Spain’s All Iron Ventures closes €66.5M first fund

By | November 6, 2020

Spain’s All Iron Ventures (AIV), an investor in b2c marketplaces and ecommerce performs, has closed its first fund with commitments totalling €66.5 million (~$79M) — which it touts as one of many largest first fund raises within the nation. 

Capital dedicated to the fund by its father or mother Group’s founding companions and different traders brings its whole funding capability to round €110M. 

Backing for the fund has come from personal traders, with no public help sought. AIV aligns itself with what it dubs a “new breed” of entrepreneur-backed VCs rising in Europe — which incorporates having its personal incubation program.

The Bilbao headquartered fund has been working since late 2017, run by co-directors Hugo Fernández-Mardomingo and Diego Recondo. It’s a part of the All Iron Group — which features a listed actual property holding firm and was based by the Ticketbis founders who offered their ticket reselling market to eBay in 2016 for more than 165M; a serious exit success story for the Spanish ecosystem.

Amongst some 150 traders in AIV’s fund I are native entrepreneurs corresponding to Iñaki Ecenarro (who can be a associate); Salvador García, co-founder and CEO of fintech startup ebury; and Jose Poza, founding father of Ibercom which later merged with MasMóvil (which was itself not too long ago acquired by private equity in a multi-billion euro deal).

The fund leads or co-invests primarily in Sequence A and pre-A funding rounds — although it notes it has flexibility to additionally make investments at seed stage. It sometimes cuts an preliminary examine of as much as €2M, with the capability to help portfolio firms in follow-on rounds too.

Its funding thesis is targeted on b2c firms, with a acknowledged choice for marketplaces, subscription and e-commerce fashions. “Capital effectivity and clear path to profitability play a major half in AIV’s funding choices,” it provides in a press launch.

When it comes to geography, AIV positions itself as a associate for worldwide VCs eager to put money into Spain and elsewhere — with a world concentrate on Europe and the Americas.

Latest investments embrace Ukraine-based on-line tutoring market Preply and Spanish on-demand laundry service Mr Jeff.

Different portfolio startups embrace Lookiero, Lingokids, Spotahome and Seedtag (from Spain) — in addition to Barkyn (Portugal), Refurbed (Austria), Paul Camper (Germany). Kodit (Finland), Rebag (US) and Zenklub (Brazil).

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