Samaipata strengthens its commitment to the European tech ecosystem with the launch of its third fund, a €110 million vehicle targeting early-stage startups leveraging opportunities unlocked by artificial intelligence
The fund, which has already raised €70 million, is backed by institutional investors such as the Spanish Society for Technological Transformation (SETT) and the German KfW fund, alongside prominent Spanish family offices.
The fund also includes participation from founders previously backed by Samaipata in its first two funds, who are now reinvesting in the firm following the growth of their companies. In addition, other leading entrepreneurs from the European tech ecosystem have joined, reinforcing the virtuous circle between capital, talent, and the creation of new ventures.
With this third fund, which held its first close in February, Samaipata aims to consolidate a long-term pan-European investor base. Fundraising will continue until the target of €110 million is reached, with the goal of bringing in additional institutional and private investors in a market where access to early-stage AI-focused vehicles in Europe remains limited.
Focus and strategy
This third vehicle will invest in 25 to 30 European companies, primarily targeting AI applications capable of transforming complex sectors, mainly in B2B environments, with potential network effects. The firm will lead early-stage rounds and may invest up to €10 million per company, including follow-on rounds.
Samaipata’s “Founder Success” platform will continue to be a key pillar of this fund’s value proposition, consolidating a support model for portfolio companies more common in top-tier U.S. venture capital firms but still relatively rare in Europe. To accelerate the growth of its portfolio, Samaipata provides resources across critical early-stage areas, from product and technology to executive coaching. Founders gain access to a network of Operating Partners with experience at companies such as Anthropic, Google, Airbnb, Spotify, and N26, providing strategic perspective and operational expertise at crucial moments. This support is complemented by connections to customers and talent, as well as assistance in structuring and raising future rounds, further reinforced by partnerships with technology leaders like Nvidia, Anthropic, Microsoft Azure, and Google Gemini.
From experimentation to real adoption
The fund is launching at a moment of AI market consolidation. After an initial phase dominated by technological experimentation, artificial intelligence is beginning to integrate into critical processes within companies and public administrations.
Additionally, the drastic reduction in software development timelines and the expansion of addressable markets are enabling the creation of AI-native companies that scale with greater capital efficiency than in previous cycles.
“We are at an inflection point. AI capabilities have crossed economically valuable thresholds in many dimensions, and the bottleneck is now handling the complexity of implementation in tangible use cases. Europe has the talent and sector specialization to build global leaders from early stages,” says José del Barrio, founding partner of Samaipata.
Pan-European focus with roots in Spain
In addition to Spain, the fund will invest in other key European markets such as Germany, France, and the United Kingdom, consolidating the pan-European strategy initiated in 2016 by José del Barrio, co-founder of La Nevera Roja, and Eduardo Díez-Hochleitner, former partner at Apax and former chairman of MásMóvil.
To date, Samaipata has invested in 44 European tech companies through its first two funds. Notable portfolio companies include Embat, Imperia, and VIVLA in Spain, and Nory, Bigblue, Matera, and Legl in other European markets.
The firm’s first fund achieved an 80% graduation rate to Series A or higher rounds, while the second fund, now five years old, has already reached 60% — in a context where fewer than 15% of seed-stage startups successfully close a Series A. Many of these follow-on rounds have been led by top-tier international funds specializing in later stages, such as Accel, Creandum, and Index Ventures.
Among Samaipata’s most notable portfolio exits is Deporvillage, sold in 2021 at a valuation 25 times higher than the initial investment five years earlier.
“Samaipata understood the business from day one and provided strategic guidance when we needed it most. Beyond the capital, their involvement was decisive at key growth moments,” says Xavier Pladellorens, co-founder of Deporvillage and a repeat investor in all of Samaipata’s funds.
About Samaipata
Samaipata is a pan-European venture capital firm investing in early-stage tech companies, with €250M in assets under management. Since its founding in 2016 by José del Barrio and Eduardo Díez-Hochleitner, Samaipata has invested in 44 European companies, including Matera, Deporvillage, Embat, Imperia, Legl, VIVLA, Bigblue, Nory, and Foodchéri. Several of these companies have also received follow-on support from top-tier international funds specializing in later stages, including Accel, Bessemer, Creandum, Hedosophia, and Index Ventures
cloud technology axon
This transaction reinforces Alantra’s continued momentum in Aerospac...
