About This Fund
BlueCrow Capital Next Tech Fund I is a Portugal-based venture capital fund managed by BlueCrow Capital, a Lisbon-headquartered asset manager specialising in technology innovation. Launched in 2020 as a closed-end vehicle with an ISIN of PTBLWJIM0013, the fund represents one of the first dedicated technology venture capital funds in Portugal to focus entirely on innovative technological solutions, with a particular emphasis on artificial intelligence, machine learning, and digital infrastructure applications. With a target raise of €100 million and a minimum subscription of €50,000, the fund is structured for professional and semi-professional investors seeking direct exposure to Portugal's emerging technology ecosystem.
The fund pursues investments in growth-stage Portuguese technology companies exhibiting differentiated solutions with a global outlook and clear international scalability. Its investment thesis centres on five key verticals: software and digital platforms including SaaS, cloud, and analytics; technology applied to industry and services spanning energy, construction, healthcare, and logistics; digital infrastructure and cybersecurity; artificial intelligence and machine learning; and sustainability-focused technology. The vehicle targets 18 to 22 portfolio companies with average ticket sizes between €3 million and €6 million, structured around a nine-year active investment period within a 16-year total fund life. BlueCrow Capital provides portfolio companies with capital and active management support and international expansion strategy assistance, leveraging its established network within Portugal's innovation ecosystem.
Since its 2020 launch, Next Tech Fund I has been active in deploying capital into Portugal's burgeoning technology ecosystem. Among its known investments is AGENTIFAI, an artificial intelligence company backed through a Series A round in December 2021, demonstrating the fund's conviction in AI-native businesses at growth inflection points. The fund targets an expected annual return of 17%, reflecting its positioning in high-growth technology companies with global market potential. BlueCrow Capital leverages its established network within Portugal's innovation and startup ecosystem to source proprietary deal flow and support portfolio founders in their international growth ambitions.