Bynd Venture Capital launches new €40M Fund for Portuguese and Spanish startups

Iberian venture capital firm Bynd Venture Capital has launched €40 million Fund III to invest in Pre-Seed and Seed technology startups operating in Portugal or Spain.

According to Santiago Salazar, chairman of Bynd Venture Capital, the new fund highlights Bynd’s long-term commitment to the innovation ecosystem in the Iberian Peninsula, which began in 2010 with the launch of its  Business Angels vehicle and advanced in 2015 with the formation of the Venture Capital firm. 

“The experience and network of contacts we have developed over the last years gives us privileged access to investment opportunities and the ability to offer founders the tools and knowledge to scale their businesses.”

Bynd VC has a portfolio of over 60 regional investments and offers entrepreneurs close support and access to a platform of more than 400 partners and 70 active founders.

The fund aims to build a diverse portfolio of tech startups focused on AI and software, consumer goods, and sustainability technology. It will track ESG metrics across the portfolio and favour investments in companies that demonstrate a commitment to creating positive global impact and are led by diverse founding teams.

Among the investors are the Spanish fund of funds Fond-ICO, the Portuguese industrial group Nors, the bank Caixa Capital, as well as family companies, founders of the portfolio and other private investors.

“After our first closing in May, we have been actively investing and plan to make around 40 investments over the next four years.”

This includes approximately 20 investments in pre-seed startups and another 20 seed-stage companies, with additional capital earmarked for follow-on rounds.” says Francisco Ferreira Pinto, partner at Bynd VC.

To support its expansion and growth, Bynd has strengthened its local presence in Spain with the recruitment of two new associates, Gerard Adell for the Barcelona office, and Alvaro Garcia for Madrid.

Lead image: Bynd Venture Capital. Photo: uncredited.