market conditions or commentary or which are forward-looking contained herein or in any other written or oral information made available by Restart to the recipient (collectively, the “statements”) constitute only subjective and/or hypothetical views, outlooks, estimations or intentions, are based upon Restart’s expectations, assumptions, intentions, beliefs, should not be relied on, may be simplified and are subject to change due to a variety of factors , including without limitation fluctuating market conditions and economic factors, and involve inherent risks and uncertainties, both general and specific, many of which cannot be predicted or quantified and are beyond Restart’s or Restart Fund’s control. These statements may include terms such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue,” “believe,” or the negatives thereof or other variations thereon or comparable terminology. Future evidence and actual results could differ materially from those set forth in, contemplated by or underlying these statements.
Considering these risks and uncertainties, there can be no assurance and no representation or warranty is given as to as to the fairness or reasonableness of these statements or that these statements are now or will prove to be accurate or complete in any way and it should not be assumed that investments made in the future will be profitable or resemble the performance described herein. Reliance should not be placed on forward-looking statements, which speak only as of 1 September 2025 or such other date as specifically disclosed herein, and which are inherently non-factual. The information contained herein has been compiled as of 1 September 2025 or such other date as specifically disclosed herein and there is no obligation to update, supplement or correct any of the information presented herein and no such circumstances create any implication that the information herein has been updated, supplement or corrected as of any time subsequent to 1 September 2025 or such other date as specifically stated herein.
5. Information sources and limitations
The claims and/or statements herein without specific citations to third-party or published sources represent solely Restart views, opinions and /or beliefs based on its experience, proprietary data and internal analysis. There can be no assurance that other market participants would share the same views. In preparing this website, Restart has relied upon and assumed, without independent verification, the accuracy and completeness of all information available from published and non-published sources prepared by third parties, which in certain cases has not been updated through the date hereof. While such information is believed to be reliable for the purpose used in this website, Restart does not assume any responsibility for its accuracy or completeness.
Performance information may exclude periods prior to 2010 and certain investments outside the fund’s target geographies on the basis of the Manager’s belief that the characteristics of Restart’s investments in such target geographies are significantly different so as to be not relevant to the Fund. Unless otherwise indicated, information may be updated, supplemented or revised without notice. Neither Restart nor any of the Restart Funds or their affiliates undertake any duty or obligation to update or correct the information contained herein.
Unless otherwise indicated herein, the information presented is subject to material updating, supplementing, revision, correction, completion or amendment without notice. Neither Restart nor other affiliated undertake any duty or obligation to update or revise the information contained herein.
6. Past performance and Model Results
In all cases where historical performance is presented, please note that the past performance is not reliable indicator of future results and there can be no assurance that a Restart Fund will be able to achieve comparable results to any of those summarized in this website. Actual results may vary, may be materially lower and may involve a complete loss of investment. Nothing contained herein shall be relied upon as a promise or representation whether as to past or future performance or otherwise.
Certain information set forth herein is notional in nature and reflects the expected impact of fees and other charges resulting from the fees, carried interest arrangements and related amounts borne ultimately by investors in connection with an investment in any Restart fund Accordingly, the performance information set forth herein, including information based on projections which is notional and/or net of fees, differs from ordinary course disclosure on performance otherwise made from time to time by Restart.
Many figures here included are based on financial model results. Financial models are based on a range of assumptions and on information available at the time of the preparation. Financial model results do not represent actual outcomes, and they may not reflect the impact that material economic and market factors might have on Restart’s investment-related decision-making. Actual results may or may not correspond and may differ materially from the results of financial models. No reliance (including investment decision purposes) should be placed on the results of financial models.
7. Sustainability (ESG)
There is no guarantee that any ESG measures, targets, programs, commitments, incentives, initiatives or benefits will be implemented or applicable to the assets held by Funds managed by Restart and any implementation of such ESG measures, targets, programs, commitments, incentives, initiatives or benefits may be overridden or ignored at the sole discretion of Restart at any time and in accordance with relevant sectoral legislation unless otherwise specified in the relevant documentation or regulatory disclosures of such Fund, made pursuant to Regulation (EU) 2019/2088. Any ESG measures, targets, programs, commitments, incentives, initiatives or benefits referenced are not promoted to investors and do not bind any investment decisions or the management or stewardship of any Funds managed by Restart for the purpose of Regulation (EU) 2019/2088 unless otherwise specified in the relevant fund documentation or regulatory disclosures of such Restart Fund.
8. Logos and Trademarks
Logos generally are protected trademarks of their respective owners and Restart disclaims any association with them and any rights associated with such trademarks. The inclusion of any logos herein does not reflect an endorsement by the entity whose logo is included, nor does it represent or imply any affiliation with such entity.
9. Confidentiality Use and Restrictions
This legal notice may contain confidential or proprietary information. By accessing it, you agree to maintain confidentiality, refrain from unauthorized use, reproduction or distribution, and return or destroy materials upon request. Information herein may constitute inside information under the Market Abuse Regulation (EU) 596/2014 or material non-public information under U.S. law, and you agree not to disclose or trade on such information.
By acceptance and/or viewing of this legal notice, you agree that (I) the information contained herein is strictly confidential, is not for public dissemination and is for the exclusive use of the persons who are authorized to receive this legal notice, (II) the information contained herein may not be used, reproduced, distributed or otherwise communicated others, or referenced to publicly, in whole or in part, for any other purpose, except as expressly provided herein, without the prior written consent of Restart; (III) you will keep confidential all information contained herein or otherwise disclosed verbally or in writing in connection with the subject matter of this legal notice, not already explicitly in the public domain; (IV) the information contains highly confidential and proprietary “trade secrets”; and (V) you will only use the information contained in this legal notice for informational purposes. This website and its contents are proprietary to Restart.
