Top 15 Spanish Investors to Watch in 2024 A look at the investors and the sectors they invest in.

The Spanish entrepreneurial ecosystem has shown resilience in recent years, despite global economic challenges. According to Bankinter's report, startups raised €2.33 billion in 382 deals in 2023. Although startup investment experienced a considerable decline during the first quarter of 2024 (€551.1 million), the number of Spanish startups has grown, especially those linked to artificial intelligence.

Even with these challenges, Spanish startups continue to attract investors worldwide. Latin America has increased its investments in the country, building bridges and strengthening the connection between regions. Likewise, as startups continue to drive innovation and growth, local investors play a crucial role in the development of the ecosystem.

In this article, we explore Spanish investors who are worthy of attention this year, helping startups and entrepreneurs grow.

José del Barrio, Founder and Managing Partner at Samaipata

José del Barrio is the Founding Partner at Samaipata, an early-stage founders' fund investing in digital businesses with network effects across Europe. Samaipata was founded José and Eduardo Díez-Hochleitner in 2016.

Previously, Barrio co-founded La Nevera Roja, Spain's leading food-delivery platform, which sold to Rocket Internet for $100 million in 2015. He has also worked at PWC and Accenture in Strategy and M&A Advisory. Barrio led a hospital expansion project in Latin America, where he encountered the Samaipata valley in Bolivia, inspiring the firm's name due to its diversity and teamwork values.

Samaipata Investment focus: Samaipata invests in early-stage digital businesses with network effects. To date, it has backed 38 European companies through two investment funds, managing over €150 million in assets.

Sectors Samaipata invests: Agnostic, yet theme-driven.

Karel Escobar, co-founder of Back Fund

Karel Escobar is the co-founder of Back Fund and a passionate investor in early-stage startups. He co-founded Back Fund with Adrian Gorrixto in 2021 to be a leading early-stage investment vehicle in Spain. Back Fund invests up to 50.000€ in startups, providing mentorship and guidance through its community of 50 Backers.

Previously, he worked at Campus Madrid, Google's space for entrepreneurs, and played an active role in Spain's startup community through Startupxplore. With experience as CEO of Tetuan Valley, he has a wide background in business development across different countries and institutions

Currently investing in six startups, he also mentors in various entrepreneurship programs and speaks at top Business Schools in Spain about innovation and entrepreneurship.

Back Fund Investment focus: Pre-seed, early stage. full-time entrepreneurs with a functional prototype.

Sectors Back Fund invests: Enterprise tech, energy transition, industry 4.0

Aristotelis Xenofontos, Partner at Seaya Ventures

Aristotelis Xenofontos, Partner at Seaya Ventures, Xenofontos is a partner at Seaya and co-leads the Ventures fund. His 10-year investment activity has been focused on B2B Tech-first and Deeptech companies. Before Seaya, Xenofontos was a Tech investor in two multinational corporations, Santander and Thomson Reuters.

Xenofontos is a tech geek at heart and an operator-turned-investor. Before becoming an investor, he co-founded a data-driven tech business and worked in technology and product roles in startups and large tech companies. His studies include a BSc in Mathematics, an MSc in Information Systems, an MBA, and a PGDip in Machine Learning.

Seaya Investment Focus: Seaya Ventures focuses on investing in exceptional founders building leading technology companies with a sustainable approach. Its investment scope spans multiple sectors, with particular emphasis on European tech companies through Seaya Ventures, sustainability-focused initiatives via Seaya Andromeda, and startups transforming industries in Latin America through Seaya Cathay Latam. It aims to accelerate growth by enhancing strategic visions and providing international platforms for these companies.

Sectors Seaya has invested in this year: Applied AI, tech enablers, and automation.

Laura González-Estéfani, CEO and Founder of TheVentureCity

Laura González-Estéfani is the CEO and Founder of TheVentureCity, a global early-stage venture fund focused on making the entrepreneurial ecosystem more diverse, cross-border, and fairly funded.

Since founding TheVentureCity in 2017, González-Estéfani has invested in more than 100 companies internationally in seed & Series A. TheVentureCity has campuses in Miami and Madrid, as well as offices in San Francisco and Sao Paulo.

TheVentureCity Investment Focus: TheVentureCity offers investment tickets ranging from $100,000 to $500,000 for Pre-seed and Seed stages, and $1 million to $4 million for Series A companies. The firm seeks promising founders with a product-driven mindset and a passion for building. It particularly values those who have a deep appreciation for data.

Sectors TheVentureCity invests: TheVenturyCity is generalist, but index high on fintech, healthTech, AI/ML/Data, and B2B SaaS.

Lourdes Álvarez de Toledo, Partner at JME Ventures

Lourdes Álvarez de Toledo,a Partner at JME Ventures, has more than 12 years of experience in the private equity industry. She studied Law and Economics at the University Carlos III of Madrid and the University of Leuven in Belgium.

In 2016 she co-created the management company JME Ventures, of which she is a partner. Her role is to participate in the investment, negotiation, management, and divestment process of JME's portfolio companies.

