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  • Writer's pictureKelly Alica Liman

Top 22 VC Funds and Angel Investors in Spain

Spain's entrepreneurial and innovation ecosystem is at its peak. With roughly 8,000 active startups, the Spanish ecosystem continues to develop and cement its position as one of the most significant in Europe. With big international ambitions, startups in the country have been attracting record amounts of capital and creating household names in the worldwide scene. Madrid and Barcelona are already established, appealing startup centers, with many smaller towns and cities following suit and promoting startup activity to draw investor interest. In this article, we have compiled a comprehensive list of VC Funds and Angel Investors in Spain that may be the right partner for your growth in this exciting burgeoning market.






VCs and Angel investors in Spain
VCs and Angel investors in Spain

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Why Should You Raise Funds in Spain?


Spain is an attractive destination for startups looking to raise funds for several reasons:


  1. Access to capital: Spain has a well-developed venture capital industry that provides startups with wide access to funding. The total investment in Spanish startups reached a record high in 2021, achieving over EUR 2.1 billion. Despite the overall slump in the global investment climate in 2022, five Spanish companies have successfully gained unicorn status, namely Paack (EUR 225k), Fever (EUR 200M), Typeform (EUR 123M) and Factorial (EUR 123M), which join the exclusive club of companies valued at more than EUR 1 Billion: Jobandtalent, Idealista, Glovo, Cabify, Devo, Flywire, Wallbox, eDreams, and Travelperk. This highlights the strong appeal and keen interest in Spain's entrepreneurial ecosystem despite the current global context.

  2. Supportive startup ecosystem: Spain's ecosystem is highly supportive for startups, thanks to a combination of factors such as government support, availability of startup programs, and even the numerous amount of coworking spaces. The new Startups Law that was passed in 2022 provides a substantial package of support, including tax breaks for investors, labor incentives to attract talent, new digital nomad visas to attract international workers, and many other measures to minimize the time and cost of starting up in Spain. Support from both the public and private sectors is apparent in the number of startup incubators and accelerators in Spain that provide guidance, assistance, and sometimes capital to entrepreneurs. Spain also ranks second in Europe in the number of coworking spaces, suggesting that the entrepreneurial ecosystem in the country is in full swing and welcoming entrepreneurship and innovation.

  3. Highly educated and specialized talent: Spain is home to internationally renowned universities, with four Spanish business schools ranking among Europe's top 20 producing a significantly skilled workforce. Spain is also among the countries with the fastest increase in professional developers, showcased with a year-on-year growth rate of 15.1%. The country has also showcased a significant ability to attract foreign talent, placing third as a destination for European tech talent and fifth for international tech talent. In regards to wages, local talent remains more affordable and competitive compared to other European countries as well as the United States.





Venture Capitalist Funds in Spain


The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.



  • Year of Inception: 2017

  • Stage: Pre Seed, Seed

  • Focus: Marketplaces

  • Notable Portfolio: Pathway, Kitch, Arise, Mindgram, Metagravity, Arise

  • Contact


With offices in Poland, Spain, and Luxembourg, Market One Capital is an early-stage venture capital fund that strengthens network effects platforms across Europe. They specialize in the marketplaces / digital platforms and SaaS sectors, with a team that has developed and expanded three web platforms and invested in over 60 early-stage software firms.



  • Year of Inception: 2019

  • Stage: Pre Seed, Seed, Series A

  • Focus: HealthTech

  • Notable Portfolio: Quanthealth, Medasystems, Zetta Genomics, Ultromics, Leuko

  • Contact


Based out of Barcelona, Nina Capital is a venture capital firm investing exclusively in the intersection of healthcare and technology. Since their founding, they have invested in over 37 health-tech companies spread across 17 countries. They invest in both healthcare tools (technologies that assist healthcare organizations in improving their efficiency and operations) and medical equipment (solutions intended for use in the diagnosis, cure, mitigation, prevention, or treatment of a disease).







  • Year of Inception: 2017

  • Stage: Pre Seed, Seed, Series A, Series B, Series C

  • Focus: Technology

  • Notable Portfolio: Holded, Mailtrack, StockAgile, Glovo, Embat

  • Contact


Made up of a team of serial entrepreneurs, 4Founders Capital invests in founders with disruptive projects aiming to build something big. With their extensive experience and operational expertise as successful tech company founders and C-suite executives, along with their extensive network in the industry, they understand and assist founders in creating value in their firms.



  • Year of Inception: 2004

  • Stage: Seed, Series A

  • Focus: B2B SaaS Solutions, Enterprise Tech, DeepTech Applications

  • Notable Portfolio: Stockagile, Mindflow, nhost, Gophr, Airfocus, Scytl

  • Contact


With EUR 550 million in assets under management, Nauta Capital is one of Europe's largest B2B-focused venture capital firms. Nauta Capital invests in capital-efficient innovators who are reimagining major sectors through technological solutions that solve the difficulties faced by major companies.





