Venture Capital Firms in Spain

4Founders Capital is a Barcelona-based venture capital firm focused on supporting early-stage technology startups, primarily in Southern Europe. Founded by a group of successful entrepreneurs, the firm brings not only capital but also hands-on experience in building and scaling companies. Its mission is to be a founder-friendly investor that adds real value beyond financial support. The firm seeks to partner with ambitious founders who are creating scalable, tech-enabled solutions. It typically invests in pre-seed to Series A rounds, working closely with startups to help them reach product-market fit and accelerate growth. With a lean, decisive team and a strong network of co-investors, 4Founders Capital aims to streamline the fundraising process for startups and provide strategic guidance. 4Founders Capital has a particular interest in SaaS, marketplaces, and mobile-first business models. The firm focuses its investments geographically in Southern Europe, particularly Spain and Portugal, while remaining open to broader European opportunities. With a growing portfolio of innovative companies, 4Founders is establishing itself as a key player in the early-stage tech ecosystem in the region.

a16z speedrun is an intensive 12-week accelerator program launched by Andreessen Horowitz in 2023, designed to support early-stage founders globally. The program invests up to $1 million in new startups, primarily at the pre-seed and seed stages, with a focus on helping them achieve product-market fit rapidly. It provides direct investment, extensive fundraising support, and connections to a vast network of external investors.The program was established in 2023 by Andreessen Horowitz, a prominent American venture capital firm founded by Marc Andreessen and Ben Horowitz in 2009. Initially, a16z speedrun focused on pre-seed gaming startups, drawing its name from the gaming term "speedrunning" to reflect its emphasis on rapid development. The firm later expanded its scope to encompass a broader range of technology and entertainment startups, including those in AI and creative industries, while maintaining its core ethos of fostering innovation and accelerating growth.Since its inception, a16z speedrun has rapidly scaled, deploying over $180 million to fund more than 150 startups. Notable portfolio companies mentioned include Sekai, Fundamental Research Labs, and k-ID, all of whom have lauded the program's impact on their growth, from securing talent and early design partners to strategic guidance and successful fundraising rounds. The program culminates in a Demo Day, where founders present to a large audience of investors.The a16z speedrun program offers comprehensive coaching and mentorship, including 1:1 sessions with industry leaders and the a16z speedrun team. Key individuals involved include Jon Lai, an integral part of the speedrun team, and Andreessen Horowitz partners like Joshua Lu and Andrew Chen, who provide strategic guidance and mentorship. The program also leverages the broader expertise and network of Andreessen Horowitz, with founders Marc Andreessen and Ben Horowitz participating as speakers and mentors, offering unparalleled access to seasoned operators and a vast ecosystem of resources.

AltamarCAM Partners is an independent, partner-led private asset manager founded in 2004 and headquartered in Madrid, Spain. The firm specializes in providing institutional investors—including insurance companies, pension funds, and financial institutions—as well as high-net-worth individuals, with access to global alternative investments across private equity, venture capital, life sciences, real assets (real estate and infrastructure), and private debt/credit. Their investment strategies encompass primaries, secondaries, and co-investments, tailored to meet diverse client needs. With over €20.8 billion in assets under management, AltamarCAM operates through a network of specialized entities, including Altamar Private Equity, Altan Capital, and Altamar Advisory Partners. These subsidiaries enable the firm to offer a comprehensive suite of services, from fund management to independent financial advisory and merchant banking. The firm's global presence includes offices in Madrid, Barcelona, Munich, Cologne, London, New York, and Santiago de Chile, supported by a team of more than 350 professionals. AltamarCAM is committed to delivering long-term value through a disciplined investment approach and a strong focus on environmental, social, and governance (ESG) principles. Their diversified portfolio and strategic partnerships, such as the recent collaboration with Mirabaud to launch an evergreen semi-liquid private equity strategy, underscore their dedication to innovation and client-centric solutions in the private markets.

