Today, two of Barcelona’s most experienced tech investors announced the launch of a new angel fund, Masia. In collaboration with some of the city's most exciting and successful entrepreneurs, the fund seeks to capitalise on Barcelona's growth as a leading European tech hub. It will act as the connector between international investors and tech founders based locally.
Masia was founded by Aldea Ventures co-founder Carlos Trenchs and the co-founder of Crowdcube Europe, Pepe Borrell. As veterans of the European tech scene and proud Barcelonians, Trenchs and Borrell have identified three reasons the city of Barcelona is on the precipice of becoming a major European tech hub:
These three factors have led to the creation of a local expert angel fund to connect the pieces.
Co-founder and Chairman Carlos Trenchs said, “There is a huge opportunity developing in Barcelona. We have incredible tech talent from institutions like the Supercomputing Centre, former operators from successful businesses like Glovo, Factorial, and Travelperk, and international tech talent relocating and choosing to build startups here. Meanwhile, a new breed of MicroVCs and angel funds across Europe are changing how pre-seed and seed rounds are conducted. By acting as a glue for these two emerging forces, now is the time for a fund like Masia to help develop Barcelona into a major European ecosystem for startups.”
Masia launched in stealth mode in September last year, investing in nine startups alongside 20 international VCs and angel funds led by emerging managers. Masia is investing in frontier technologies, ranging from artificial intelligence to climate and life sciences.
Early portfolio companies include Fermat, which enables non-technical people and teams to build AI workflows; Biorce, an AI-powered platform to streamline clinical trial processes; Oliva, a platform providing specialist, on-demand mental health and wellbeing support to employees; and Zymvol, a breakthrough technology that leverages molecular modelling, AI, and graph theory to transform enzyme discovery and optimisation.
Across six of the nine rounds Masia has participated in, Masia was the only local VC firm involved, demonstrating the opportunity to support Barcelona-based founders. The team intends to deploy €20 million across sixty investments at the pre-seed and seed stages.
Masia’s advisory board includes some of Barcelona’s most accomplished tech entrepreneurs and operators, such as Didac Lee (co-founder of Galdana & TradeInn), Albert Nieto (co-founder of Seedtag), Elisenda Bou (co-founder of Vilynx, acq.Apple), Philippe Gelis (co-founder of Kantox, acq. BNP Paribas), and Albert Castells (co-founder iSalud, acq. CNP Insurance). This group represents the LPs contributing to the Masia fund.
Founding Partner Pepe Borrell said, “Although a proud Barcelonian, I have worked all over Europe in various capacities. I can say with complete objectivity that the potential we see first-hand in Barcelona is significant. A perfect storm of factors means the immediate future for tech in the region looks extremely healthy. We want to be part of that process. Using our combined experience and the support of our Limited Partners, we hope to foster real growth for Barcelonian teams across Europe.”
Pedro Coelho, co-founder and CEO at Biorce, commented, “This unique chance to partner with Pepe and Carlos in Barcelona on pivotal matters—encompassing everything from team development to long-term vision and vital client collaborations—is an immense privilege. It cultivates an invaluable feeling of home and support."
In the coming months, Trenchs and Borrell will have significant investment announcements to make, towards their goal of capitalizing on a local tech scene on its way to becoming one of the major tech hubs in Europe.
About Masia
Masia is an angel fund backed by successful entrepreneurs from Barcelona. It invests in local and international visionary founders who are building global technology companies in the city. The fund operates collaboratively, co-investing with other angel funds and specialist micro-VCs at the pre-seed and seed stages. Additionally, Masia selectively invests in international angel funds to foster strong partnerships.
Led by Carlos Trenchs (25+ years in VC, founder of Aldea Ventures, a European FoF specializing in emerging managers) and Pepe Borrell (15+ years as operator, co-founder of Crowdcube Spain – acq., GM Europe at Crowdcube Global, and angel investor).
For more information, go to masia.vc
About Carlos Trenchs, Co-Founder and Chairman of Masia
Carlos is passionate about empowering entrepreneurs, fostering innovation, and building bridges between local and global ecosystems. Throughout his career, he has worked to position Barcelona as a globally recognized hub for startups, deep tech, and investment.
Alongside Pepe Borrell, Carlos has co-founded Masia, a new-generation €20m angel fund for Barcelona. Connected to leading international micro VCs and backed by experienced tech founders, Masia invests in and supports founders born or building in Barcelona. Masia is the early check into ‘Barcelonian-tech”.
