Spanish firm Acurio Ventures to invest €150M in early-stage startups

Spanish investment firm Acurio Ventures, formerly named All Iron Ventures, today announced €150 million in investment commitments for its new investment vehicle, Acurio Ventures III. 

The €150 million will be used primarily for investments in early-stage European startups (mainly Seed and Series A)  with a generalist sector approach, with the firm continuing to act primarily as a co-investor. This results in a highly diversified portfolio of around 50 companies, equity stakes of between three and ten per cent, as well as greater flexibility to access companies, manage follow-on investment reserves and undertake divestments. 

Ander Michelena, founder and partner of Acurio Ventures, shared:

"We are very grateful for the trust placed in us by investors, both those who have supported us in the past and new ones.

There is no better recognition of our track record over the last six years than to have their backing, particularly at this delicate time in the market with respect to fundraising.” 

The first vehicle has already returned its initial capital and its IRR is above 40 percent, while the second is comfortably in the top quartile. As was the norm in the past, the new fund has an alignment between managers and investors that is well above the market average. This is now reflected in investment commitments by the management company’s team of more than €25 million. 

With this new vehicle, Acurio Ventures now has close to €300 million in assets under management. This new fund is a significant milestone in its vision and aspiration to become a leading European VC manager. 

Acurio Ventures previously had three investment vehicles (two for direct investment in startups and one for investment in European VC funds). To date, it has invested in more than 90 companies (around 60 per cent of them international, mainly European), including Seedtag, Jobandtalent, Indexa Capital, Lingokids, Preply, Refurbed, and Lookiero, as well as in around 15 European VC funds. 

Lead image: Acurio Ventures. Photo: uncredited.