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28 February 2023·13 min read

Katarzyna Groszkowska

Editor, Vestbee

Top VC Funds In Spain To Finance Your Startup

Spain's VC and startup scene is blooming, attaining 16th position worldwide. There is a large concentration of these enterprises in cities such as Madrid, Barcelona, and Valencia - these hubs of creativity are driving the nation's ecosystem. In terms of what Spanish startups specialize in, e-commerce, food tech, and health tech are the standout areas.

Let's explore the most active venture capital funds in Spain - they are the ones supplying the capital needed to make Spanish innovation possible.

Demium

Geography: Europe
Preferred industries: Sector-agnostic
Investment ticket: €150K - €500K
Company stage:  Pre-seed and seed

Demium is a well-known international talent investor, established in Spain to support leading professionals in launching successful projects with prominent digital and technological components. Their portfolio companies can count not only on the capital injections but also on well-rounded support, which includes access to a community of like-minded entrepreneurs and mentors as well as incubation services. Demium also provides a gateway to a broader network of angel investors and other VC firms and is dedicated to long-term partnerships. With over 1000 investors in their network, since 2020 they have invested over €15M, directing visionary talents on the way to success.

Inveready

Geography: Europe
Preferred industries: Life sciences, deep tech
Investment ticket: €250K - €2M
Company stage: Early to growth stage

Inveready is a leading asset manager in Spain, with many investment propositions under its belt, including VC (both early stage and growth), venture debt, strategic public equity, private equity and infrastructure. They are specialized in supporting companies throughout their whole life cycle, and in their 15 years of activities they have backed startups that were later acquired by multinationals such as Intel, Symantec, IBM, and Facebook; well-known international funds and made their public listings on stock exchanges all over the world. In their financial decision making they are led by values such as passion, empathy, humility, autonomy and trust, at the same time emphasizing collaboration and effectiveness, seeking a balance between investment and return. They run two subject-specific VC funds - VC Digital Technology and VC Life Sciences.

Cemex Ventures

Geography: Global
Preferred industries: Green construction, enhanced productivity, construction supply chain, future of construction
Investment ticket: Undisclosed
Company stage: Early-stage

Cemex Ventures is a CVC and open innovation arm of Cemex, investing with a global focus and seeking innovative, sustainable, and promising startups, driving the construction industry revolution. They are on the lookout for market-driven companies operating in the construction field, in all stages of growth - from the early phase to a commercialIzation. They specifically look for solutions that add value to the constructive ecosystem, leading a green transition to a Low-Carbon Economy by decarbonizing the built environment, increasing productivity, helping the key actors in the supply chain by optimizing resource sourcing or building a better planet with robotics and machine-assisted applications, advanced building materials and industrialized construction methodologies. Their portfolio companies can benefit from the expertise provided by leaders in the field and unique access to the market.

Seaya Ventures

Geography: Europe
Preferred industries: sector-agnostic
Investment ticket: €2M-€8M
Company stage: Pre-series A / Series A / Series B

Seaya is a multi-sector fund, seeking outstanding and mission-driven European founders, to develop innovative tech companies. Their international platform is created to enhance the vision of promising entrepreneurs, through a variety of targeted programs. They include Seava Ventures, for impact-driven companies looking for long-term partnerships; Seaya Andromeda - a sustainability fund addressing the key global climate challenges through tech solutions; Seaya Cathay Latam - a multi-sector fund for startups shaping the industry and society across Latin America.

Nauta Capital

Geography: Europe
Preferred industries: B2B SaaS
Investment ticket: €1M‐€5M
Company stage: late Seed to series B

Nauta Capital is an early-stage pan-European investor, targeting capital-efficient disruptors, ready to challenge the status quo, especially in large industries where technology has had limited impact to date. They are specifically looking for innovative companies from seed to Stage A, with a global mindset and B2B SaaS solutions, enterprise tech, and deep tech applications solving challenges faced by large enterprises. Their portfolio companies can count on more than just capital investment, as Nauta Capital chooses a hands-on approach, working closely with entrepreneurs and helping them on the scaling journey through strategic advice on hiring, legal, marketing & PR as well as global expansion, acquisitions and exits.

Samaipata

Geography: Europe
Preferred industries: Sector agnostic, investing in digital platforms with network effects
Investment ticket: €500K-€3M
Company stage: pre-seed and seed

Samaipata is an early-stage founders' fund investing in digital businesses with network effects, across Europe, with team members located across Paris, London, and Madrid. They are focused on backing visionary founders with bold ideas and a desire to create a big and meaningful change in the world. To do so, they provide entrepreneurs with a Founders Success Platform, helping them unlock capital, talent, and scalability as well as providing access to an empowering community and mentorships. They cover all challenges that founders are likely to face in their journeys, preparing them for fundraising rounds and connecting with experts and senior industry players.

