AEBAN (the Spanish Business Angels Association) has welcomed Lemon Ventures as a new member. Managed by Innoventures Capital, Lemon Ventures is an investment vehicle that participates in seed and Series A funding rounds for Spanish startups.
Lemon Ventures' membership further broadens AEBAN's representation of investment vehicles and investment clubs linked to regional entrepreneurial ecosystems with the ability to identify promising opportunities, mobilize private capital, and support the growth of startups across Spain.
Early-stage investing is evolving towards an increasingly distributed model. Alongside Spain's main business hubs, regions such as Murcia have developed thriving entrepreneurial ecosystems where universities, public institutions, accelerators, corporations, entrepreneurs, and investors work together in a coordinated manner.
Within this context, local investment clubs, angel networks, and investment vehicles play a critical role. Their proximity to the local ecosystem enables them to identify promising startups at an early stage, develop close relationships with founding teams, and facilitate their first connections with private investors.
At the same time, these organizations are no longer limited to a regional focus. The investment opportunities they identify, the investors they collaborate with, and the companies they support increasingly operate on both a national and international scale.
"Local investment clubs and angel networks are a fundamental pillar in building a broader, more diverse, and better-connected investment ecosystem. They help identify entrepreneurial talent and investment opportunities at the local level while enabling those companies to access capital, expertise, and strategic relationships across Spain and internationally. Lemon Ventures' incorporation into AEBAN reinforces this vision and highlights the continued growth of the entrepreneurial and investment ecosystem in the Region of Murcia," said Marta Huidobro, President of AEBAN.
Investing in Early-Stage Spanish Startups
Lemon Ventures was established in 2023 as an investment vehicle for investors seeking exposure to high-growth Spanish startups.
The vehicle requires a minimum commitment of €100,000 per investor and typically invests between €100,000 and €200,000 in seed and Series A financing rounds, usually alongside lead investors and other specialized investment firms.
This co-investment model enables investors to share due diligence, combine sector expertise, and bring complementary capabilities to portfolio companies.
In addition to providing capital, Lemon Ventures aims to support startups through the entrepreneurial, strategic, and financial expertise of its team, while connecting founders with a broader network of investors and ecosystem stakeholders.
"Lemon Ventures was founded in Murcia but with a clearly national vision. We invest in Spanish startups and participate in funding rounds alongside leading investors, bringing experience, sound judgment, and long-term support. Joining AEBAN will enable us to strengthen our relationships with angel networks, investment clubs, business angels, and other investment vehicles, share knowledge, and create new co-investment opportunities," said Javier Fernández Gallardo, Board Member of Lemon Ventures.
Lemon Ventures currently has 14 investors, five of whom serve on its Board of Directors, which is responsible for all investment decisions. To date, the vehicle has invested in seven startups—Reskyt, Motoreto, Innitius, Robopedics, Acqustic, Heuristik, and Repscan—and plans to complete at least three additional investments before the end of 2026.
By joining AEBAN, Lemon Ventures will strengthen its connections with business angel networks, venture capital funds, family offices, investment companies and clubs, accelerators, and other organizations involved in financing innovative early-stage businesses.
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