Arcano Partners, founded in 2003, is an independent international financial advisory and alternative asset management firm headquartered in Madrid, Spain. It operates across four core business lines: Investment Banking, Asset Management (including Private Equity, Credit, Real Estate, Sustainable Infrastructure, Venture Capital, and Aviation Finance), Asset Finance, and Research & Strategic Advisory. The firm is recognized for its Merchant-Banking model and emphasis on sustainable, responsible investing. With over €12 billion in assets under management and advisory since inception, Arcano’s Asset Management arm focuses on primary, secondary, and co-investment opportunities in mid-market private funds and companies in Europe and the U.S. The firm has more than 250 professionals supporting more than 400 funds and 3,000 underlying companies. It is also a signatory to the UN PRI, reflecting its ESG commitment. Arcano is structured around a partnership model with offices in major European and U.S. financial hubs. Its approach combines high-level M&A advisory, specialist credit & asset financing, macroeconomic research, and tailor-made private markets solutions. The firm also ranks among the top 10 global managers in private equity secondaries, according to the HEC Paris–Dow Jones ranking.

Asabys Partners is a Barcelona-based venture capital firm focused on investing in highly innovative companies within the healthcare and life sciences sectors. Founded in 2018, Asabys aims to support disruptive technologies and transformational therapies by backing entrepreneurs developing novel solutions in biotech, medtech, diagnostics, and digital health. The firm leverages deep sectoral expertise and a strong scientific network to identify and nurture promising startups from early to growth stages.The firm’s investment philosophy emphasizes value creation through active involvement. Asabys works closely with portfolio companies by providing strategic guidance, operational support, and access to a global network of industry experts and partners. Its team is composed of experienced investors, healthcare professionals, and scientists, enabling a multidisciplinary approach to sourcing and scaling impactful innovations.With a geographic focus on Europe and Israel, Asabys seeks companies with global potential and strong IP positions. Backed by prominent institutional investors, the firm manages the Sabadell Asabys Health Innovation Fund and continues to expand its presence in the European venture ecosystem. Asabys is committed to contributing to the advancement of healthcare by supporting the next generation of medical breakthroughs.

Aser Capital is a Spanish family office founded in 2008 and based in Madrid, Spain. The firm invests across multiple stages including seed, early-stage, and later-stage companies, with a primary focus on consumer products, consumer services, and information technology sectors.Aser Capital takes a diversified approach to investing, supporting entrepreneurial ventures and growth companies in Spain and across Europe. The family office has made notable investments in companies such as Washrocks, a services platform, and Textura Interiors, a home furnishings company, reflecting its interest in consumer-facing businesses and innovative service models.

AT Capital Group is a prominent family office headquartered in Singapore, specializing in actively managed businesses and passive financial investments. The firm distinguishes itself from traditional private equity models by deploying its own funds, which grants it full autonomy over investment choices and durations. AT Capital Group focuses on creating value for all stakeholders by investing in sustainable businesses and taking an active role in their strategic management, leveraging its domain knowledge and global networks to help companies achieve their full potential.The firm was founded by Mr. Arvind Tiku, whose family trust is the sole owner of AT Capital Group. Mr. Tiku is an experienced entrepreneur and investor with a background in building international businesses across various sectors. While the exact founding year of the broader family office is not explicitly stated on its website, the legal entity, AT Capital Pte. Ltd., was established in 2011. The group maintains a significant global presence with over 400 employees and offices in India, Singapore, Dubai, and the Netherlands.AT Capital Group's investment strategy targets both public market securities, including debt, equity, metals, and other liquid assets, and strategic mid- to long-term investments. Its primary focus areas include Real Estate, Renewable Energy, Private & Structured Credit, and Public Markets. The firm also actively evaluates venture capital opportunities in high-potential startups and promising young companies, with recent portfolio additions such as BlueStone, Frendy, and ObvioHealth. Their real estate portfolio spans various geographies, including India, Europe, and the US, encompassing green-field development projects, commercial and retail assets, and supermarkets. Notable European real estate investments include projects in Amsterdam, Rijswijk, Haarlem, Paris, and Warsaw.The team at AT Capital Group comprises experienced professionals with diverse backgrounds in investment and finance. Key individuals include Arvind Tiku as Founder and Group Chairman, Sanjay Bakliwal as Director with extensive experience in real estate, financial services, and renewable energy, and Hywel Phillip as General Counsel. The firm is committed to ethical business practices, robust corporate governance, and environmental and social responsibility, aligning its ESG principles with the United Nations-backed framework for Principles for Responsible Investment.