K Fund

Geography: Spain, southern Europe and Latin America
Preferred industries: sector-agnostic
Investment ticket: €100k to €10M
Company stage: pre-seed to series B

K Fund is a venture capital fund based in Madrid and founded in 2016. It backs founders across Southern Europe and Latin America, from Seed to Series B, developing business or consumer products and services across sectors such as information technology, gaming, the internet of things, mobile, big data, e-commerce, and technology-based propositions. They invest €100k to €10M in entrepreneurs with the capacity to create differentiated technology-based products and services, all across simple and easy-to-understand terms.

All Iron Ventures

Geography: Europe
Preferred industries: Sector agnostic, but not investing in deep tech or life sciences
Investment ticket: €300k-3m
Company stage: Seed and series A

A well-known Spanish fund established in 2018, All Iron Ventures partners with innovative founders, supporting them on their scaling journey. They have a flexible investment approach, adjusting the measures taken to ensure a favourable outcome for their portfolio companies. They are also focused on collaboration - not only with entrepreneurs but also with other international investors, which had joined them for successful co-investments. They back diverse projects including marketplaces, subscription, and SaaS, across sectors, in seed or Series A rounds with a core market in Europe but a global vision.

Kibo Ventures

Geography: Europe
Preferred industries: Sector agnostic, but not investing in deep tech or life sciences
Investment ticket: €1m-€5m
Company stage: pre-series A and Series A

Based in Madrid, Kibo Ventures was established to empower diverse European tech entrepreneurs to solve big problems and help them scale. They are known for a diverse and large team of operational and investment experts with deep international networks in Europe and the US including some of the best founders, investors and corporates. In their financial decision making they include the ESG criteria, with the mission to commit to impact, and diversity and believe in driving global positive impact while achieving top returns. They are sector-agnostic, choosing both consumer and enterprise software, leading (or co-leading) rounds up until Series A.

CAIXA CAPITAL RISC

Geography: Spain and Portugal
Preferred industries: life sciences, digital technology and industrial sectors
Investment ticket: undisclosed
Company stage: early-stage

Caixa Capital Risc is a Barcelona-based venture capital arm of CriteriaCaixa, investing in innovative companies from early to growth stages. The fund has three specialized teams in the areas of Information Technology, Life Sciences, and Industrial technologies. In the Life Sciences verticals, they are primarily seeking companies with disruptive technologies that address an unmet medical need or work with innovative therapies, usually at series A or B, or even the seed stage, if the technology is truly groundbreaking. In the IT vertical, they invest in initial phases in B2B companies, which specialize in Artificial Intelligence / Machine Learning, Big Data / Analytics, the Internet of Things, Cybersecurity, Cloud Infrastructure and more. The industrial technology arm is focused on sectors such as Manufacturing industries, Industrial devices, Agricultural Sector, Products and services linked to increasing energy efficiency and energy generation and Sustainability. Throughout all activities, the fund looks for highly motivated and committed teams with the technical and managerial skills necessary to develop the project.

Encomenda Smart Capital

Geography: Spain, Portugal, LatAm
Preferred industries: Sector-agnostic
Investment ticket: €70K to €300K
Company stage: Seed

Encomenda Smart Capital is a unique investor, which combines the philosophy and attitude of angel investing with the capacity of a venture capital company. They are seeking seed digital companies to help them make strategic decisions, scale, organize, implement financial planning, seek new talents, and analyze their market position. Their initial investment ranges from 100K€ to 350K€, with the possibility to invest up to 1,8M€ per company. So far they have invested in more than 150 early-stage startups, mostly located in Spain. In their activities, they are characterized by being entrepreneur-oriented, with a hands-on approach to decision-making and fast execution, without bureaucracy.

JME Ventures

Geography: Europe, US
Preferred industries: Sector agnostic
Investment ticket: Undisclosed
Company stage: Early-stage

JME Ventures are the pioneers of the Spanish VC ecosystem, building successful startups and partnering with the best Spanish entrepreneurs and international investors to generate top results. They are not only looking to support with capital but also provide their portfolio companies with a plethora of educational and strategic support, needed to succeed in a competitive environment. Moreover, they are interested in long-term collaborations, from the initial idea to the exit and they are not afraid to invest in the early stages.

Adara Ventures

Geography: Europe
Preferred industries: B2B opportunities in cybersecurity, data and applications, infrastructure, DevOps, components and digital health
Investment ticket: Undisclosed
Company stage: Early-stage

Adara Ventures is a European investor headquartered in Luxembourg and Madrid, managing four VC funds that have so far backed more than 41 companies. They seek out entrepreneurs with vision, courage and capacity to execute these big plans. To be eligible for Adara’s support startups should be at the early stage of growth, solving complex problems in the B2B sector with breakthrough solutions in cybersecurity, data and applications, infrastructure, DevOps, components and digital health. Their focus lies on European teams which tap into global market opportunities. In return, they broaden the founders' network with their international perspective, a world-class team and strong connections, engaging in the long-term - from seed to exit.

