K Fund is officially outing its fund II today, which sits at EUR70 million,< a href="

https://techcrunch.com/2016/10/16/k-fund/”> up from EUR50 million the first time around. The remit stays the exact same, however: targeting Spanish start-ups with a global outlook, the seed-stage firm prepares to invest from EUR200,000 to EUR2 million, writing first checks in 25-30 business. A portion of the fund will likewise be set aside for follow-on funding for the most promising of its portfolio.

“We’re business model and sector agnostic, and we currently have a healthy mix of B2B and B2C companies across a wide variety of sectors, including travel, fintech, insurtech and others,” states < a class="crunchbase-link"href="https://crunchbase.com/organization/kfund"target="_blank”

data-type=”organization”data-entity=”kfund”> K Fund. Following in the footsteps of Europe’s Heartcore Capital, K Fund is launching a pre-seed financing program, too. Called” K Creators, “it will look forout companies that are less than 6 months old, and invest approximately EUR100,000 pre-seed. The program will initially be rather modest in size, targeting in between 10 and 20 startups.”We won’t take board seats in these business and we will not have preferential rights. We’ll utilize convertible notes to accelerate the procedure and we have a commitment of taking no more than three weeks from very first conference to deposit, “explains K Fund’s Jaime Novoa.”Since we likewise believe in structure bridges with other co-investors(funds and business angels

), we’ll be very delighted to share handle co-investors to reach the capital required by the business.”K Fund’s very first fund portfolio consists of online travel firm Exoticca (which states that in 2019

more than 35,000 individuals from 6 different countries took a trip to 50 destinations utilizing its platform), HR software application Factorial(which has more than 60,000 customers in 40 various nations and just raised a$16 million Series A round from CRV ), insurtech start-up Bdeo, and conversational messaging tech provider Hubtype.”We continue to be incredibly bullish on the Spanish startup ecosystem and Southern Europe in general, with markets such as Portugal or Italy that our company believe are punching above their

weight,”includes the VC firm. “We’ve already purchased 4 Spanish startups with the brand-new fund; all of them are pursuing substantial markets, and have actually experienced experts in their founding team “. One of those is sales prospecting platform Bloobirds. The others will be divulged in the coming weeks. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.