HWK

What HWK does

HWK TechInvestment S.G.E.I.C., S.A. is a privately-held Spanish investment management firm headquartered in Las Rozas de Madrid, regulated by the CNMV and CSSF Luxembourg, that operates two complementary technology-focused investment strategies. The first is HWK Venture Capital, which deploys tickets of €1-3 million into B2B software startups at Seed and Series A stages, concentrating on cybersecurity, artificial intelligence, and observability, with a current active portfolio of eight companies (Onum, Xygeni, Arexdata, Adaion, TuringDream, icloudCompliance, Qbeast, Vidext) and a documented exit track record including Panda Security, Devo, Kiuwan, Altitude Software, and beruby. The second is the Isatis Fund, a UCITS-regulated vehicle that invests in globally listed technology companies with market capitalization above $1 billion, organized across ten technology clusters (Data Center Infrastructure, Semiconductors, Networking, Cloud Platforms, Cybersecurity, SaaS, Payments, Fintech, IT Services, and Digital Advertising) with a dynamic investment universe of more than 100 companies across North America and Europe.

The firm generates revenue through management fees and carried interest on its venture capital vehicles (three CNMV-registered SCR entities: HWK TECH GLOBAL I, HWK TECH EUROPE II, and HWK TECH MULTI III) and on the Isatis UCITS fund, which is distributed through MyInvestor (primary digital platform with a €10 minimum via the B6 share class), Andbank, Bankinter, Banca March, and R4, with daily liquidity. The go-to-market is dual-track: direct sales and relationship management for VC tickets targeting qualified investors and family offices with a 48-hour response commitment, and platform/banking distribution for the retail-accessible Isatis Fund.

HWK differentiates itself through an operator-led investment approach — its senior team and operating partners include the former CEO of Panda Security, the former CIOs of Banco de Bilbao and Grupo Repsol, the founder of PROFit Gestión Informática (acquired by Sopra Group), and the former CFOs of Devo (pre-Insight Partners) and Onum (pre-CrowdStrike acquisition). The team totals approximately 15 professionals and is principally owned by Co-CIO José Sancho García; CEO Juan Santamaría Uriarte serves as Co-CIO. The firm is independent with no parent holding entity and does not disclose revenue or AUM publicly.

Name

HWK

Legal name

HWK TECHINVESTMENT S.G.E.I.C., S.A.

Website

https://hwk.es

Company type

Private

Operating status

Operating

Short description

HWK TechInvestment is a Spanish investment management firm operating two strategies: the Isatis UCITS fund, which invests in global listed technology companies above $1 billion in market cap, and a venture capital arm backing B2B software startups at Seed and Series A stages in cybersecurity, AI, and observability.

Ownership category

akta.pro rank

Product category

Technology Investment Management

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Mid-Market Buyout (FSANABAB)

akta.pro secondary industry

Business Services (B2B) Growth Equity (FSANACAD)

Keywords

• Technology investment management
• Venture capital fund
• UCITS technology fund
• B2B software investing
• Cybersecurity venture capital

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Venture Capital Fund Management: Management fees and carried interest from VC investments in B2B technology startups at seed and Series A stages. Investment tickets range from 1-3 million euros per investment.
2. Isatis Fund UCITS Management: European UCITS regulated fund investing in listed technology companies with market cap above $1 billion. Available through platforms with minimum investment from €10.
3. Regulated Investment Vehicle Operations: Multiple SCR (Sociedad de Capital Riesgo) entities operating under CNMV supervision including HWK TECH GLOBAL I, HWK TECH EUROPE II, and HWK TECH MULTI III.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

HWK TechInvestment operates two complementary technology-focused investment strategies. The Isatis Fund is a UCITS-regulated fund investing in publicly listed global technology companies with market capitalization exceeding $1 billion, organized across 10 technology clusters. The Venture Capital arm invests €1–3 million tickets in B2B software startups at Seed and Series A stages, with a thematic focus on cybersecurity, artificial intelligence, and observability. Both vehicles are regulated under European frameworks (CNMV Spain, CSSF Luxembourg).