Previously, Carlos co-founded Aldea Ventures, a leading European fund of funds that backs Micro VCs, helping to strengthen the next wave of investors and startups across Europe. He also built and led Caixa Capital Risc (la Caixa), pioneering Spain's first generation of institutional seed capital.
As an early investor, he has supported some of Spain’s most successful startups, investing at the pre-seed and seed stages in companies such as Mitiga, Factorial, Vilynx, Glovo, Vlex, Wallapop, Privalia, and TradeInn.
Beyond investing, Carlos is committed to knowledge sharing and ecosystem building. He teaches venture capital and corporate venturing at ESADE, helping shape the next generation of investors and entrepreneurs. He works with public institutions to drive long-term impact through VC strategies and innovation programs.
Carlos is a connector, collaborator, and advocate for Barcelona’s growth as a global innovation and deep tech hub. He believes fostering opportunities, partnerships, and knowledge exchange can create a stronger, more connected future for entrepreneurs and investors.
About Pepe Borrell, Founding Partner of Masia
Born and raised in Barcelona, Pepe’s journey has taken him worldwide, competing in field hockey for various clubs and representing the Spanish national team.
Alongside Carlos Trenchs, he co-founded Masia, a new-generation €20m angel fund for Barcelona. Connected to leading international micro VCs and backed by experienced tech founders, Masia invests in and supports founders born or building in Barcelona. Masia is the early check into ‘Barcelonian-tech”.
In 2014, Pepe co-founded Crowdcube Spain, a joint venture later acquired by its parent company. He went on to serve as Country Manager Spain, VP International, and MD Europe—opening offices in Paris and Stockholm and joining the company’s Leadership Team. Following Brexit, Crowdcube’s Spanish subsidiary became the Group’s regulated EU headquarters.
Over the years, Pepe has originated 200+ equity deals for companies like Cowboy, Qonto, Finary, ID Finance, and Heura. Crowdcube also raised venture funding from Balderton, Molten, Circle, and 13,000+ retail investors from its customer community.
Pepe enjoys backing founders as early as possible—helping them scale with go-to-market support, international expansion, and fundraising or M&A strategies.
Masia Portfolio
Biorce is an AI-powered platform designed to streamline clinical trial processes. The platform comprises three main products that form an end-to-end solution: Jarvis (AI Chat for Clinical Research), Mark (Protocol Development Tool), and Friday (Feasibility Assessment Tool). Biorce reduces time, cost, and inefficiencies in clinical trials while improving outcomes through predictive analytics and data integration.
Capably is a no-code AI workflow platform enabling companies to automate deterministic and intelligent tasks. The platform integrates with multiple data sources, giving organizations complete control over their operations.
CareerOS helps students, career advisors, and employers build relationships for better outcomes. It offers a comprehensive "career playbook," simplifying career planning and application management with AI-driven insights.
Fermat enables non-technical individuals and teams to build their own AI workflows to supercharge their work. The product is a multimodal, multiplayer spatial canvas for real-time collaboration that emphasizes end-user programming.
Galtea AI is a comprehensive AI evaluation platform that makes AI Models safer, more traceable, and fully compliant with regulations. By automating processes, Galtea AI significantly reduces the time and resources required for compliance, cutting manual efforts by up to 80 percent, accelerating time to market, and minimizing legal risks.
IMA Health is revolutionizing medication management for polypharmacy patients, a growing problem worldwide, by using robotics to pre-sort their multiple medications. After many pivots, IMA has discovered a winning model: owning and operating its own pharmacies.
Oliva offers specialist, on-demand mental health and wellbeing support to employees. The product leverages an AI model and a global network of 1.7k verified therapists and coaches across 35+ languages and 30+ countries, providing immediate, personalized support.
Spock empowers consumers to achieve lower energy rates through collective purchasing. The company's vision is to enable peer-to-peer energy exchange through innovative solutions such as virtual solar panels and smart battery solutions.
Zymvol’s breakthrough technology leverages molecular modelling, artificial intelligence, and graph theory to transform enzyme discovery and optimisation. By generating realistic 3D models and screening libraries of enzyme sequences, Zymvol identifies and customizes enzymes for high-performance applications that meet specific industrial needs
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