Unveiling the Latest in European Tech: Acurio Ventures Closes $166 Million Fund
In the ever-evolving European tech ecosystem, Spain and Portugal are making waves with a flurry of new startups and funding rounds. Barcelona-based Plus Partners kicks off with a $30-$50 million fund, while Yellow introduces a €30 million VC firm. Not to be outdone, Spanish VC Kfund secures $75 million in funding.
But the spotlight today shines on All Iron Ventures, now rebranded as Acurio Ventures. This dynamic firm is closing its third fund at an impressive $166 million (€150 million), exclusively focusing on 'follow-on' investments.
Under its previous name, All Iron Ventures had already made its mark by backing successful European tech startups like Seedtag, Jobandtalent, and more. Co-founded by Ander Michelena, who previously sold his startup Ticketbis to eBay, Acurio Ventures is set to continue its winning streak.
With LPs including prestigious entities like a U.S. university endowment and pension funds, Acurio Ventures is already making waves with 20 investments under its belt. The fund operates with a broad investment thesis across Europe, managing assets worth around €300 million.
Michelena's strategic approach involves taking equity stakes between 3% and 10%, allowing for greater flexibility and quicker divestments. Acurio Ventures is poised to capitalize on the market's upswing and accelerate growth in the tech sector.
By maintaining a portfolio of 50 companies per fund, Acurio Ventures sets itself apart from traditional VCs. This unique model enables early distributions and a more agile approach to investments.
With a dedicated team spread across key locations, Acurio Ventures draws inspiration from Basque heritage for its new identity. The firm's vision is rooted in the spirit of exploration and innovation exemplified by Juan de Acurio, a sailor from the historic Magellan and Elcano expedition.
In a recent report, Spanish startups surpassed €100 billion in enterprise value, solidifying Spain's position as a tech powerhouse. The country's ecosystem ranks fourth in Europe, attracting significant venture investments and paving the way for continued growth.
As the financial landscape evolves, Acurio Ventures stands at the forefront of innovation, driving the European tech scene towards a brighter future. With a bold vision and strategic investments, Acurio Ventures is reshaping the tech industry and offering lucrative opportunities for investors worldwide.