Madrid, Spain-based venture capital firm Kibo Ventures has announced the first closing of its second fund, with commitments up to €71 million. The firm says its 'Fund II' is still open to new investors, up to a maximum capacity of €100 million.
Kibo's new fund will operate under a new management company, Kibo Ventures Partners, and the company is bringing on some new people to make and manage investments.
Sonia Fernandez (formerly 3i, Prisa, MercadoLibre, Match.com and Vindico) is joining as an investment partner, while Valeria Loewe (formerly at Najeti Capital) will be Kibo's Director of Operations and Business.
With this new fund, Kibo Ventures will manage in excess of €115 million and will expand its investment scope to finance not only the early stages of digital companies started by Spanish entrepreneurs, but also their eventual follow-on rounds.
Investors in the new fund include the European Investment Fund (of course), Telefonica Open Future SLU, Innvierte Economía Sostenible, Fond-ICO, Criteria Venture Capital (La Caixa), pension funds and a number of family offices and tech investors.
Kibo Ventures' portfolio includes the likes of Carto (formerly CartoDB), Redbooth, JobandTalent, Omnidrone and Minube. They just sold one of their investments, Trip4real, to Airbnb.