Aurorial is the corporate venture capital arm of PCComponentes, one of Spain’s leading online electronics retailers. Created to identify and invest in early-stage startups aligned with the strategic vision of PCComponentes, Aurorial focuses on innovation within e-commerce, logistics, supply chain optimization, and digital consumer experiences. The fund is part of the company's broader effort to foster entrepreneurship and technological advancement within its ecosystem. With a focus on collaboration, Aurorial not only provides funding but also strategic value by offering startups access to PCComponentes' expertise, distribution channels, and user base. It typically invests in seed and Series A rounds, targeting scalable technology solutions that can enhance operational efficiency, customer experience, or the broader value chain in e-commerce and retail. Aurorial acts as both an investor and a strategic partner, encouraging open innovation and long-term synergy. Aurorial primarily invests in startups based in Spain and Southern Europe but remains open to opportunities across Europe that present strong alignment with its core focus. As a forward-looking venture arm, it plays a key role in PCComponentes' mission to remain at the forefront of retail tech innovation while supporting the broader entrepreneurial ecosystem.

Axon Partners Group is a global investment and consulting firm that focuses on technology and innovation. The firm operates with a dual approach, offering both investment management and strategic consulting services. They partner with visionary leaders to drive innovation and create value in the technology sector, while their consulting arm provides insights and expertise for strategic, commercial, policy, and investment decisions. Axon Partners Group emphasizes effective strategies and investments to leverage innovative technologies for a better world.Founded in 2006 by Francisco Velázquez, Axon Capital and SVP Advisors initially operated as two separate entities in Madrid. Axon Capital focused on tech transfer venture capital, aiming to extract value from university technologies in Spain, and secured its first tech transfer VC fund in July 2007. SVP Advisors, on the other hand, extended Velázquez's consulting experience internationally. In 2012, Axon Capital and SVP Advisors merged to form Axon Partners Group, expanding their team and global reach. The firm successfully completed an IPO and was listed on the Madrid Stock Exchange, raising approximately €12 million.Axon Partners Group has a diverse portfolio with investments in various technology-driven companies. Recent investments include Dynamics VR, ISAAC (Construction and Engineering), and Grodi (Agriculture). The firm has also invested in companies like Taalentfy, a technology platform for employability and career guidance, and Odders, an XR company specializing in virtual reality games and applications. Other notable investments include Metricool, Instaleap, and W•SENSE. Axon Partners Group has also made 43 exits, with its latest being from Dogfy Diet in October 2025.The firm's team comprises over 100 seasoned professionals across its Consulting and Investment divisions, with diverse backgrounds and nationalities. This international team combines multi-sector tech expertise with a proven investment and advisory track record, aiming to deliver the agility of a boutique firm with the capabilities of a global company. Key management includes Francisco Velázquez as Chairman and Managing Partner, and Alfonso de León and Dimitri Kallinis as Managing Partners and Board Members.

Bewater Funds is a Spain-based investment firm providing liquidity to shareholders of private, high-growth technology companies. The firm operates an innovative investment model that enables investors to acquire minority stakes in private companies via specialized vehicles, offering a solution to the illiquidity problem faced by early investors, founders, and employees. Targeting Spanish and European startups with proven revenues and solid business models, Bewater Funds focuses on profitable or near-profitable tech companies seeking flexible capital solutions. Their approach allows investors to gain exposure to venture-scale businesses while giving existing shareholders the ability to partially exit without a full company sale or IPO. With a strong emphasis on transparency, governance, and digital efficiency, Bewater Funds utilizes a regulated and tech-enabled platform to structure its investments. The firm brings together professional investors and growing tech companies, bridging the gap between venture capital and private equity in the European innovation ecosystem.

