Investment firm Balio Capital has strengthened its presence in the Basque Country with the opening of a new office in Bilbao and the incorporation of three new shareholders: Dularra Inversiones, Grupo Empresarial Holfisa and Mugarri. These additions will enhance the firm’s investment capacity and consolidate its activity in the region and nearby areas.
Balio Capital was founded by a group of investors with extensive experience in business management and has counted among its shareholders prominent entrepreneurs such as Iñaki López Gandásegui (recently deceased) and Pedro Abásolo. The investment platform is led by Javier Vélez, Sergio Pérez and the partners of IKEI, Esteban Barrenechea and Xabier Gil.
The new office in the Biscayan capital adds to the one the firm already operates in San Sebastián, reinforcing its proximity to the business community in the Basque Country and neighbouring regions. The arrival of the new shareholders—who join Kaizaharra Corporación Empresarial and Pedro Abásolo’s investment vehicle—will significantly increase Balio Capital’s investment capacity.
“The Basque Country has a highly industrial business fabric and family-owned companies with great potential. The new office in Bilbao will allow us to be closer to entrepreneurs and support growth processes, generational transitions or sector consolidation with an industrial and long-term perspective. This step also comes after the incorporation of new partners who strengthen our capacity to support more transactions both in the Basque Country and nationwide,” said Sergio Pérez, Managing Director of Balio Capital.
Continued investment activity in the Basque Country
The expansion of Balio Capital’s presence in the region continues the activity the firm has already been developing in the Basque Country. During 2025, the firm completed three acquisitions. Two of them were in the food sector, specifically in processed meat products, with the acquisitions of Embutidos La Granja and Adobos Caysan, companies that reported a combined turnover of €22.5 million in 2025.
In addition, Balio Capital acquired industrial stakes in a company specialising in alloying agents for the aluminium industry.
In these transactions, alongside the founding team, other partners and investors of Balio Capital participated, sharing a similar vision regarding investments in private companies. The firm highlights that Balio Capital is structured as “a flexible investment platform, open to the incorporation of new investors and entrepreneurs in future transactions”.
Integration into the Basque investment ecosystem
In line with its commitment to the regional business ecosystem, at the beginning of 2026 Balio Capital joined BasqueFIK, the Basque financial and investment cluster, as a new member entity.
The firm aims to combine the strategic expertise of its team with operational capabilities and an industrial approach, investing in companies and supporting entrepreneurs who seek to strengthen their businesses, ensure the continuity of their projects without renouncing their identity, or address divestment processes. To that end, Balio Capital offers flexibility in terms of investment horizon, strategy and ticket size.
With this new office in Bilbao and the strengthening of its shareholder base, Balio Capital aims to consolidate its position as one of the leading private equity investment groups in the Basque Country, supporting growth, succession and sector consolidation processes in companies both in the Basque Country and Navarra as well as across Spain.
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