Mission Fund I Launches €35M for Early-Stage Tech

A new venture capital entity, Mission, has officially launched its inaugural fund, Mission Fund I, targeting an ambitious €35 million. This initiative marks a significant evolution for the team behind Demium, leveraging over a decade of experience in nurturing and investing in nascent technology ventures. The fund is specifically designed to identify and back founders at the very inception of their entrepreneurial journey, with a keen eye on sectors ripe for disruption through AI and automation.

Mission Fund I plans to be a foundational investor for approximately 80 promising startups. The strategy involves initial investments averaging €250,000, with the potential to scale up to €2 million for exceptional portfolio companies. This approach positions Mission as a crucial early-stage partner, often serving as the very first institutional capital for these emerging businesses. The fund's focus aligns with the increasing sophistication of the European startup ecosystem, where founders seek experienced collaborators who understand the challenges of building from the ground up.

The management of Mission Fund I is spearheaded by Managing Partner Jorge Dobón, who brings extensive experience from Demium's previous operations. He is joined by a robust advisory team including Álvaro Callejo, formerly CEO of Ritmo; Julio Ribes, the founder of successful ventures like Swipcar and Holaglow; and Mario Navarro, founder of Triple. This collective expertise underscores the fund's commitment to providing strategic guidance alongside capital.

Mission's investment thesis is exemplified by its recent backing of companies such as Theker, a Barcelona-based innovator in industrial robotics and AI. Theker's substantial €21 million funding round last summer highlights the fund's preference for deep technology, tangible impact, and founding teams with global aspirations. This focus on reindustrialization through AI-driven solutions, as articulated by Dobón, reflects a broader European trend towards technological sovereignty and advanced manufacturing.

The fund has already commenced its deployment activities, securing its first investments. Its capital base is supported by a diverse group of limited partners, including seasoned founders and investors who have previously backed the team's endeavors. Furthermore, the fund benefits from the continued confidence of public institutions, notably the Official Credit Institute (ICO) and the Valencian Institute of Finance (IVF), both of whom are participating in this new venture.

This launch signifies the culmination of Demium's strategic pivot from an incubation model to a direct equity investment focus. Over its initial decade, Demium fostered innovation across more than 14 cities and 8 countries, contributing to the growth of notable companies like Citibox, Voicemod, Singularu, Landbot, and Swipcar. The establishment of Mission consolidates this expertise into a dedicated fund structure, ready to capitalize on the next wave of technological innovation, particularly in AI and automation, a sector projected for significant growth in the coming years.