About This Fund
4Founders Capital III is a €70 million venture capital fund focused on pre-seed and seed-stage B2B technology startups, managed by 4Founders Capital, a Barcelona-based firm founded in 2017 by Jesús Monleón, Javier Pérez-Tenessa, Marc Badosa, Marek Fodor, and Paula Blázquez. Registered with Spain's CNMV as '4FOUNDERS CAPITAL III, F.C.R.E., S.A.' (NIF: A19842020), Fund III is the firm's third successive fund targeting the same foundational thesis: backing high-growth technology startups with global scalability ambitions, strong EBITDA orientation, and — increasingly — a core AI component. The main investors include the European Investment Fund (EIF), CDTI-Innvierte (Spain's national innovation agency), Institut Català de Finances (ICF), insurance companies, family offices, and a large cohort of entrepreneurs who have backed the firm since its inception.
Fund III deploys initial tickets between €250,000 and €2 million, targeting approximately 40 startups at the pre-seed and seed stages. The primary sector focus is on B2B SaaS, artificial intelligence, fintech, cybersecurity, developer tools, business services, and traveltech — areas where the fund sees the strongest combination of high addressable market and defensible software economics. Follow-on investments are reserved for companies demonstrating strong early performance. The fund continues 4Founders Capital's practice of backing founders across Spain and Europe, with a preference for companies with international sales ambition from day one.
Fund III launched in early 2025, completing a first close of €44 million in February 2025, before reaching its final close of €70 million — above its original €65 million target — within six months. The predecessor Fund I achieved a net IRR exceeding 18% and completed 11 exits, including Holded, Securitize, Flanks, and The Hotels Network. Fund II (2021, €50M) assembled a 38-company portfolio including Embat, Zenrows, Vidext, TaxDown, and Viterbit. Fund III positions 4Founders Capital as one of Spain's leading early-stage technology investors with a consistent and replicable fund model.