Kibo Ventures
Kibo Ventures is a Madrid-based venture capital firm founded in 2012 by Aquilino Pena and Javier Torremocha, backing early-stage technology startups at seed and Series A across Spain and the rest of Europe. The firm states more than EUR 500 million under management across six funds and over 80 portfolio companies, with unicorns such as Jobandtalent, Devo, Tier Mobility and Sorare, a Nasdaq IPO with Flywire, and trade sales to Apple, Aon, PayPal and CrowdStrike; it has since added a private-equity arm, Kibo Nzyme.
AUM
€500M
Funds
6
vintages 2012–2025
Portfolio
44
Exits
16
Key facts
Recent exits
Onum
Cybersecurity2025 · 1yr hold
Proportunity
PropTech2024 · 3yr hold
Qustodio
Software2022 · 9yr hold
21Buttons
E-commerce2021 · 4yr hold
Coverage notes
6 funds tracked, 60 portfolio companies (44 active · 16 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
60 companiesAI/ML
7 · 12%
Fintech
5 · 8%
Cybersecurity
4 · 7%
SaaS
4 · 7%
E-commerce
4 · 7%
AdTech
4 · 7%
Logistics
3 · 5%
Gaming
3 · 5%
Funds & portfolio
Every fund Kibo Ventures has raised, with its portfolio companies. Hand-checked from public filings.
6 funds
Kibo Ventures Fund IVVC2025 · 1yr6 active
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AI/ML |  Spain | 2025 | |
| AI/ML | Spain | 2026 | |
| Aerospace & Defence | Spain | 2026 | |
| Cybersecurity | Spain | 2026 | |
| Deep Tech | Spain | 2025 | |
| SaaS | Spain | 2025 |
AnyformatActive
AI/MLSpain· Entry 2025
Spain· Entry 2025CalaActive
AI/MLSpain· Entry 2026
Spain· Entry 2026Fossa SystemsActive
Aerospace & DefenceSpain· Entry 2026
Spain· Entry 2026NeuralTrustActive
CybersecuritySpain· Entry 2026
Spain· Entry 2026Theker RoboticsActive
Deep TechSpain· Entry 2025
Spain· Entry 2025ZynapActive
SaaSSpain· Entry 2025
Spain· Entry 2025Kibo NzymeBuyout2022 · 4yr3 active
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare | Spain | 2023 | |
| Financials | Spain | 2025 | |
| Business Services | Spain | 2025 |
Dental IbericaActive
HealthcareSpain· Entry 2023
Spain· Entry 2023EquinvestActive
FinancialsSpain· Entry 2025
Spain· Entry 2025White VegaActive
Business ServicesSpain· Entry 2025
Spain· Entry 2025Kibo Ventures Opportunity Fund IVC2021 · 5yr3 active · 1 realized
Unrealized
3 heldKibo Ventures IIIVCHarvesting2020 · 6yr9 active
Unrealized
9 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| MedTech |  United Kingdom | 2022 | |
| Fintech | Mexico | 2020 | |
| Gaming | Spain | 2021 | |
| Fintech |  United States | 2022 | |
| Energy | Spain | 2021 | |
| AI/ML | United States | 2024 | |
| HealthTech | Spain | 2023 | |
| Gaming |  France | 2021 | |
| Logistics | Spain | 2021 |
AcurableActive
MedTechUnited Kingdom· Entry 2022
United Kingdom· Entry 2022BelvoActive
FintechMexico· Entry 2020
GamestryActive
GamingSpain· Entry 2021
Spain· Entry 2021GoTradeActive
FintechUnited States· Entry 2022
United States· Entry 2022Green EagleActive
EnergySpain· Entry 2021
Spain· Entry 2021HyperSpectralActive
AI/MLUnited States· Entry 2024
United States· Entry 2024QidaActive
HealthTechSpain· Entry 2023
Spain· Entry 2023SorareActive
GamingFrance· Entry 2021
France· Entry 2021TruckstersActive
LogisticsSpain· Entry 2021
Spain· Entry 2021Kibo Ventures IIVCHarvesting2016 · 10yr11 active · 6 realized
Unrealized
11 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| HR Tech | Spain | 2022 | |
| Data & Analytics | Spain | 2020 | |
