Istria Capital
Istria Capital (legal name Istria Capital Partners SGEIC, S.A.) is a Madrid-based fund of search funds that describes itself as the leading such platform in Europe. Founded in 2016 by Simon Bores and Ignacio Olavarria, it backs entrepreneurs pursuing entrepreneurship-through-acquisition, providing capital and hands-on support to buy and grow small and mid-sized companies across Europe, the Americas and beyond. It manages two closed-end funds, Fund I (2018, EUR 20M) and Fund II (2024, EUR 50M), for about EUR 70M of assets, and has co-invested in more than 60 operating companies through over 190 backed searchers. It has no connection to Manuel Lao or the Cirsa gaming group.
Key facts
Recent exits
Coverage notes
1 fund tracked, 15 portfolio companies (4 active · 11 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
15 companiesFunds & portfolio
Every fund Istria Capital has raised, with its portfolio companies. Hand-checked from public filings.
Fund IBuyoutHarvesting2018 · 8yr€20M4 active · 11 realized
Unrealized
4 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software |  Portugal | 2022 | |
| Software |  United Kingdom | 2019 | |
| Software |  Spain | 2018 | |
| Cybersecurity | United Kingdom | 2024 |
Portugal· Entry 2022United Kingdom· Entry 2019Spain· Entry 2018United Kingdom· Entry 2024Realized
11 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Healthcare | Spain | 2021 | 2025 | Trade Sale | – | ||
| E-commerce | Spain | 2022 | 2024 | Secondary | – | ||
| Software | Portugal | 2020 | 2025 | Secondary | – | ||
| Software | Spain | 2020 | 2024 | Secondary | |||
| IT Services | Spain | 2019 | 2025 | Trade Sale | – | ||
| Software | Brazil | 2022 | 2025 | Trade Sale | – | ||
| Software | Spain | 2018 | 2025 | Trade Sale | – | ||
| Software | Poland | 2020 | 2026 | Trade Sale | – | ||
| Software | Poland | 2023 | 2025 | Secondary | – | ||
| Industrials |  France | 2020 | 2026 | Secondary | – | ||
| Business Services | United Kingdom | 2022 | 2025 | Secondary | – |
Saved GPs appear in your watchlist, one click from your workspace.
Similar firms
Other private equity firms tracked on GP Intel.
Get the full picture on Istria Capital.
Free. No credit card. 30 seconds. Exit buyers and MOIC on Pro.
Already a member? Sign in