Spanish VC Kibo Ventures hits €80 million first close for new fund…

Team S · 2025-12-23T14:01:17.000Z

Spanish venture capital firm Kibo Ventures has successfully secured a first closing of €80 million for its fourth fund, with a target to raise up to €150 million as it expands its investment strategy beyond Spain to support startups across Europe. The fund is aimed at backing early-stage companies—particularly in defence, space, AI, cybersecurity and other deeptech sectors—by leading Seed and Series A rounds and backing founders building globally scalable businesses. The first close attracted commitments from a diverse group of limited partners and strategic backers, including BBVA Spark, the corporate venture arm of Spanish banking group BBVA; the founding family of Mahou, Spain’s largest beer brewery; the family office of CVC Capital Partners’ managing partner Javier de Jaime; and José de Mello Capital, the investment arm of the Portuguese family-owned conglomerate José de Mello Group. Institutional supporters also participating in the round include CDTI Innvierte, the Spanish public innovation investment programme aimed at fostering early-stage technology companies, and the European Investment Fund (EIF), which invests in VC funds to catalyse private market activity across Europe. Additionally, several founders from Kibo Ventures’ existing portfolio contributed to the fund, reflecting confidence from entrepreneurs who have previously worked with the firm. Kibo has already deployed capital from the new fund in early rounds, including a €3.3 million seed investment in AnyFormat, a generative AI platform that converts complex documents into machine-readable formats, and a $21 million seed round in Theker, a robotics company building autonomous industrial robots. The firm’s expanded fund will enable it to lead more conviction rounds across Europe and reserve significant capital—around 40 %—for follow-on investments in high-potential portfolio companies. #venturecapital #fundraising #KiboVentures #VCfund #Europe #BBVASpark #Mahou #CVCfamilyoffice #JoséDeMelloCapital #CDTIInnvierte #EIF #AnyFormat #Theker #deeptech

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Spanish VC Kibo Ventures hits €80 million first close for new fund… | Newnex