Since the beginning of 2016, the Spanish economy is going through a hard time. Nevertheless, the entrepreneurs are standing it up to fight. With the arrival of new funding sources and incubator programs, startups in Spain are conquering new markets and attracting capital more easily than before. This article proposes to review in detail all of the most important Spanish VC investors that, currently, you should be aware of.
Top Venture Capital Firms in Spain
1. Caixa Capital Risc
Caixa Capital Risc is the venture capital arm of CriteriaCaixa which invests in innovative companies in their start-up and growth stages. The company has three specialised teams in the areas of Information Technology, Life Sciences, and Industrial technologies.
Caixa Capital Risc currently manages more than 200 million Euro through 9 specialised vehicles.
Total fund size: €181.1M
Caixa Capital Risc's most notable exits include Glovo, CornerJob, and SANIFIT.
2. Cabiedes & Partners
Cabiedes & Partners is a Spanish venture capital firm that provides seed funding and early-stage and later-stage investment services. Cabiedes & Partners was founded in 2009 and is headquartered in Madrid, Spain.
Total fund size: €58.8M
Cabiedes & Partners's most notable exits include Privalia, Deporvillage, and GIGAS.
3. Kibo Ventures
Kibo Ventures, based in Madrid (Spain) is a VC Fund focused on early-stage investments in digital companies.
Kibo Ventures manages $130 million from a mix of institutional and private investors, including IEF, Telefonica, the Spanish Government (through CDTI), Mutua Madrileña (Spain's largest insurance company) and Axis (ICO's 25year-old private equity arm).
Specifically, Kibo likes to invest in companies which combine exceptional and committed teams, aiming to digitalize a product or service in a big-enough market with international potential.
Kibo is managed by an experienced team of professionals with a solid track record, who are actively involved in the companies in which they invest.
Kibo follows a stage-investment approach and financially supports portfolio companies as they grow, whilst promoting co-investment from valuable investors.
Total fund size: €216M
Kibo Ventures's most notable exits include Bipi, Flywire, and Jetlore.
4. Centre for the Development of Industrial Tech
The Center for Industrial Technological Development (CDTI) is a public corporation under the Ministry of Economy and Competitiveness, which promotes innovation and technological development of Spanish companies. Is the entity which channels requests for funding and support to projects I + D + i of Spanish companies in the national and international levels.
The CDTI has a staff of more than 300 people formed three quarters of engineers and graduates. Although the bulk of the infrastructure of the CDTI is located in Madrid, the Centre offers Spanish companies a strategic network of offices and representatives abroad (Japan -SBTO (Spain Business and Technology Office) - Belgium -SOST (Spain Office of Science and Technology) and Permanent Secretariat Eureka-, Brazil -FINEP (Financier of Studies and Projects) -, Korea, Chile, Morocco, China, India, Mexico and USA) to support them in their technological activities of type int .
Centre for the Development of Industrial Technology (CDTI)'s most notable exits include BioTech Foods, HOPU Smart Cities, and Greene Waste to Energy SL.
5. Alma Mundi Ventures
Alma Mundi Ventures is a venture capital firm that funds primarily technology-based companies with B2B and B2B2C business models. The firms' third fund is an InsurTech Venture Fund with a European focus, backed by leading European international insurance companies and Mutuality Funds, investing between 1M and 7M in Series A, B, and C of leading European insurance startups.
AMV is headquartered in Madrid but with an operational presence in Barcelona, London and Seattle.
Total fund size: $200M
Alma Mundi Ventures's most notable exits include RubiconMD, Shift Technology, and AstroPrint.
6. Seaya Ventures
Seaya Ventures is a Spanish venture fund investing in early and growth-stage Internet and technology-enabled companies in Spain and Latin America. The firm seeks to transform early and growth-stage companies into category leaders, with a focus on innovative businesses that require growth or expansion capital and can build lasting value.
Its investments are focused on products and services that facilitate the migration to a digital world such as digital marketplaces, consumer and internet media, consumer and mobile media, enterprise, and consumer software and services, and Payment: Internet and Mobile.
Total fund size: €623.7M
Seaya Ventures's most notable exits include Wallbox, Glovo, and Revelock.
7. JME Ventures
JME Venture Capital is an early-stage investment fund based in Madrid and Barcelona. The company was established in 2009 and is based in Madrid, Spain.
Total fund size: €60M.
JME Ventures's most notable exits include Flywire, Jetlore, and Reply.ai.
8. All Iron Ventures
All Iron Ventures partners up with bold founders promoting innovative startups. We mainly invest in the early stages of European companies that aspire to reshape the future of both consumers and enterprises through technology.
We at All Iron Ventures have been and continue to be entrepreneurs. We know what it is to be a founder and empathize with the challenges our partner founders face. We put our resources and experience creating, scaling and selling companies at their disposal to help them take their projects to the next level.
Based in Bilbao, Spain, and with approximately €110Mn under management, All Iron Ventures was promoted by the founders of Ticketbis, a global marketplace sold to eBay in 2016, in what is one of the main success stories in Spain’s startup ecosystem.
Total fund size: $108.6M
All Iron Ventures's most notable exits include Deporvillage and Reply.ai.
9. K Fund
K Fund is a multi-stage venture capital firm that provides early-stage venture investments to startups across Spain, Portugal and Latin America. We believe in promoting the evolution of the Spanish ecosystem by investing in digital-first companies.
K fund was founded in 2016 by Inaki Arolla, Carina Szpilka and Ian Noel and is based in Madrid, with offices in Barcelona and Lisbon.
Total fund size: €370M
K Fund's most notable exits include Transparent, Billin, and Frontity.
10. ICF Capital
ICF Capital is a venture and growth capital management firm from ICF. ICF is a public financial institution founded in 1985 and owned by the Government of Catalonia. Our mission is to foster and improve access to funding for companies that operate in Catalonia in order to contribute to the growth of the region's economy while complementing the private financial sector. ICF provides funding to Catalan companies and entrepreneurs. They assist them in their development and growth, generating value for society at large. The institution offers companies a range of products and services in the area of corporate finance, focusing on loans and guarantees and venture capital investments. ICF operates via a parent company, two subsidiaries (IFEM and ICF Capital), and an investee (AVALIS). ICF, through IFEM, supports the creation and growth of innovative start-ups through the investment in venture capital funds for seed segments and co-investment with private investors through participative loans. ICF Capital, which manages closed-end UCITS and is authorized by Spain's National Securities Market Commission (CNMV), manages, nurtures, and advises public and/or private funds or venture capital firms that provide capital to Catalan companies. At present, ICF Capital directly manages 2 venture capital firms: ICF Capital Expansió II and ICF Venture Tech II.
Total fund size: €100M
ICF Capital's most notable exits include Oryzon Genomics SA, Agile Content, and Photoslurp.