She been a board member of more than 15 companies such as Taxdown, Kampaoh, Reveni, Amphora, Kymatio, Declarando, Aplanet, and Redbooth, among others.

JME Ventures Investment focus: It manages four venture capital funds with approximately €150M of assets under management. It has invested in more than 60 startups, having sold 12 of them. JME has a special interest in sectors with high technological disruption such as cybersecurity, aerospace, semiconductors, communication technologies, robotics, artificial intelligence, quantum computing, edge computing, productivity software, etc.

Sectors JME has invested in this year: Virtual reality applied to the defense sector, robotics applied to the waste management sector, productivity software for developers, artificial intelligence applied to sales productivity as well as to the wealth management sector, edge computing, banking sector, and infrastructure for web3.

Enrique Penichet García, Founding Partner at Draper B1

Enrique Penichet García is the Founding Partner of Draper B1. With more than 15 years of investment experience, he began his career as an entrepreneur and business angel, founding the first startup accelerator in Spain, Business Booster. García transitioned from startup acceleration to Venture Capital investment, launching three funds and making hundreds of investments. With a degree in Architecture, García specialized in an Executive MBA at IESE Business School, in addition to being an Advisor to the Draper Venture Network and a Member of the Google Launchpad Program.

Draper B1 Investment focus: Seed stage B2B Saas with AI and/or Blockchain mainly in Spain.

Sectors: Fintech: Cyber security, future of work, space tech.

Javier de Toro Velazquez, VC at Angels Capital

Javier de Toro Velázquez is the Investment Manager at Angels Capital. He has a degree in Business Administration and a master's degree in Data Analytics from EDEM with a scholarship from the Persán Foundation. He has worked as a portfolio manager at Lanzadera helping more than 100 startups in its investment rounds. In 2020 he participated in the creation of the Angels Investment Forum and is currently an investment manager at Angels Capital. In 2023 he published a book "Rondas de Inversión" (Investment Rounds) to help entrepreneurs prepare their first investment rounds.

Angels Capital Investment Focus: Angels is the investment company of Marina de Empresas, promoted by the businessman Juan Roig. Angels invest in leading entrepreneurs who come from the Lanzadera accelerator.

Sectors Angel Capital invests: Proptech, health, and SaaS B2B in different verticals (industry, fitness, construction, export, architectural design, hospitality, real estate, agriculture, etc.).

Edgar Vicente, Founding Partner at Enzo Ventures

Edgar Vicente is the founder of Enzo Ventures, a venture capital firm. Before co-founding Enzo Ventures, Vicente was an early employee and investor at Glovo and successfully launched and sold his first technology company, DiHola. His incursion into the venture capital industry was highlighted by the establishment of Enzo Ventures together with UK-based PROfounders Capital. Under his leadership, Enzo Ventures quickly made its mark by launching a €15 million fund, distinguishing themselves as the youngest-ever fund managers in Spain.

Enzo Ventures Investment Focus: Early-stage VC fund focused on partnering with the latest generation of founders.

Sectors Enzo Venture invests: Agnostic, always in technology.

Manuel Nieto Arias, Co-Founder & General Partner at First Drop VC

Manuel Nieto Arias, Co-Founder and General Partner at First Drop VC, is both an entrepreneur and investor focused on solving global challenges like poverty and social mobility through scalable technological companies.

For more than 10 years, Arias has worked in international cooperations in LATAM until he realized that the only way to finish poverty is by creating successful companies that benefit the world. His mission is to demonstrate that impact companies are at least as profitable as traditional venture capitalist companies.

First Drop Investment Focus: Impact investment fund in pre-seed stage investing tickets between 50k to 200K and with follow-up to 1M. Agnostic in terms of sector and business model.

Sectors First Drop has invested in this year: During 2024, it has invested in mobility, water, agriculture, circular economy, and industry 4.0.

Jesús Tapia, Head of Impact Accelerator

Jesus Tapia is the Head of Impact Accelerator, a distinguished accelerator created by ISDI and part of Digitalent Group. Known for its rigorous and decentralized approach, Impact Accelerator provides startups with premier mentorship and vital access to venture capital funding.

IMPACT has accelerated more than 150 startups, and distributed 45M euros in funding. Currently, IMPACT is offering Spanish startups an opportunity to participate in Acelera Startups, a venture acceleration program supported by Spain's School of Industrial Organization (Escuela de Organización Industrial – EOI) and funded by the European Union's Next Generation fund.

Its accelerator program is free and available to startups based in Madrid and Catalunya, as well as companies across Spain that are innovating in the telecommunications and mobility field. IMPACT boasts a proven track record of organizing successful startup programs for prominent organizations such as UNICEF, the European Commission, Toyota, and more.

