Madrid/London venture capital firm Samaipata has announced the close of its second fund at an oversubscribed €107 million. The new capital is aimed at supporting approximately 30 European startups, with pre-seed and seed ticket sizes ranging between €500,000 to €3 million, and follow-on support topping out at €15 million. Now with €150 million in assets under management, Samaipata indicates that while they’re looking at pan-European investments, 30%-50% of the fund is dedicated to startups based in Spain.
From the new fund, Samaipata has already made investments in eight startups, three in Spain, three in France, one in the United Kingdom, and one in Germany, including e-commerce fulfilment management platform Big Blue, B2B payment provider Fintecture, and fashion industry-focused supply chain management tool Retraced.
While no details were provided on the backers of the new fund, Samaipata did state that, “65% of the capital has been subscribed by international institutional investors.”
“Thanks to this second fund, almost four times larger than the first, we have more capacity to continue supporting the best entrepreneurs in Europe and to be able to accompany them throughout the different stages of development of their project with up to €15 million per company. Spain continues to be a key market for Samaipata, and the market potential is enormous," commented founding partner José del Barrio.