What OW Ventures does

OW Ventures, SCR S.A. is a Lisbon-based venture capital firm and regulated fund manager (CMVM Entity Nº 194727) with approximately 20 years of venture capital experience (origins around 2005), operating a multi-fund platform that invests in early-stage technology startups across Portugal and Brazil. The firm runs a stack of six distinct investment vehicles covering pre-seed (AngelsWay, a community-driven fund that raised over €1.2 million from 400+ small investors with a participatory voting model), seed (M4 Ventures, managed by C2 Capital SCR with OW Ventures representing the main LPs), planet-tech (Terralis Fund), tech services growth capital (Tech Services Alliance), and cross-border Brazil–Iberia (COREangels Atlantic) and pan-European SportsTech (COREangels SportsTech, a €5 million fund targeting 25–30 startups) mandates. To date, OW Ventures has deployed over €20 million across 70+ companies spanning digital health (Nutrium, which raised a €10 million U.S. expansion round), AI-driven customer service (Visor.ai), healthtech workforce platforms (MyCareforce), fintech (Paynest), wellness marketplaces (SheerMe), and data-privacy technology (Modatta).

The firm's underlying technology is operational rather than a single core platform: it integrates technology and AI into investment workflows, applies SFDR Article 6 sustainability risk frameworks, and operates under a CMVM-regulated governance stack that includes a confidential whistleblowing channel and adherence to the CMVM Alternative Dispute Resolution Protocol for disputes up to €30,000. Distribution runs through a community-led, event-driven GTM — corporate blog, the YouTube-hosted OWners Podcast founded by Managing Partner Luis Gutman, formal Investment Committee meetings, and logo partnerships with Startup Lisboa, Unicorn Factory Lisboa, and Startup Braga — combined with the COREangels global network for cross-border deal flow.

The business model is classic venture fund management: recurring management fees across the multi-fund stack plus carried interest on successful exits. Pricing is opaque (not publicly disclosed), but the AngelsWay model (€1.2M+ from 400+ small investors) and COREangels SportsTech structure (50–60 angels at ~€85,000 each in a €5M fund) reveal a deliberate democratization of LP access alongside traditional concentrated-ticket angels. Customer concentration sits at the moderate end: LP base is broad in AngelsWay but more concentrated in COREangels SportsTech and M4 Ventures, and the portfolio is diversified across 70+ companies though a few names (notably Nutrium) carry disproportionate realized value.

Name

OW Ventures

Legal name

OW Ventures, SCR S.A.

Website

https://owventures.pt

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

OW Ventures is a Lisbon-based, CMVM-regulated venture capital firm and fund manager that operates six investment vehicles spanning pre-seed, seed, planet-tech, tech services, and SportsTech, with €20M+ deployed across 70+ startups in Portugal and Brazil.

Ownership category

akta.pro rank

Product category

Venture Capital Fund Management

NAICS

Portfolio Management and Investment Advice (52394), Other Financial Vehicles (525990)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Venture Capital Fund-of-Funds (FSANAGAC)

Keywords

• Venture capital management
• Fund management services
• Angel investment funds
• Early-stage startup funding
• Private equity investing

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund management fees: OW Ventures earns recurring management fees as the regulated fund manager (CMVM Entity Nº 194727) across its portfolio of venture funds including AngelsWay, Terralis Fund, M4 Ventures, COREangels Atlantic, COREangels SportsTech, and Tech Services Alliance.
2. Carried interest / fund performance: As a venture capital firm investing in early-stage startups, OW Ventures generates performance-based revenue via carried interest on successful exits across its €20M+ deployed in 70+ companies.
3. Fund-of-funds / LP advisory representation: OW Ventures represents the main LPs of M4 Ventures (managed by C2 Capital SCR), generating fee/carry from principal investment and advisory representation.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels5 records

Core offering

OW Ventures is a Lisbon-based venture capital firm and regulated fund manager (CMVM Entity Nº 194727) that deploys capital across a portfolio of specialized early-stage investment vehicles, including AngelsWay (community-driven pre-seed), Terralis Fund (planet-tech), M4 Ventures (Portuguese tech seed), COREangels Atlantic (Brazil-Iberia cross-border), Tech Services Alliance (Portuguese tech services), and COREangels SportsTech (€5M pan-European SportsTech angel fund). The firm combines active hands-on investor support, ESG/SFDR-compliant frameworks, and a participatory community-driven investment model to back 70+ companies with over €20M deployed across Portugal and Brazil.

Product overview

OW Ventures is a venture capital firm and fund manager rather than a single software product; its offering is a platform-plus-modules architecture in which the central firm manages a family of distinct investment vehicles that target different stages, geographies, and verticals. The core 'platform' consists of M4 Ventures (seed, Portuguese tech with Brazilian expansion), Angels Way (community-driven pre-seed), Terralis Fund (planet-tech/environmental), COREangels Atlantic (cross-Atlantic Brazil–Iberia angel group), Tech Services Alliance (Portuguese tech-services VC), and the newly launched COREangels SportsTech (€5M pan-European SportsTech angel fund). Layered on top of this fund stack are media and community products such as the OWners Podcast and an active startup community page. All funds fall under OW Ventures' SFDR Article 6 sustainability framework and CMVM regulatory oversight (Entity Nº: 194727), with the firm additionally acting as signatory to CMVM's Alternative Dispute Resolution Protocol.