Gonzalo Tradacete Gallart, Managing Partner and CIO at Faraday Venture Partners

Gonzalo Tradacete Gallart, Managing Partner and CIO at Faraday Venture Partners. He holds key roles as Managing Partner and Investment Director at Faraday Venture Capital, SGEIC, the management company of Faraday Venture Partners, for the Faraday Europe I, FCRE and Faraday Europe II, FCR funds, as well as for the Faraday Private Investors Club.

Gallart holds a Chartered Financial Analyst accreditation, a Master's degree in Entrepreneurship from the Universidad Politécnica de Madrid, an MSc in International Finance from the University of Westminster, and a Bachelor's degree in Economics from the Université Libre de Bruxelles.

Faraday Ventures Investment Focus: It specializes in early-stage tech startups, boasting Spain's largest Private Investors Club in venture capital. It offers co-investment opportunities and diversified fund options, including the recognized Faraday Europa I, FCRE, and the upcoming Faraday Europa II, FCR, with a minimum investment of €25,000.

It invests €300,000 to €1 million in startups with six to nine months of commercial history, supporting them for five to 10 years and up to €5 million in follow-up rounds. The firm has a strong track record of exits and high client satisfaction.

Sectors Faraday has invested in this year: Faraday seeks to achieve strategic exposure in different sectors, trends, technologies, and geographies. During this year, it has companies focused on telecommunications, industry 4.0, textile technology, and artificial intelligence, among others, have already joined its portfolio.

Kfund

Kfund is a multi-stage, multi-product family of funds that supports entrepreneurs in Southern Europe and Latin America, from pre-seed to Series B stage.

Investment focus: Its focus is on enabling technologies (disruptive technologies packaged in platforms that help customers themselves to create more and better business).

Sectors Kfund has invested in this year: It has seen an increase in investments related to AI, but it is not the only sector in which we are present: health tech, productivity tools, SaaS vertical, or insurtech are other sectors in which it has invested so far this year.

Inés Calabuig is the Managing Partner at GoHub Ventures

Inés Calabuig is the Managing Partner at GoHub Ventures, a dynamic VC firm nestled in the heart of Valencia that invests in B2B SaaS startups armed with disruptive technology and groundbreaking solutions.

Calabuig's journey has been a global adventure, weaving through different countries around the world. This international experience has not only broadened her horizons but has also fueled her passion for driving change. She firmly believes in the potent mix of entrepreneurship and technology as a force for transformative impact.

In the vibrant world of venture capital, Calabuig's focus is squarely on supporting startups with innovative B2B software solutions. It's not just about investments, it's about catalyzing a new era where technology meets entrepreneurship to create meaningful change.

Investment focus: GoHub Ventures invests in founders with highly technological B2B software solutions from Seed to Series A, with tickets from €1M to €4M, all across Europe, North America, and LatAm.

Sectors they invest: AI/ML and data, digital health, fintech and insurtech, agtech and climate tech, telecom and 5G, metaverse and web3.

Joan Pina Ollé, Parnet at Abac Nest Ventures

Joan Pina Ollé is a Partner at Abac Nest Ventures, a Spanish venture capital firm investing in early-stage technology-based startups. Ollé has more than 10 years of experience in the tech industry as a founder of several startups and an investor in early-stage companies. He is a strong supporter of venture capital as one of the main drivers for the growth of the entrepreneurial ecosystem in Spain.

Before his tenure at Abac, Ollé founded four digital companies and served as the owner and CEO of Let's Bonus, which was sold to an Amazon subsidiary. His professional experience also includes working at PwC in New York, Dublin, and Barcelona.

In addition to his professional achievements, Ollé is an avid sports enthusiast who has completed several long-distance triathlons and other endurance races, which he believes closely mirror the journey of entrepreneurship.

Abac Nest Ventures Investment Focus: Abac Nest is a venture capital fund managed by Abac Capital. It invests in pre-seed and seed tech-based companies with tickets from €100k to €500k and follow-ons up to €1.5m. Abac Nest focuses on ambitious and outstanding teams building truly differentiated products in large, growing, and addressable markets.

Sectors Abac has invested in this year: Abac Nest invests in SaaS B2B startups in various verticals, like generative AI, DigitalHelth, FinTech, DeepTech, and ConsumerTech all of which enable and accelerate the digital and technological transformation of SMEs in Europe.

Jorge Dobón Montagut, Founder & Managing Partner at Demium

Jorge Dobón Montagut is the founder and managing partner of Demium, a startup incubator and a Talent VC based in Spain. He established Demium in 2013 with the mission to identify and develop entrepreneurial talent, investing in individuals and helping them create successful startups from scratch.

With over a decade of history, Demium has evolved into a dynamic force within the startup ecosystem, boasting a vast network of over 250 entrepreneurs within its portfolio.

Demium investment focus: It specializes in identifying and fostering talent at every stage of the entrepreneurial journey, from pre-team and pre-idea to pre-seed and seed startups. Its investment ranges from €100K to €500K, with the flexibility of follow-on funding for subsequent rounds with a fund size of €35M.

Sectors: Disruptive innovation and scalable growth across a diverse range of sectors.