Black Fountain Capital is a family office headquartered in Geneva, Switzerland, with additional hubs in Barcelona, Dubai, and London. The firm operates as a venture capital investor, guided by instinct and driven by possibility, focusing on the infusion of smart capital into ambitious and resilient founders. They aim to be catalysts for transformation, empowering founders to achieve new heights and unlock the full potential of their ventures. Black Fountain Capital prides itself on being business model-oriented and industry-agnostic, allowing for flexibility and adaptability across diverse sectors globally.The firm was founded in 2017, building upon over 20 years of experience in the investment and advisory industry held by its multidisciplinary team. This team comprises entrepreneurs, consultants, investors, operators, dreamers, and doers who collaborate to identify common patterns of success across various industries. Their mission extends beyond mere investment, positioning them as steadfast partners who support visionary founders from the pre-seed or seed stage through every phase of building great companies.Black Fountain Capital's portfolio showcases a diverse range of investments. Notable companies include The Onsider Barcelona, which offers serviced apartments epitomizing modern living; Urbanic London, a fashion industry innovator prioritizing honesty, quality, and innovation; and Velocity Black, a platform that leverages human expertise and cutting-edge technology to enable members to lead extraordinary lives. These investments reflect the firm's broad industry focus and commitment to backing visionary enterprises.The team at Black Fountain Capital brings extensive experience, having successfully grown multiple companies from early-stage startups to market leaders and navigated numerous turnaround cases. Their complementary and collaborative approach ensures comprehensive support for portfolio companies. With a global presence, Black Fountain Capital actively participates in the growth of diverse industries and economies worldwide, leveraging their international hubs to foster innovation and success.

History: Founded in 1996 as GED Capital in Madrid, the firm rebranded in 2023 to Buenavista Equity Partners. Over 27 years it has pioneered private equity in Spain and expanded into infrastructure and venture capital strategies. The rebranding reflects a new visual identity while continuing GED’s legacy in the Spanish lower mid-market.Investment Focus: Buenavista is a multi-asset manager with three main verticals: (1) Private Equity – majority or significant minority investments in Spanish SMEs (often family-owned) via buy-and-build strategies; (2) Real Assets / Infrastructure – funds targeting smaller greenfield and brownfield infrastructure projects (€10–40m deal size, e.g. renewable energy, transportation); and (3) Ventures – early-stage venture capital funds in Spain and Portugal focusing on seed and Series A startups (especially in tech and innovation).AUM & Track Record: The firm manages approximately €1 billion in assets across its various funds. It has completed over 400 investments historically, with numerous successful exits. Recent activity includes launching a specialized Aerospace & Defense fund and continuing to invest through its existing Iberia-focused buyout funds and venture vehicles. Buenavista’s team and network provide deep expertise in value creation and sector-specific growth strategies.Organization & Offices: Based in Madrid (Montalbán 7) and active across Spain and Portugal, Buenavista Equity Partners has a highly qualified team of professionals and an extensive advisor network. The firm emphasizes robust governance and ESG in its management of portfolio companies, aiming to generate attractive risk-adjusted returns alongside long-term sustainable value for both investors and society.

Capital Cell is a prominent European equity crowdfunding platform dedicated to fostering innovation within the biotechnology and life sciences sectors. The firm specializes in connecting early-stage companies with a diverse network of private investors, aiming to democratize access to high-impact and high-return investment opportunities in human health. They meticulously vet potential investments, with only 3% of applicant companies making it to their platform, ensuring a focus on promising ventures.Founded in Barcelona, Spain, in 2015 by Daniel Oliver, Capital Cell emerged from the city's vibrant scientific ecosystem. The firm's mission is to drive global innovation in health and biotechnology by enabling individuals and specialized funds to contribute to groundbreaking scientific research. This approach not only seeks financial returns but also emphasizes making a significant societal impact through advancements in healthcare.Capital Cell's portfolio showcases a range of innovative companies, including METHYS Dx, which focuses on real-time cancer patient monitoring; Oragen, developing oral RNA technology for inflammatory bowel diseases; and AbTx, working on advanced anti-cancer treatments. Other notable investments span areas like gene delivery (EVIS Bioscience), bone reconstruction (Kervalion), rehabilitation through VR and AI (DynamicsVR), stroke treatment (FreeOx), early Multiple Sclerosis diagnosis (ALA Diagnostics), cell and gene therapy (Alaya.bio), and ALS treatment (AXOLTIS Pharma).The firm boasts a robust team and an extensive BioExpert Network comprising over 3,500 scientists, doctors, and investment experts. Key team members include Daniel Oliver (Founder and Director), Julien Gillet-Daubin (Director, France), Heidi Rohwer (BioExpert Network Coordinator), and Judith Benoit (Investment Manager), among others. This multidisciplinary expertise underpins their rigorous due diligence process, which includes in-depth analysis of business plans, financial reviews, patent assessments, and regulatory strategies, ensuring that investments are thoroughly evaluated and supported post-investment.

