K Fund
K Fund (Kfund) is a Madrid-based venture capital firm founded in 2016 by Inaki Arrola, Carina Szpilka and Ian Noel to back early-stage technology startups across Southern Europe and Latin America, writing first cheques from roughly 100k to 10m euros from pre-seed to Series B. Its flagship holding is HR unicorn Factorial, and it also manages Leadwind, a growth-stage deep-tech fund launched with Telefonica, alongside early-stage vehicles K Fund I, K Fund II and K3.
AUM
€500M
Funds
4
vintages 2016–2024
Portfolio
60
Exits
7
Key facts
Recent exits
Coverage notes
4 funds tracked, 67 portfolio companies (60 active · 7 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
67 companiesFintech
10 · 15%
AI/ML
7 · 10%
SaaS
7 · 10%
HealthTech
6 · 9%
InsurTech
5 · 7%
Consumer
5 · 7%
HR Tech
4 · 6%
PropTech
3 · 4%
Funds & portfolio
Every fund K Fund has raised, with its portfolio companies. Hand-checked from public filings.
4 funds
K3VC2024 · 2yr€70M17 active
Unrealized
17 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AI/ML |  Spain | 2025 | |
| AI/ML | Spain | 2024 | |
| AI/ML | Spain | 2025 | |
| LegalTech | Spain | 2024 | |
| InsurTech | Spain | 2026 | |
| Fintech | Spain | 2023 | |
| Fintech | Spain | 2025 | |
| Fintech | Spain | 2025 | |
| AI/ML | Spain | 2025 | |
| SaaS | Spain | 2024 | |
| HR Tech |  Italy | 2024 | |
| Fintech | Spain | 2025 | |
| ClimateTech | Spain | 2025 | |
| AI/ML | Spain | 2025 | |
| AI/ML | Spain | 2026 | |
| PropTech | Spain | 2023 | |
| Deep Tech | Spain | 2024 |
2501Active
AI/MLSpain· Entry 2025
Spain· Entry 2025AliniaActive
AI/MLSpain· Entry 2024
Spain· Entry 2024CalaActive
AI/MLSpain· Entry 2025
Spain· Entry 2025CiceraiActive
LegalTechSpain· Entry 2024
Spain· Entry 2024CoverwatchActive
InsurTechSpain· Entry 2026
Spain· Entry 2026CrescentaActive
FintechSpain· Entry 2023
Spain· Entry 2023EmblematicActive
FintechSpain· Entry 2025
Spain· Entry 2025FrekuentActive
FintechSpain· Entry 2025
Spain· Entry 2025HeydigaActive
AI/MLSpain· Entry 2025
Spain· Entry 2025RemunerActive
SaaSSpain· Entry 2024
Spain· Entry 2024SkillvueActive
HR TechItaly· Entry 2024
Italy· Entry 2024TealActive
FintechSpain· Entry 2025
Spain· Entry 2025TetherActive
ClimateTechSpain· Entry 2025
Spain· Entry 2025ThekerActive
AI/MLSpain· Entry 2025
Spain· Entry 2025TrazaActive
AI/MLSpain· Entry 2026
Spain· Entry 2026TrebellarActive
PropTechSpain· Entry 2023
Spain· Entry 2023XRFActive
Deep TechSpain· Entry 2024
Spain· Entry 2024LeadwindGrowth2021 · 5yr€250M3 active
K Fund IIVCHarvesting2019 · 7yr€70M31 active · 2 realized
Unrealized
31 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| SaaS | Spain | 2021 | |
| PropTech | Spain | 2024 | |
| SaaS | Spain | 2025 | |
| Fintech | Spain | 2024 | |
| ClimateTech | Spain | 2021 | |
| SaaS | Spain | 2017 | |
| InsurTech | Spain | 2026 | |
| Consumer | Spain | 2020 | |
| HealthTech | Spain | 2026 | |
| DevTools | Spain | 2020 | |
| Consumer | Spain | 2022 | |
| HealthTech | Spain | 2021 | |
| SaaS | Spain | 2021 | |
| Energy | Spain | 2025 | |
| Consumer |  United Kingdom | 2018 | |
| HR Tech |  United States | 2021 | |
| Fintech | Spain | 2021 | |
| Fintech | Spain | 2025 | |
| HealthTech | Spain | 2025 | |
| E-commerce | Spain | 2021 | |
| FoodTech | Spain | 2021 | |
| Logistics | Spain | 2022 | |
| HealthTech | Spain | 2020 | |
| TMT | Spain | 2022 | |