GOHUB Ventures

Geography: Europe, LatAm
Preferred industries: B2B SaaS
Investment ticket: Up to €250K at the seed stage, €500K to €3M throughout the growth stages
Company stage: Early-stage

GoHub is the corporate venture fund of Global Omnium, one of the world's top five water utilities and it operates with the mission to utilize its technical know-how, not only in the water industry. They are on the lookout for B2B deep tech startups, which are driving industrial and economic digitalization and looking for rapid growth. They should be developing their disruptive solutions not only for water management but also with agnostic technologies that can be deployed in different sectors for process automation and optimization - including sectors such as IoT, AI, AR/VR, 5G, cybersecurity, quantum computing and more. In their investment decision making GoHub takes into consideration the following criteria: process automation, cost optimization, product innovation and the implementation of ESG principles. On top of the financial support, they also provide their portfolio companies with unique access to a corporate ecosystem of Global Omnium and its partners, serving as a gateway to the industry.

Mundi Ventures

Geography: Europe
Preferred industries: Insurtech and insurance-adjacent
Investment ticket: €5M to 10M
Company stage: Series A - B

Mundi Ventures, headquartered in Madrid, is a VC firm investing in early and growth-stage technology ventures, with the long-term goal of helping individuals, businesses, and society manage an increasingly risky world through technology. They are specifically interested in companies originating from the global Spanish-speaking diaspora. The core activities of their portfolio companies usually centre around insurtech/insurance-adjacent technology, fintech and enterprise tech. Moreover, in their activities, they are led by ESG principles, backing purpose-driven founders and supporting them o further realize their unique sustainability goals. Climate change and gender equality are their special focus areas and they help their portfolio companies to offer the transition into a resilient lower carbon economy and work with startups to increase gender diversity in the senior management in case the founding team lacks such diversity at the time of the investment.

Sabadell Ventures

Geography: Europe
Preferred industries: Sector-agnostic
Investment ticket: €200k to 2M
Company stage: Seed, series A

Sabadell Venture Capital is the Venture Capital division of Banco Sabadell, created to support early-stage startups, up until the series A round. They are looking for digital and technological companies with high growth potential and innovative business models to provide all-rounded support and industry expertise. Usually, they take a minority stake in companies, backing them through Venture Debt and adding value to businesses throughout all stages of growth.

4 Founders Capital

Geography: Europe
Preferred industries: Internet and technology-enabled businesses
Investment ticket: €100K to €4M
Company stage: Pre-seed stages to Series A+

4 Founders Capital is a VC fund, headquartered in Barcelona and composed of serial entrepreneurs, co-founders, and CEOs, looking to share their expertise and build high-impact global tech companies. Usually, they get involved in the early stages, co-investing with business angels or other VC funds with solid experience managing successful companies in the same or related industries. Their area of interest lies in internet and tech-enabled businesses in Spain and Europe with a solid founding team, international mindset, and the ambition to create a big dent in the industry. On top of that, their portfolio companies have a clear focus on EBITDA generation, and high revenue growth and can efficiently make use of the capital within a large and global addressable market.

Asabys Partners

Geography: Europe
Preferred industries: Biotech and healthtech
Investment ticket: Undisclosed
Company stage: Seed to series B

Asabys is a Barcelona-based investment firm, specialising in healthcare and life science innovation. They seek out impact-driven companies, developing breakthrough solutions and transformative technologies to push the boundaries of what modern medicine can do, improving patients’ lives. In their activities they exemplify a hands-on approach, treating their portfolio companies as partners and collaborators. Asabys is also a pioneer firm in the life science venture capital industry obtaining the Sustainable Development Goals certification set by the United Nations.

CLAVE

Geography: Mainly Spain
Preferred industries: Health, medtech, ehealth, nutrition, and biotech
Investment ticket: Undisclosed
Company stage: Early-stage

Clave is a venture capital manager, with a long history of more than 90 investments. They engage in technology transfer projects, industrial SMEs, and renewable energy solutions, encouraging close and direct collaboration with all stakeholders of the investment process - managers, developers, founding teams, investors, and the innovation ecosystem around entrepreneurs. Recently they have launched a new €80M fund dedicated to solutions from the field of health - including medtech, ehealth, nutrition, and biotech.

Related Posts:

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Top VC Funds In Turkey To Finance Your Startup (by Katarzyna Groszkowska, Editor, Vestbee)

Top VC Funds In Greece To Finance Your Startup (by Olga Chechłacz, Editor, Vestbee)



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