The venture capital firm Draper B1 announces the closing of its new fund, Draper B1 Frontier Tech, with more than €20 million and a clear focus on high-traction technologies that are redefining the future—from artificial intelligence to spacetech and cybersecurity.
This is the flagship fund of Tim Draper in Spain and Europe, one of the world’s most prominent seed investors, who was an early backer of companies such as Hotmail, Skype, Tesla (he invested before Elon Musk), Coinbase, Twitch, and many other unicorns.
For this fund, Draper B1 aims to place even greater emphasis on strengthening the connection between Europe and the United States, and on the ability of portfolio companies to scale internationally. The United States accounts for more than 60% of the global software market, and if Spanish and European tech companies aspire to be relevant, they need to sell there. The alliance with the Draper ecosystem facilitates that entry and reinforces the chances of turning these companies into global leaders.
The fund has institutional support from FondICO Global and IVF, which renew their confidence in the manager. This is complemented by private investors, with a repeat-investment rate above 70%—a sign of the consistency of Draper B1’s model.
After the first closing in 2024, Draper B1 Frontier Tech has already made nine initial investments in disruptive startups such as Sycai Medical, Açai Travel, Collimate Space, Stowlog, and 8layers, among others. All fall within the deep-tech space and reflect the fund’s strategic orientation toward technologies with high disruptive potential and clear global-scale ambition. This fund continues the strategy of Draper B1’s previous fund, of similar size, which is achieving 100% returns in under five years.
The firm explains that the future lies in betting on frontier technologies and on companies capable of transforming entire sectors. Frontier Tech was created to support and empower founders who are pushing those boundaries and who can create new market categories.
“Venture Capital in Spain is experiencing a moment of growth, and in our case, our track record and results speak for themselves. We are focusing on technologies that will transform the future, and we are committed to being pioneers in demonstrating that investing in startups is a safe, profitable, and socially responsible bet. Without a doubt, we have the contacts, the knowledge, and the tools— with one foot in the U.S.—to discover the exits of the future,” says Enrique Penichet, founding partner of Draper B1. “Additionally, our connections with the Draper Venture Network, through our investor partner Tim Draper, ensure that our portfolio—where we invest at the seed stage—has a foothold in the U.S. market,” he adds.
With this new vehicle, Draper B1 consolidates more than ten years of experience in the investment ecosystem. It has managed three funds, invested in over 100 startups, and built an exit track record that demonstrates its ability to generate value, materialize it, and return it to its investors. Notable exits include an early divestment in Signaturit, with a highly significant multiple and IRR. This is in addition to a near 40x return in Jeff and 9x in Traventia. Alongside these successes, there are around ten additional exits generating returns of three to five times the capital invested, showing consistency in execution and company selection.
The current portfolio reflects the maturity of the strategy and the manager’s scaling potential. Startups such as Fourvenues, Splight, Imperia, and Arkadia Space are gaining traction in markets such as artificial intelligence, machine learning, cybersecurity, and space technology. The first two already have a strong presence in the United States, reinforcing the fund’s thesis on the importance of entering the world’s largest software market.
The support of its co-investor network acts as external validation of Draper B1’s model. Recent rounds have included leading international investors such as Octopus (in Dost), Burda (in Imperia), Expansion Fund (in Arkadia), or Flashpoint (in Vidext). The list also includes global firms like Bessemer and, of course, Draper Associates, confirming the quality of the deal flow and the appeal of the manager’s portfolio companies.
Draper B1 is a venture capital firm based in Valencia with international presence, specializing in early-stage technology startups. It is part of the Draper Venture Network, the global alliance led by Tim Draper that brings together more than twenty funds located in the world’s main tech hubs.
Its mission is to support entrepreneurs and provide them with the tools and connections needed to scale and globalize their companies. Belonging to the Draper ecosystem offers direct access to an international network—especially focused on the United States—facilitating expansion and accelerating the growth of portfolio companies.
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