OW Ventures Launches €10 Million Fund to Scale Portuguese Tech SMEs
Portuguese venture capital firm OW Ventures has announced the launch of a new €10 million investment fund aimed at accelerating the growth and internationalization of small and medium-sized tech enterprises (SMEs) in Portugal. Called the Tech Services Alliance fund, the initiative targets promising companies in the digital services and technology sectors, with a focus on scaling them beyond national borders.
The fund plans to raise €10 million over the next 12 to 18 months, with a first closing of €4 million expected by the end of the third quarter of 2025. OW Ventures will invest in between eight to twelve companies over the next four years, allocating up to €1.5 million per company. Follow-on investments will be considered for businesses demonstrating strong performance and international expansion potential.
Target sectors include IT services such as cloud computing, artificial intelligence, data analytics, cybersecurity, UX/UI design, and software development. The goal is not only to provide capital, but to foster collaboration among tech companies in Portugal, creating synergies, sharing resources, and increasing competitiveness abroad.
Luis Gutman, Managing Partner at OW Ventures, emphasized the strategic nature of the initiative: “We believe €10 million is well‑suited to support a robust and diversified portfolio of tech SMEs with ambition to scale internationally.”
Gabriel Coimbra, former Vice President of IDC Southern Europe and now a partner in the initiative, is playing a central role in engaging co-investors and building strategic partnerships. “Creating an alliance among Portuguese tech firms is crucial so they can complement their competencies, gain scale, and compete effectively in international markets,” he explained.
The fund’s expansion strategy is phased: the first 12 to 24 months will target growth in Western European markets, specifically Germany, the United Kingdom, and Ireland. In its third year, the fund will help more mature companies enter North America, focusing on Canada and the United States.
This launch comes at a time of rapid growth in the Western European tech services market, which is expected to expand by more than 18% annually and reach €225 billion by 2030. OW Ventures aims to position Portugal as a key player in this growth by supporting scalable, export-oriented tech firms with high added value.
With a strong leadership team, clear sectoral focus, and international ambitions, the Tech Services Alliance fund represents a significant opportunity for Portuguese tech SMEs to grow into global contenders, while also reinforcing Portugal’s status as an emerging European tech hub.