Cartera de Inversiones C.M. S.A. is a family office and holding company established in 1988 by Joaquín Molins. The firm's primary objective is to consolidate and manage the Molins family's assets, focusing on wealth preservation and its development across future generations. Their investment strategy emphasizes achieving reasonable returns while maintaining a controlled level of risk through diversified asset management.The firm's investment activities span several key areas, including financial assets within capital markets, venture capital investments, and business acquisitions. Additionally, Cartera de Inversiones C.M. engages in real estate investments to a lesser extent. Historically, a significant portion of their portfolio has been dedicated to their participation in Cementos Molins S.A., reflecting their commitment to maintaining family control and contributing to the company's good governance.While specific details on their portfolio companies are not extensively publicized, the firm has been noted for investments in companies such as Bebitus (e-commerce) and Talent Clue. Cartera de Inversiones C.M. also participates in co-investments alongside other investment entities, including IDÚN, BStartup10, Inveready, and various business angel networks like IESE-Red de Business Angels and ESADE BAN.The firm operates with a lean team, supported by collaborators and the broader Molins family. Their corporate values underscore excellence, adaptability, transparency, respect for family reputation, long-term commitment, and business ethics. Cartera de Inversiones C.M. also demonstrates a commitment to Corporate Social Responsibility, contributing to socio-economic, environmental, and socio-cultural initiatives, and supporting patronage activities through the Fundación Joaquim Molins Figueras.

Clave Capital, founded circa 2002 and headquartered in Pamplona, Spain, is a venture capital and tech‑transfer investment firm with 20+ years of experience and over 90 investments across industrial SMEs, healthtech, energy, agri‑food and biotech sectors. The firm manages the **Clave Innohealth Fund** (≈€50 M first close, targeting €80 M) focused on early-stage health innovation—eHealth, medtech, biotech, nutrition—backed by CDTI/Innviierte and private investors. Typical checks range from €500K to €1M with follow-ons up to €3 M. Clave operates from its Pamplona headquarters and maintains a regional Valencia office. With a tight-knit team (~20 professionals), Clave combines financial investment with operational involvement, partnering closely with founders and university research centers to scale innovation-driven SMEs.

Cluster Family Office is a multi-family office based in Spain, specializing in comprehensive wealth management and financial advisory services for high-net-worth individuals, entrepreneurial families, celebrities, athletes, and those who have acquired significant fortunes. The firm offers a holistic approach to managing and growing client assets, encompassing financial consulting, asset management, real estate investment, private equity investment, accounting, financial planning, banking, and corporate management services. They aim to provide tailored solutions that align with each family's unique circumstances and long-term objectives, ensuring transparency and optimizing financial and tax structures.The firm was established in December 2007 by Javier Mariana, who brought over 25 years of experience in family wealth management. His motivation stemmed from the need to create a company that could address all the asset-related challenges his own family had faced over two decades. Cluster Family Office prides itself on being one of the first independent firms in Spain to offer such comprehensive family office services, emphasizing unbiased and objective advice.Cluster Family Office's services extend beyond traditional financial management to include specialized advice for athletes and artists, as well as guidance for families interested in their children studying at universities in the United States. They also provide consulting for creating and supporting other family offices, offering expertise in legal, tax, and human resources matters. The firm operates as an Authorized Officer of Banco Alcalá, enabling them to offer a full range of investment services.The multidisciplinary team at Cluster Family Office includes experienced professionals such as Javier Mariana and Gian Paolo Amato as Managing Partners, Àngels Descamps as Partner and General Counsel, and other specialists in areas like back office, business planning, financial valuation, M&A, corporate governance, and human resources. Gian Paolo Amato, for instance, has a background as a Financial Advisor in Global Wealth Management at Merrill Lynch USA, bringing international experience to the firm's advisory capabilities.

