4Founders Capital reaches €70 million final close for its third fund

4Founders Capital, one of the most recognized venture capital firms in Spain’s entrepreneurial ecosystem, has announced the final closing of its third fund, 4Founders Capital III, for a total of €70M, exceeding its initial target of €65M. The final close took place at the end of July 2025, just six months after the first close, consolidating it as the largest fund at the pre-seed stage in Spain.

The main investors in 4Founders Capital III include the EIF (European Investment Fund), CDTI-Innvierte, Institut Català de Finances (ICF), insurance companies, family offices, as well as a large number of entrepreneurs. The founding team highlights that 88% of the investor base from previous funds has reinvested in this third fund, clearly validating the strategy and strong returns achieved by the first two Funds.

This latest vehicle follows the same strategy as the first two (vintage years 2017 and 2021). Its primary objective is to invest in “Spanish-linked” startups at pre-seed and seed stages with global ambition, focusing on generating EBITDA and high revenue growth driven by technology and efficient use of capital. Initial tickets range from €300K to €2M, with strong follow-on capacity of up to €6M per company. The target sectors remain unchanged.

4Founders Capital defines itself as a generalist fund but has special interest in high-tech B2B SaaS companies with strong AI usage, particularly in sectors such as fintech, business services, traveltech, cybersecurity, and developer tools. Until now, 4Founders Capital III has made five investments in companies including Mogu, Puntopost, Showme, Altan, and Steryon, and plans to invest in approximately 40 companies over the next four years.

“We are very pleased with the oversubscribed final close of our third fund and very grateful to our investors for their continued trust. The continuity of previous investors, along with the addition of new strategic partners, strengthens our ability to continue supporting the entrepreneurial ecosystem. Additionally, we are actively seeking and evaluating new projects,” said Marc Badosa, co-founder of 4Founders Capital.

The fund is led by a team of former entrepreneurs and investors with proven track records in venture capital and building multimillion-euro startups: Jesús Monleón, Javier Pérez-Tenessa, Marc Badosa, Marek Fodor, and Paula Blázquez. Together, they have founded six companies that now generate tens of millions in EBITDA annually. Their expertise in value creation and identifying high-growth opportunities positions them as a reference point in the sector.

Over €134M under management, making it the leading and largest pre-seed fund in Spain.

With €134M under management, the firm has consolidated itself as the biggest pre-seed investor in Spain, leading deals from the earliest stages and supporting them through exit. This position allows preferential access to high-potential opportunities led by the country’s top entrepreneurs and supports them throughout their growth.

Previous funds have demonstrated an outstanding track record. The first fund, 4Founders Capital I, has achieved a significant milestone by generating €1.65 for every euro invested and a net IRR exceeding 18%. Since its creation in 2017, it has completed 11 exits, including Holded, Securitize, Flanks, and The Hotels Network, and still maintains an active portfolio of 13 companies, including Mailsuite, Baluwo, and Scoolinary, expected to further increase investor returns.

Meanwhile, 4Founders Capital II, launched in 2021 with a size of €50M, has continued to expand its investment strategy with 38 startups in its portfolio, including notable companies such as Embat, Zenrows, Vidext, TaxDown, Viterbit, DealCar, and Invofox.

About 4Founders Capital.

4Founders Capital is an independent Venture Capital fund management firm with €134M under management, founded in Barcelona in 2017. Its goal is to invest in high-growth tech companies with a clear focus on achieving profitability, capital efficiency, and having strong teams. 4Founders Capital is led by Jesús Monleón, Marc Badosa, Javier Pérez-Tenessa, Paula Blázquez, and Marek Fodor. The team’s international DNA and their extensive experience as founders, investors, and CEOs of successful tech companies allow them to help entrepreneurs and maximize their chances of success in building high-impact global tech businesses.