‘We’re both agnostic in terms of business models and industries’
time around. Targeting Spanish startups with a worldwide outlook, the seed-stage firm prepares to invest from EUR200,000 to EUR2 million, writing very first checks in 25-30 companies. Meanwhile, a portion of the fund will likewise be set aside for follow-on funding for the most appealing of its portfolio.
Referred to as business model- and sector-agnostic, < a class="crunchbase-link"href="https://crunchbase.com/organization/kfund"target="_ blank"data-type="organization" data-entity =”kfund”> K Fund presently has a mix of B2B and B2C business in its portfolio throughout a wide array of sectors, such as travel, fintech, insurtech and others. They consist of online travel agency Exoticca, HR software application Factorial, insurtech start-up Bdeo and Hubtype, a conversational messaging tech supplier.
I overtook K Fund’s Jaime Novoa to dig deeper into the firm’s investment remit, how the Spanish startup and tech ecosystem has developed over the last couple of years and to read more about “K Founders,” the VC’s brand-new pre-seed financing program.
TechCrunch: K Fund’s very first fund was announced in late 2016 to back start-ups in Spain with a worldwide outlook at seed and Series A. At EUR70 million, this 2nd fund is EUR20 million larger but I collect the remit remains broadly the exact same. Can you be more specific with concerns to cheque size, geography, sector and the types of start-ups you search for?
Jaime Novoa: We’re both agnostic in regards to company designs and markets. Since our focus is, for the many part, Spain, we do not think that the Spanish market is huge enough to build a vertically focused fund, either in terms of organisation design or sector.
With our very first fund we invested in 28 companies, with a slightly larger variety of B2B SaaS business than B2C ones, and across a wide range of sectors. We do have a little exposure to fintech/insurtech and take a trip, but that’s due to the fact that we’ve discovered several intriguing business in those areas, not since we proactively stated, “let’s invest in fintech/travel.”
In regards to check sizes, the core of the fund will be to make the same type of investments as in our very first fund: first cheques from EUR200k to EUR2m and then adequate capital for follow-on rounds. We’ll most likely do a comparable number of offers compared to the previous fund, but we want to have extra capital for follow-on purposes.
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.
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