Product overview

HWK TechInvestment operates two complementary investment strategies targeting the technology sector. The Isatis Fund is a UCITS vehicle investing in publicly listed technology companies with market caps exceeding $1 billion, organized across 10 technology clusters. HWK Venture Capital focuses on private B2B software startups at Seed and Series A stages, with 1-3 million euro investment tickets, targeting cybersecurity, AI, and observability. Both strategies are regulated under CNMV and CSSF Luxembourg supervision and are available to qualified investors and family offices.

Differentiator

Problem solved

Functional benefit

Products and services

• Isatis Fund (UCITS Technology Fund)

Quantifiable outcome

• Multiple successful exits in B2B technology sector
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• MyInvestorcoreChannel Partner/ Reseller/ DistributorPrimary digital distribution partner for Isatis Fund. MyInvestor is a Spanish digital investment platform enabling retail investors to access the fund with minimum investment of €10 and full self-service functionality.
• AndbankcoreChannel Partner/ Reseller/ DistributorAndbank, a private banking institution, distributes Isatis Fund to its high-net-worth client base, providing access to institutional-quality technology investments through the banking channel.
• BankintercoreChannel Partner/ Reseller/ DistributorBankinter distributes Isatis Fund to its retail and affluent client base through its digital and branch banking channels, expanding fund accessibility.
• Banca MarchcoreChannel Partner/ Reseller/ DistributorBanca March, a Spanish private banking institution, distributes Isatis Fund to its wealthy client base seeking technology sector exposure.
• R4coreChannel Partner/ Reseller/ DistributorR4, a Spanish investment services platform, distributes Isatis Fund to its client base, complementing the fund's distribution strategy.

Scale indicators6 records

Recent moves5 records

Expansion highlights6 records

Regional players

• K Fund: Spain-based early-stage venture capital firm investing in Spanish and European technology startups. Directly comparable Spanish/European B2B tech investor focused on early-stage rounds.
• Seaya Ventures: Spanish venture capital firm backing European technology entrepreneurs at early and growth stages. Comparable Spanish origin and focus on B2B tech category.
• Alma Mundi Ventures: Spanish/European venture capital firm investing in early-stage technology companies. Directly comparable as a Spain-domiciled VC with B2B tech focus.

Direct peers

• Index Ventures: Global venture capital firm with deep European roots, investing in seed-to-growth stage technology companies. Highly comparable in early-stage B2B software focus, pan-European presence, and dual London/Zurich/SF offices.
• Earlybird Venture Capital: One of Europe's largest early-stage venture capital investors with technology focus. Comparable to HWK in B2B software, deep-tech, and cybersecurity seed/Series A investing.
• Speedinvest: European early-stage venture capital firm investing across sectors including cybersecurity, fintech, and SaaS. Directly comparable in stage (seed/Series A), sector focus, and European orientation.
• Atomico: European venture capital firm founded by Skype's Niklas Zennström investing in early-to-growth stage technology companies. Directly comparable to HWK in focusing on European B2B tech with operator-led investment approach.
• Accel: Global early-stage venture firm known for enterprise software, cybersecurity, and SaaS investing. Comparable to HWK in targeting early-stage B2B tech founders with operator-style value add.

Broad incumbents

• Pictet Asset Management (Tech-focused funds): Large European asset manager offering technology-themed UCITS funds to retail and institutional investors. Comparable to HWK's Isatis Fund as a regulated European technology-focused public-equities fund.
• Allianz Global Investors (Technology Funds): Large global asset manager with technology-focused UCITS products distributed through banking channels across Europe. Comparable to Isatis Fund as institutional-grade tech equity UCITS distributed via bank partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hwk-techinvestment

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HWK