The venture capital manager raises €155 million in two of its funds as it looks to continue investing in start-ups which might become the next European unicorns.
Barcelona, 25 January 2022. The Institut Català de Finances (ICF) has committed €3 million to Kibo Ventures Fund III which targets tech start-ups with high growth potential.
The fund manager today announced the closure of the fund’s last round with commitments from repeat investors alongside new institutional partners and leading firms and figures in Kibo Ventures’ existing investment portfolio.
This fund closes at the same time as the Kibo Ventures Opportunity Fund I. These two funds together have raised €155 million, bringing total assets under management to €300 million.
Kibo’s investment has included Catalan firms Gamestry, a video platform for gamers which already has more than four million active users and 2,000 content creators, and Belvo, a fintech firm delivering open finance services for financial industry businesses.
Javier Torremocha, co-founder and managing partner of Kibo Ventures, says that “closing these two funds is evidence of Kibo’s maturity and also recognition from the entire investment ecosystem.” Meanwhile, fellow co-founder and managing partner Aquilino Peña points out that “they will continue to back globally ambitious and disruptive projects with a firm commitment to technology and talent.”
The ICF’s assessment is also upbeat. “Kibo Ventures’ third fund invests in companies with high technological potential and the ability to grow abroad and this fully dovetails with some of the ICF’s strategic goals in terms of capital,” comments Irene Bertran, Venture Capital Fund Investment Director.
The ICF invests in venture capital as a strategic approach to nurture start-ups and also help existing companies to grow and thrive. The institution has investment commitments in over 55 capital instruments in the seed, venture and growth segments.
These funds bring Kibo Ventures’ total assets under management to €300 million coupled with a 10-year track record including five unicorns, firms with scalable projects and sales to successful businesses.
About the ICF
The Institut Català de Finances is Catalonia’s public financial institution. Its main mission is to foster funding for the business community in Catalonia in order to support the growth, innovation and sustainability of the Catalan economy. The ICF acts as a complement to the private sector by offering a wide range of financing solutions focusing on loans, guarantees and venture capital. Since 2014 it has been a member of the European Association of Public Banks (EAPB), which brings together most of the public banks and financial institutions operating in Europe.