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 mother or father 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 significant 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 companion); 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 lately acquired by private equity in a multi-billion euro deal).
The fund leads or co-invests primarily in Collection A and pre-A funding rounds — although it notes it has flexibility to additionally make investments at seed stage. It sometimes cuts an preliminary verify of as much as €2M, with the capability to help portfolio corporations in follow-on rounds too.
Its funding thesis is targeted on b2c corporations, with a said 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.
By way of geography, AIV positions itself as a companion for worldwide VCs desirous to spend money on Spain and elsewhere — with a world deal with Europe and the Americas.
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).