| HR Tech | Spain | 2025 | |
| E-commerce | Spain | 2018 | |
| InsurTech | Mexico | 2024 | |
| Gaming | Spain | 2022 | |
| SaaS |  Germany | 2022 | |
| Data & Analytics | Spain | 2022 | |
| PropTech | Spain | 2018 |
AbacumActive
SaaSSpain· Entry 2021
Spain· Entry 2021AldaraActive
PropTechSpain· Entry 2024
Spain· Entry 2024AmenitizActive
SaaSSpain· Entry 2025
Spain· Entry 2025BanktrackActive
FintechSpain· Entry 2024
Spain· Entry 2024BcomeActive
ClimateTechSpain· Entry 2021
Spain· Entry 2021BEONxActive
SaaSSpain· Entry 2017
Spain· Entry 2017BlissActive
InsurTechSpain· Entry 2026
Spain· Entry 2026BobActive
ConsumerSpain· Entry 2020
Spain· Entry 2020Circle HealthActive
HealthTechSpain· Entry 2026
Spain· Entry 2026CodeeActive
DevToolsSpain· Entry 2020
Spain· Entry 2020DersuActive
ConsumerSpain· Entry 2022
Spain· Entry 2022DurcalActive
HealthTechSpain· Entry 2021
Spain· Entry 2021EeselActive
SaaSSpain· Entry 2021
Spain· Entry 2021EvoltioActive
EnergySpain· Entry 2025
Spain· Entry 2025FerlyActive
ConsumerUnited Kingdom· Entry 2018
United Kingdom· Entry 2018FetcherActive
HR TechUnited States· Entry 2021
United States· Entry 2021FuellActive
FintechSpain· Entry 2021
Spain· Entry 2021GoPassActive
FintechSpain· Entry 2025
Spain· Entry 2025HiloActive
HealthTechSpain· Entry 2025
Spain· Entry 2025If ReturnsActive
E-commerceSpain· Entry 2021
Spain· Entry 2021KatooActive
FoodTechSpain· Entry 2021
Spain· Entry 2021KosmoActive
LogisticsSpain· Entry 2022
Spain· Entry 2022Rosita LongevityActive
HealthTechSpain· Entry 2020
Spain· Entry 2020RungieActive
TMTSpain· Entry 2022
Spain· Entry 2022ShakersActive
HR TechSpain· Entry 2025
Spain· Entry 2025ShoperyActive
E-commerceSpain· Entry 2018
Spain· Entry 2018SofiaLookActive
InsurTechMexico· Entry 2024
TacterActive
GamingSpain· Entry 2022
Spain· Entry 2022Tl;dvActive
SaaSGermany· Entry 2022
Germany· Entry 2022TrackingplanActive
Data & AnalyticsSpain· Entry 2022
Spain· Entry 2022UrbanitaeActive
PropTechSpain· Entry 2018
Spain· Entry 2018K Fund IVCHarvesting2016 · 10yr€50M9 active · 5 realized
Unrealized
9 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| HealthTech | Spain | 2023 | |
| InsurTech | Spain | 2019 | |
| SaaS | Spain | 2018 | |
| Cloud Infrastructure | Spain | 2016 | |
| E-commerce | Spain | 2018 | |
| HR Tech | Spain | 2018 | |
| Fintech | Spain | 2019 | |
| Consumer | Spain | 2016 | |
| Consumer | Spain | 2023 |
BarkibuActive
HealthTechSpain· Entry 2023
Spain· Entry 2023BdeoActive
InsurTechSpain· Entry 2019
Spain· Entry 2019BloobirdsActive
SaaSSpain· Entry 2018
Spain· Entry 2018ClevernetActive
Cloud InfrastructureSpain· Entry 2016
Spain· Entry 2016ExoticcaActive
E-commerceSpain· Entry 2018
Spain· Entry 2018FactorialActive
HR TechSpain· Entry 2018
Spain· Entry 2018GoinActive
FintechSpain· Entry 2019
Spain· Entry 2019HooksActive
ConsumerSpain· Entry 2016
Spain· Entry 2016VoicemodActive
ConsumerSpain· Entry 2023
Spain· Entry 2023Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | Spain | 2018 | 2023 | Trade Sale | – | ||
| Fintech | Spain | 2017 | 2021 | Trade Sale | – | ||
| DevTools | Spain | 2020 | 2021 | Trade Sale | – | ||
| Software | Spain | 2019 | 2025 | Trade Sale | – | ||
| Energy | Spain | 2016 | 2021 | Trade Sale | – |
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Last updated August 2026 · Sourced from public filings · Report an issue