  • Year of Inception: 2012

  • Stage: Seed, Series A

  • Focus: Consumer and Enterprise Software

  • Notable Portfolio: Blink, DefinedAI, Clarity AI, Flywire, Gotrade, Pandago

  • Contact


Spread across Madrid, Barcelona, and Lisbon, Kibo Ventures is one of the largest venture capital firms in Southern Europe. They have launched 4 funds to date, with EUR 300 million in assets under management, and a portfolio of over 63 companies which include 1 IPO and 5 unicorns. Kibo Ventures aim to empower outliers who are solving great challenges and helping them expand globally.



  • Year of Inception: 2019

  • Stage: Seed, Series A

  • Focus: Life Sciences

  • Notable Portfolio: Versantis, Sanifit, Minoryx Therapeutics, Gyala Therapeutics, Arthex Biotech

  • Contact


Invivo Capital is a venture capital firm that invests in early-stage healthcare startups; committed to advancing outstanding science in cutting-edge sectors that will shape the future of medicine. Made up of a team with extensive scientific, technological, and financial knowledge, as well as a network of connections and crucial strategic ties in the healthcare sector, their experience and understanding in the Technology Transfer domain provide them with the capacity to become one of Europe's key players in Technology Transfer.





  • Year of Inception: 2013

  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: Apartum, Traity, Paypro, tripUniq, Restb.ai

  • Contact


Based in Barcelona, Lanta Digital Ventures is an early-stage venture capital firm that invests in innovative Spanish and European startups. As a competitive edge, they approach early-stage financing with a hands-on, team-oriented strategy; providing support and their operating experience to help entrepreneurs transform their ideas into successful companies. As past startup founders, board members, and senior executives, they have the cumulative knowledge and a wide network of advisers, subject matter experts, and business leaders to help you develop a successful firm.



  • Year of Inception: 1989

  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: -

  • Contact


Seed Capital Bizkaia is the investment management entity attached to the Department of Economic Promotion of the Provincial Council of Bizkaia, dedicated to the administration and management of various financing instruments. Founded in 1989, they have been active in fostering innovation, social impact, and the promotion and regeneration of the business fabric in Bizkaia. They operate a number of funds for the promotion of business initiatives with an innovative vocation across various stages.




  • Year of Inception: 2018

  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: Heyteam, Ironhack, Microverse, Rebag, Seedtag

  • Contact


All Iron Ventures invests in early-stage European firms that are using technology to transform the future for both consumers and businesses. Established by entrepreneurs who have founded successful startups themselves, they understand the obstacles that founders face and what it takes to build a successful business. As such, they provide their resources and experience in building, expanding, and selling businesses to assist their portfolio firms in taking their ventures to the next level.


  • Year of Inception: 2002

  • Stage: Seed, Series A

  • Focus: Technology

  • Notable Portfolio: Barnebys, Fishbrain, Traity, Ticketbis, Odilo

  • Contact


Active Venture Partners is a VC firm dedicated to disrupting traditional industries. They target entrepreneurial teams driving digital startups and provide the support that goes beyond capital for high-growth businesses. They will provide portfolio firms with access to advisors and mentors that can assist founders in maximizing growth through the various stages.





  • Year of Inception: 2009

  • Stage: Seed, Series A

  • Focus: Technology

  • Notable Portfolio: Flywire, Jobandtalent, Odilo, Atani, Haddock, Yaba

  • Contact


JME Ventures make early-stage investments in breakthrough firms that leverage technology to grow rapidly in foreign waters. As venture capitalists, they have skin in the game. They will accompany you throughout your startup development, assisting you in anticipating challenges, making decisions, and developing a scalable business.



  • Year of Inception: 2013

  • Stage: Seed, Series A, Series B

  • Focus: Technology

  • Notable Portfolio: Glovo, Cabify, Alma, Wallbox, Clarity AI, Kuona, Coverfy

  • Contact


Seava Ventures is a multi-sector fund that invests in mission-driven European digital innovators and extraordinary entrepreneurs who are establishing leading IT firms. They collaborate with founders to improve their strategic vision and provide them with a worldwide platform to accelerate their growth.





  • Year of Inception: 2005

  • Stage: Seed, Series A, Series B, Series C

  • Focus: B2B, Cybersecurity, Data and Applications, Infrastructure, Devops, Components, Digital Health

  • Notable Portfolio: Seedtag, Scalefast, AlienVault, Constella, Playgiga

  • Contact


Adara Ventures invests in best-in-class entrepreneurs and early-stage firms that are tackling issues in contemporary enterprises with innovative solutions. When they collaborate with startups, they provide access to the whole Adara team and their extended network that will allow founders to accelerate each step of growth.