Differentiator

Problem solved

Functional benefit

Brands

• AngelsWay: Community-driven pre-seed investment fund based in Portugal that democratizes access to early-stage startup investing via a participatory model where all investors vote on deals.
• Terralis Fund
• M4 Ventures
• COREangels Atlantic
• COREangels SportsTech
• Tech Services Alliance

Products and services

• AngelsWay A community-driven pre-seed investment fund based in Portugal that democratizes early-stage startup investing through a fully participatory model in which all investors vote on deals and engage directly with portfolio companies. Raised over €1.2M from 400+ small investors and targets the earliest, riskiest stages of Portuguese startups.
• Terralis Fund A specialized planet-tech fund concentrated on investing in innovative early-stage businesses within the environmental technology sector, committed to backing projects with significant growth opportunities in environmental preservation and sustainability.
• M4 Ventures A seed fund focused on Portuguese technology startups with strong R&D capabilities and development roadmaps, supporting international expansion—especially into Brazil. Industry-agnostic with emphasis on software and globally scalable technologies. Managed by C2 Capital SCR, with OW Ventures representing main LPs.
• COREangels Atlantic A Lisbon-based angel investment group that supports Brazilian digital startups expanding into Europe via Portugal, and Iberian startups expanding into Brazil. Part of the COREangels global network, offering early-stage funding, strategic mentorship, and active involvement through a structured investment committee.
• Tech Services Alliance A VC fund focused on high-potential technology service companies based in Portugal, targeting Data & Analytics, Salesforce and ServiceNow consulting, Cloud Management, UX/UI Design, Software Development, and Cybersecurity.
• COREangels SportsTech A €5 million pan-European angel investment fund co-managed with COREangels that targets early-stage (pre-seed and seed) SportsTech startups. Plans 25–30 investments at average tickets of ~€120,000, focusing on AI & analytics, wearables & smart equipment, fan engagement platforms, club management software, esports, AR/VR, and health & recovery technologies.

Quantifiable outcome

• €20M+ deployed in 70+ companies
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• COREangelsflagshipStrategic or Co-development PartnerOW Ventures co-manages multiple funds with COREangels, including COREangels Atlantic (Lisbon-based angel group targeting Brazilian/Iberian cross-border startups) and COREangels SportsTech (€5M pan-European SportsTech angel fund). The SportsTech fund was launched in 2025 with the first Investment Committee meeting scheduled for 28 October 2025 and aims to invest in 25–30 startups at an average €120,000 ticket.
• C2 Capital SCRcoreStrategic or Co-development PartnerC2 Capital SCR manages the M4 Ventures seed fund (focused on Portuguese tech startups with international expansion ambitions, especially Brazil), while OW Ventures has a leading role representing the main LPs of the fund. M4 Ventures has backed Nutrium through several years and a €10M U.S. expansion round.
• Startup LisboaminorGTM or Marketing PartnerEcosystem partner displayed on the OW Ventures website; Portuguese startup hub supporting early-stage founders.
• Unicorn Factory LisboaminorGTM or Marketing PartnerEcosystem partner displayed on the OW Ventures website; Lisbon-based initiative to help startups scale into unicorns.
• Startup BragaminorGTM or Marketing PartnerEcosystem partner displayed on the OW Ventures website; Braga-based startup hub (Nutrium's home city).
• CMVM (Portuguese Securities Market Commission)coreOthersOW Ventures SCR, S.A. is regulated by CMVM (Entity Nº 194727) and is a signatory to the CMVM Dispute Resolution Protocol, committing to mediation and arbitration mechanisms for non-professional investor disputes up to €30,000 via Portugal's national arbitration network.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Faber Ventures: Iberian early-stage VC investing in software and tech-enabled startups from seed onward; comparable in stage focus and Portuguese deal-flow sourcing to OW Ventures' M4 Ventures and AngelsWay.
• Shilling VC: Portuguese venture capital firm investing in early-stage tech startups with a community-driven LP model; closely comparable to OW Ventures' participatory AngelsWay approach.
• Bynd Venture Capital: Portuguese early-stage VC focused on pre-seed and seed technology startups; competes in the same Lisbon ecosystem with overlapping LP and founder relationships.
• COREangels: Global angel network that co-manages COREangels Atlantic and COREangels SportsTech with OW Ventures; operates a similar community-driven, multi-chapter angel fund model across geographies.
• Indico Capital Partners: Lisbon-based early-stage venture capital firm investing in Iberian tech startups; competes for the same pre-seed/seed deal flow and Portugal-based founders as OW Ventures.
• C2 Capital SCR: Portuguese venture capital firm that manages the M4 Ventures seed fund alongside OW Ventures; competes directly for Portuguese tech deals with Brazil-expansion angle.
• HCapital: Portuguese early-stage VC backing tech startups from pre-seed through Series A; comparable in stage focus and geographic concentration on Portuguese founders.

Broad incumbents

• Portugal Ventures: Portuguese state-backed venture capital firm and one of the largest fund-of-funds/early-stage investors in Portugal; directly comparable as a regulated Portuguese VC manager targeting early-stage companies.
• EDP Ventures: Corporate venture capital arm of EDP targeting energy and sustainability startups; comparable as a Portuguese institutional VC investor with a thematic (planet-tech) mandate similar to OW Ventures' Terralis Fund.

Regional players

• Novabase Capital: Portuguese VC arm of Novabase focused on deep tech and tech-enabled services; overlaps with OW Ventures' Tech Services Alliance mandate in Portuguese tech services investing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@OWVentures

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 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 OW Ventures