DIG Investment is an international private investment group established in 2011, originating from a private family office. The firm focuses on backing transformative, future-shaping companies across private markets, providing both growth and transitional capital. They are dedicated to supporting category-defining businesses that address pressing global challenges and redefine industries, with a particular interest in strong secular growth markets and disruptive innovations. The firm emphasizes embedding sustainability and responsible growth into every business they support.Founded by a private family office in 2011, DIG Investment initially served a select global network of family offices. Over more than a decade, the firm has evolved into a leading investment platform for the global family office community, leveraging its reputation and extensive industry relationships to access exclusive investment opportunities. Their vision is to deliver consistent, sustainable long-term returns by partnering with generational businesses at the forefront of their sectors.The investment strategy of DIG Investment spans the full company lifecycle, from early-stage innovators to global scale-ups, with a primary focus on growth. They typically acquire non-controlling minority stakes and act as transitional capital providers, with an average holding period of approximately five years. The firm employs a "Land and Expand" strategy, beginning with an initial small investment and deploying follow-on capital as companies demonstrate strong performance and achieve milestones. Notable portfolio companies include unicorns like OYO and Ola.DIG Investment operates as a Scandinavian firm with a significant international presence, maintaining main offices in Sweden and Denmark, and partnership offices across Europe, North America, and Asia. The firm invests alongside reputable family offices, experienced operators, and capital providers globally, aiming for a target net IRR of +25% and having invested $1 billion in capital. They boast a network of 300 active investors and a 5% co-invest ratio, highlighting their collaborative approach to investment.

Draper B1 is a seed and early-stage venture capital firm founded in 2010 and headquartered in Valencia, Spain. The firm specializes in investing in B2B and B2B2C startups, focusing on ambitious entrepreneurs who aim to create significant global impact. Draper B1 emphasizes a hands-on approach, actively managing its portfolio and providing growth support beyond capital.The firm powers and shapes innovation primarily from Spain but with a global scaling vision. Draper B1 invests across various sectors including software, marketplaces, artificial intelligence, blockchain, healthtech, fintech, and frontier technologies such as space tech. It leverages a strong global network of investors, industry experts, and mentors to help startups scale internationally.With over 70 investments and more than 200 companies supported over the past decade, Draper B1 has a proven track record of successful exits and continuous fund growth. The team includes experienced professionals such as Founding Partner Enrique Penichet and Managing Partner Raquel Bernal, who prioritize people and value creation over transactions. Draper B1 also launched a €30 million fund targeting frontier technologies, reinforcing its commitment to cutting-edge innovation.

Founded in 2016, Energize Capital is a Chicago-based venture capital firm specializing in climate software investments. The firm focuses on asset-light, digitally enabled companies that drive the transition to a decarbonized and digitized energy economy. With a team of experienced investors and operators, Energize Capital partners with entrepreneurs to scale sustainable innovations that address critical challenges in energy, mobility, and infrastructure. Energize Capital's investment strategy encompasses both venture capital and growth equity, supporting companies from early commercialization stages through to public markets. The firm has invested in over 26 climate software companies, including notable startups like Tyba, Nira, and Archive. By providing not only financial capital but also operational and strategic support, Energize Capital aims to accelerate the growth and impact of its portfolio companies. As of 2025, Energize Capital manages assets exceeding $1.8 billion, underscoring its commitment to scaling sustainable innovation. The firm's global investor base includes institutional, strategic, impact, and family office investors from North America and Europe. Through its dedicated platform, Energize EDGE, the firm offers comprehensive portfolio services to help companies navigate the complexities of the energy transition.

This early-stage venture capital firm is committed to backing ambitious founders across Spain, with a unique focus on startups emerging from regions beyond Madrid and Barcelona. As a sector-agnostic investor, the fund supports innovative, scalable companies across a wide range of industries—from digital platforms and consumer products to deep tech and sustainability-driven ventures. The firm’s mission is to democratize access to venture capital across the country. Believing that talent is evenly distributed but opportunity is not, the fund actively seeks out promising startups in underserved regions such as Valencia, Bilbao, Málaga, Galicia, and beyond. It offers not only capital but strategic guidance, mentoring, and a strong national network of partners and co-investors to help early-stage companies grow. The fund typically invests in pre-seed and seed rounds, with follow-on capacity for the best-performing portfolio companies. Based in Spain, the investment team brings together experience in entrepreneurship, finance, and regional development. They are passionate about fostering inclusive growth and reducing geographic funding gaps in the Spanish startup ecosystem. By championing regional founders, the firm aims to unlock untapped innovation and drive broader economic impact across the country.