Furthermore, information in this legal notice may be inside information for the purposes of the Market Abuse Regulation (EU) 596/2014, as in force and (where applicable) as implemented in each member state of the European Economic Area and as implemented and retained by the United Kingdom following its departure from the European Union. Information in this legal notice may also be material non-public information for the purposes of the U.S. insider trading regime. You agree that you will not disclose this information and/or trade on the basis of this legal notice where this would be a prohibited act for the purpose of these regulations.
10. Return Targets, hypothetical performance and performance figures
Return targets or objectives, if any, are used for measurement or comparison purposes and only as a guideline to evaluate the investment. Targeted returns reflect subjective determination by Restart based on a variety of factors including, among others, investment strategy, prior performance or similar products and strategies (if any), volatility measures, risk tolerance and market conditions. Performance may fluctuate, especially over short periods. Targeted returns should be evaluated over the time indicated and not over shorter periods. Targeted returns are not intended to be actual performance and should not be relied upon as an indication of actual or future performance. Restart’s beliefs and assumptions may or may not prove to be correct and there can be no assurance that any estimates, targets or projections are attainable or will be realized, and actual results may vary materially, and some include the possibility that, an investor therein may lose some or all of its invested capital in respect of the investment. The market for identifying, investing and realizing investment opportunities is highly competitive and involves a high degree of uncertainty. There can be no assurance that Restart Funds will be able to locate, consummate and exit investments that satisfy their objectives or realise upon their values or that the Fund will be able to fully invest its committed capital. Past performance is not indicative of future results. There can be no assurance that the Fund will achieve its objectives or avoid substantial losses. Historical returns obtained are not reliable and should not be relied upon as indicators of Restart Fund’s investment results.
Any hypothetical performance has been provided for illustrative purposes only and is not necessarily, and does not purport to be, indicative or a guarantee of future results. Hypothetical performance includes any performance targets, projections, multi-fund composites, pro forma returns adjustments or other similar information, and represents performance results that no individual Restart Fund, portfolio or investor has actually achieved. The preparation of such information is based on underlying assumptions, and because it does not represent the actual performance of any Restart Fund, portfolio or investor, it is subject to various risks and limitations that are not applicable to non-hypothetical performance information. For example, because cumulative multi-fund composite performance reflects different Restart Funds managed through various economic cycles, it is not, nor intended, to be representative of the anticipated experience of an investor in a single Restart Fund. Any preparation of hypothetical performances involves subjective judgements. Although Restart believes any hypothetical performance calculations described herein are based on reasonable assumptions, the use of different assumptions would produce different results. For the foregoing and other similar reasons, the comparability of hypothetical performance to the prior (or future) actual performance of a Restart Fund is limited, and prospective investors should not unduly rely on any such information in making an investment decision.
Unless otherwise indicated, performance figures are presented on a gross basis. Actual returns to investors will be lower due to the deduction of management fees, carried interest or incentive compensation expenses, taxes and other fund expenses. Investors are subject to such expenses, fees and carried interest as specified in the governing agreements of the relevant fund.
11. MOIC, IRR and Performance Methodology
Gross multiples of invested capital (“MOIC”) and gross internal rates of return (“IRR”) do not reflect management fees, carried interest, taxes, and other fund level expenses to be borne by investors. Net IRR are presented after deducting all management fees, carried interest and other fund level expenses borne by investors but do not include taxes, withholding or certain other expenses incurred by investors directly. An individual investor’s IRR generally will vary based upon the timing of the investor’s capital contributions and other factors disclosed herein, where a capital call credit facility has been used to finance investments. IRR figures are based on the investor’s capital call due date rather than the prior date on which the capital call credit facility was drawn up for investment; this may have the result of increasing IRR calculations (in some cases, materially).
12. Fund Management and Contact Details
Our fund is managed and marketed by Restart – SCR, S.A., authorized by the CMVM (registration no. 205386), with its registered office at Av. Almirante Gago Coutinho, 30, 5th Floor, 1000 017 Lisbon, Portugal. Distribution to unauthorized recipients and reproduction without prior written consent is prohibited. Subscriptions, if available, require completion of the Fund’s subscription form and acceptance by the Management Entity. Fund units are not admitted to trading on any regulated market or multilateral trading facility. Information provided may change without notice and may become outdated.
Investments involve significant risks, including the potential loss of all or a substantial portion of capital. Private equity strategies may be illiquid and suitable only for investors who do not require liquidity and can bear these risks. A full description of risks is provided in the Management Regulations and the Key Information Document, which must be reviewed before investing. All fees, expenses and interest carried out are described in the Management Regulations. Tax treatment depends on the investor’s personal circumstances and may change; independent tax advice is recommended.
Eligibility for residency-by-investment programs, including the Portuguese Golden Visa, is not guaranteed and depends on personal circumstances and applicable legislation. The Management Entity does not provide immigration advice and investors should obtain independent legal and immigration counsel.
The Management Regulations and the Key Information Document are available in English at the Management Entity’s office and upon request by email to ir@restart-scr.pt. To the extent permitted by law, the Management Entity accepts no liability for any losses arising from the use of, or reliance on, this website. Investment decisions must be based solely on the Fund’s official documents. For further information, please contact Restart – SCR, S.A. at the above address or at ir@restart-scr.pt.