EA Ventures has announced a new €20M fund in partnership with Plug and Play

EA Ventures, the venture capital arm of Kazakhstan’s EA Group Holding, has announced a new €20M fund in partnership with Plug and Play.

The fund, based in Madrid, aims to provide backing to early-stage startups across Europe, with a particular focus on AI, enterprise solutions, fintech, sustainability, mobility and e-commerce.

 Plug and Play's EMEA Fund aims to make seed investments, with tickets ranging from €200,000 to €500,000. The fund is expected to support 30–35 startups.

Yerik Aubakirov, CEO of EA Group Holding, explained the strategic importance of Spain in this initiative:

“Spain is entering a new wave of tech entrepreneurship, and we see an opportunity to bring a fresh perspective rooted in global connectivity and agile capital. This partnership enables us to tap into Europe’s deep talent pool while helping founders think and grow beyond borders.”

Launched officially on March 3, 2025, the fund offers portfolio companies more than just financial support. In addition to capital, companies will gain access to expert mentorship and the global network of corporations, investors, and advisors associated with Plug and Play. 

Seena Amidi, Managing Partner EMEA at Plug and Play Tech Center, discussed the fund’s broader objectives: “We believe in the immense potential of the Spanish territory and aim to provide both financial and strategic support. Our goal is to connect the best founders with international hubs, enhancing their global reach and agility.”

Spain has seen significant growth in its early-stage startup ecosystem over the last few years. The country is home to a rapidly expanding network of tech entrepreneurs and investors, with Madrid, Barcelona, and Valencia emerging as key hubs for innovation and venture capital activity. Early-stage funding in Spain has traditionally been more challenging to secure compared to other European countries, but recent trends indicate a positive shift.

Plug and Play’s model focuses on corporate innovation and startup acceleration. It runs various industry-specific programs that support startups throughout their growth journey, from early-stage development to scaling. The platform also manages over $1 billion in assets across its funds and has an extensive portfolio that includes successful companies such as Dropbox, PayPal, Guardant Health, Honey, N26, Rappi, and Turing.