  • Year of Inception: 2012

  • Stage: Seed, Series A, Series B, Series C

  • Focus: EdTech, PropTech, Business Software, Mobility, Tech-enabled Consumer, FinTech, HealthTech

  • Notable Portfolio: Rapyd, Delivery Hero, Flink, Copper, Reef, Cazoo, DemoDesk

  • Contact


Target Global is a pan-European tech-focused VC firm that manages over EUR3 billion in assets. Target Global is committed to empowering growth by investing in revolutionary technology at all stages of the lifecycle. They assist extraordinary entrepreneurs in establishing leading firms that target trillion-dollar industries and support the boldest and bravest entrepreneurs in making a positive impact on the world.





  • Year of Inception: 1999

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Internet

  • Notable Portfolio: From the Bench, Glovo, Gigas, Salupro, Paack, Bodas.net

  • Contact


Bonsai Venture Capital invests in domestic online firms with a strong focus on mobile and global aspirations. They prioritize mobile businesses in classifieds, e-health, gaming, payments, security, travel, and other high-growth industries.



  • Year of Inception: 2018

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Life Sciences

  • Notable Portfolio: SpliceBio, MedLumics, Deepull, CaraCare, Koa Health

  • Contact


Based in Barcelona, Asabys is a venture capital firm that invests in healthcare and life sciences innovation that poses disruptive solutions to health challenges. They strive to push the limits of science and medicine in order to improve the lives of patients through fostering discoveries in healthcare.





  • Year of Inception: 2008

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Life Sciences, Biotech

  • Notable Portfolio: Adcendo, AELIX Therapeutics, CVRx, MedLumics, Sanifit

  • Contact


Ysios Capital is a science-driven venture capital firm with the goal of fostering medical discoveries. They invest in startups that address significant unmet medical needs and produce transformational medicines to benefit patients and society. Since their inception, they have funded 17 medical products from lab to market, with currently over 50 medical products at the clinical stage for serious diseases.



Samaipata Ventures

  • Year of Inception: 2016

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology

  • Notable Portfolio: Fintecture, Retraced, DeporVillage, Matera, Legl

  • Contact


"If you dare to be bold. To think differently. To better the world. We’ll back you", that is the slogan of Samaipata Ventures. They are a venture capital firm that invests in digital platforms with network effects. They champion thinking differently to achieve breakthrough innovations and change the world.





  • Year of Inception: 2015

  • Stage: Series A, Series B, Series C

  • Focus: InsurTech, FinTech, DeepTech, ClimateTech, HealthTech, RetailTech

  • Notable Portfolio: RubiconMD, Hokodo, Geoblink, Consentio, Citibox, Sherpa.ai

  • Contact


Mundi Ventures is a venture capital firm that invests in early to growth-stage tech firms, with the long-term purpose of assisting individuals, businesses, and society in managing an increasingly risky environment using technology. They are particularly interested in insurtech/insurance-adjacent technology, fintech, corporate technology, and innovative enterprises founded by (or servicing) the worldwide Spanish-speaking diaspora.



  • Year of Inception: 2007

  • Stage: Seed, Series A

  • Focus: Life Sciences, Industrial Technology, Information Technologies

  • Notable Portfolio: Aelix Therapeutics, Codee, GlyCardial Diagnostics, Glovo

  • Contact


Caixa Capital Risc is the venture capital arm of CriteriaCaixa, an investment holding company in Spain. They invest in innovative firms at the startup and growth stages, currently managing over EUR 200 million via 9 specialized vehicles. They have completed over 250 investments, some of which have been successfully acquired by blue-chip companies.





Angel Investors in Spain


The Angel investors listed below are part of an Angel community located throughout Spain. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.


  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: -

  • Contact


AEBAN is the Spanish Association of Business Angel Networks that carry out direct private investment activity in the initial stages. As a network, they provide startups with a space to publish their project that requires a seed investment and collaborate in the promotion and exchange of investment projects.



  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: Panapop, Discocil, Ekuore, Boatjump, Flywire

  • Contact


BIGBAN, founded in 2007 as a private and independent entity, is an association committed to the private investment ecosystem in startups. The association brings together more than 130 business angels and connects startups with smart capital. Since their establishment, they have channeled over 55 million in investments and funded over 300 startups.





Closing Thoughts on VCs and Angel Investors in Spain


Spain's startup ecosystem is young yet vibrant. Increased startup involvement, high investment activity, and a solid cohort of scaleups growing competitively in domestic and foreign markets are testaments to the burgeoning scene in Spain. A distinguishing element of the Spanish ecosystem among its European counterparts is the presence of two major hubs, Barcelona and Madrid, among a vast amount of towns and regions that are also building up their rapport, such as Valencia, Bilbao, and Malaga, to name a few. Today, Spain is growing as a desirable location with promising prospects for individuals seeking to innovate and build disruptive businesses.


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