| AI/ML | United States | 2018 | |
| Cybersecurity | United States | 2017 | |
| PropTech |  Germany | 2022 | |
| E-commerce | Spain | 2021 | |
| Deep Tech | Spain | 2023 | |
| EdTech | Spain | 2023 | |
| ClimateTech | Spain | 2023 | |
| Logistics | Spain | 2018 | |
| Mobility | Germany | 2018 |
CircularActive
HR TechSpain· Entry 2022
Spain· Entry 2022Clarity AIActive
Data & AnalyticsSpain· Entry 2020
Spain· Entry 2020Defined AIActive
AI/MLUnited States· Entry 2018
United States· Entry 2018DevoActive
CybersecurityUnited States· Entry 2017
United States· Entry 2017EvernestActive
PropTechGermany· Entry 2022
Germany· Entry 2022ExoticcaActive
E-commerceSpain· Entry 2021
Spain· Entry 2021FreneticActive
Deep TechSpain· Entry 2023
Spain· Entry 2023InnovamatActive
EdTechSpain· Entry 2023
Spain· Entry 2023MitigaActive
ClimateTechSpain· Entry 2023
Spain· Entry 2023PaackActive
LogisticsSpain· Entry 2018
Spain· Entry 2018Tier MobilityActive
MobilityGermany· Entry 2018
Germany· Entry 2018Realized
6 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| E-commerce | Spain | 2017 | 2021 | Trade Sale | – | ||
| Fintech | Spain | 2017 | 2021 | Trade Sale | – | ||
| Mobility | Spain | 2017 | 2021 | Trade Sale | – | ||
| InsurTech | United States | 2017 | 2020 | Trade Sale | – | ||
| SaaS | United States | 2019 | 2021 | Trade Sale | – | ||
| PropTech | United Kingdom | 2021 | 2024 | – | – | – |
ProportunityExited 2024
PropTechUnited Kingdom· Entry 2021
United Kingdom· Entry 2021Kibo Ventures IVCHarvesting2012 · 14yr€43M12 active · 9 realized
Unrealized
12 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AI/ML | Spain | 2017 | |
| E-commerce | Spain | 2017 | |
| Data & Analytics | United States | 2014 | |
| Gaming | Spain | 2017 | |
| AI/ML | Spain | 2018 | |
| Consumer |  Portugal | 2016 | |
| HR Tech | Spain | 2013 | |
| EdTech | Spain | 2016 | |
| AdTech | Spain | 2019 | |
| AdTech | Spain | 2016 | |
| AdTech | Spain | 2016 | |
| Industrials | Spain | 2015 |
AerialActive
AI/MLSpain· Entry 2017
Spain· Entry 2017ApartumActive
E-commerceSpain· Entry 2017
Spain· Entry 2017CartoActive
Data & AnalyticsUnited States· Entry 2014
United States· Entry 2014Game StrategiesActive
GamingSpain· Entry 2017
Spain· Entry 2017GestoosActive
AI/MLSpain· Entry 2018
Spain· Entry 2018Hole19Active
ConsumerPortugal· Entry 2016
Portugal· Entry 2016JobandtalentActive
HR TechSpain· Entry 2013
Spain· Entry 2013OdiloActive
EdTechSpain· Entry 2016
Spain· Entry 2016RewardswebActive
AdTechSpain· Entry 2019
Spain· Entry 2019Stoyo MediaActive
AdTechSpain· Entry 2016
Spain· Entry 2016TappxActive
AdTechSpain· Entry 2016
Spain· Entry 2016WorldsensingActive
IndustrialsSpain· Entry 2015
Spain· Entry 2015Realized
9 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cybersecurity | Spain | 2014 | 2021 | Trade Sale | – | ||
| SaaS | Spain | 2015 | 2018 | Trade Sale | – | ||
| SaaS | Spain | 2012 | 2014 | Trade Sale | – | ||
| Fintech | United States | 2013 | 2021 | IPO | – | – | |
| AdTech | Spain | 2013 | 2020 | Trade Sale | – | ||
| E-commerce | Spain | 2014 | 2018 | Trade Sale | – | ||
| Software | Spain | 2013 | 2022 | Trade Sale | – | ||
| Consumer | Spain | 2014 | 2016 | Trade Sale | – | ||
| AI/ML | Spain | 2017 | 2020 | Trade Sale | – |
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Last updated August 2026 · Sourced from public filings · Report an issue