Caixa Capital Risc, through its ICT investment division, has acquired a stake in German start-up Build38. The deal has been carried out through a 3 million euros capital increase, which has been subscribed in equal parts between Caixa Capital Risc and the German fund eCapital, which provides early to growth stage funding to technology companies in the fields of cybersecurity, industry 4.0, new materials and cleantech.
Build38 is a startup with offices in Barcelona, Munich and Singapore focused on the development of cybersecurity solutions for mobile apps and password-free authentication. The company, recognised as a supplier of the consultancy firm Gartner since 2019, has an important portfolio of international clients in sectors such as finance, automotive and ticketing, among others.
The arrival of the new financial investors in Build38, who will join the main shareholder (G+D Ventures, the Corporate Venture Capital arm of the Giesecke+Devrient Group that finances early stage European startups) and the founding partners – notably three Spanish entrepreneurs – marks a new stage in the life of the start-up, which will now focus on the development of new functionalities for its products and will seek to enter new market segments, such as health and digital identity.
By acquiring its stake in Build38, Caixa Capital Risc has strengthened its commitment to the cybersecurity industry, which is one of the main sectors in its investment strategy and one of the most in demand on the technological scene, having in mind the unstoppable moment that the digitalisation of services by companies is experiencing, driven especially by the market situation resulting from the pandemic.
The deal is also a further show of Caixa Capital Risc’s change of course two years ago to focus on ICT investments, as it seeks to pick out investment opportunities in the fields of B2B SaaS and deep tech. The move to acquire a stake in Build38 and the strength of its existing stake in Appentra by taking part in the latest round of investments, are recent examples of the approach that Caixa Capital Risc is pursuing in this segment of the market.
In 2020, Caixa Capital Risc has continued to streamline its portfolio with divestments of mature assets, with notable examples including the Playgiga deal, a cloud video game company acquired by Facebook. In 2021, Caixa Capital Risc will also continue looking for new investment opportunities in cyber-security and digital heath markets. It will also analyse investments in startups that operate in sectors with technological solutions based on Artificial Intelligence, IoT, Big Data, and cloud infrastructure, among others.
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