
Kfund is a multi-stage venture capital firm based in Madrid, Spain, investing in entrepreneurs across Southern Europe and Latin America. The firm invests from pre-seed to Series B with tickets ranging from €100,000 to €15 million, focusing on high-impact technology startups in areas such as AI, data analytics, cloud services, and blockchain.
Average disclosed round size is $31.6M (across 42 rounds with reported amounts).
Portfolio
80
Fund Size
$76M
Top Stage
Seed
Last 12 Mo
10
Team
Pablo Ventura
I was previously Partner and Managing Director at JME Venture Capital and FJME, where I helped lead investments into now unicorns Jobandtalent and Flywire. With a long-standing career in venture capital, I joined Kfund before its first investment, bringing years of experience in building and leading investment teams. I have a particular interest in double-use technologies and software solutions for SMEs, especially those leveraging AI.
Gustavo Ribas
Lawyer turned investor, with experience in VC, PE and liquid investments. Former partner and CIO of RXZ Investimentos, an investment company doing liquid and non-liquid investments throughout Latam and in selected global markets. Former founder and partner of VC firm Provence Capital and alternative investments asset management firm Mogno Capital. Experience in board roles, operator and mentorship. Now focused on building a first class presence for K Fund in Latam.
Marc Clemente
Before joining K I was an analyst at BlueBull Ventures, an M&A boutique specializing in startups and high tech. I'm now part of K Fund's investment team, with a strong focus on areas such as logistics, foodtech and fintech. I also lead our pre-seed investment program, K Founders.
Borja Santos
I was responsible for launching Stripe in Spain and Portugal, and served as head of both countries for the fintech giant for more than 6 years. Prior to that, I also held several GTM and sales roles at technology companies, and I'm now looking to apply that prior experience in the investment world to help startups scale fast and efficiently.
María de Lera Auersperg
Banker turned operator turned investor. Joined K as I returned home to Madrid after ~20 years in the US and London, where I built a career advising, operating and investing in technology: tech banking at Credit Suisse, launching new business lines at Lyft, and investing at Mosaic Ventures and Felix Capital. I’m obsessed with user-centric products at the intersection of technology and creativity.
Teresa Checa
I’m K Head of Legal and spend my time on the whole variety of legalese aspects of the investment and investors sides of the business. With previous experience at a magic circle English law firm, a French investment bank and a Basque venture capital. Passionate about sailing and reading.
Carina Szpilka
After beginning my career at Banco Santander and Argentaria, I joined ING Direct in 1998 as part of the team that introduced the bank to the Spanish market. In 2008, I was appointed CEO of ING Direct France, and in 2010, I returned to Spain to lead as CEO until 2014. Since then, I have focused my efforts on developing Kfund, where I support the creation of new tech and customer-centric companies, helping to drive the next generation of innovators.
Cristina Garcia-Margallo
Before joining Kfund, I was a lawyer specializing in litigation and arbitration in civil, commercial, and corporate law. At K, I built and led the Compliance and Risk Management function, protecting our investors and ensuring the firm operates within regulatory frameworks. I now head Legal and Finance, overseeing both the legal and financial governance of the firm and its funds.
Jorge Campo
My previous international academic experiences sparked interest in the intersection of technology and business. Having graduated as a Biomedical Engineer, I joined K to closely follow the most disruptive technological trends, understanding their competitive differentiation within the industry.
Maria Recalde
Dedicated professional with 10+ years of experience providing comprehensive administrative and operational support to C-level personnel as an Office Manager and Executive Assistant. My expertise lies in coordinating and leading administrative and operational functions for senior-level staff and department directors. Backed by superior communication and multitasking capabilities, I excel at providing organizacional and time-management skills and driving optimal office efficiency and success.
Miguel Elizondo
I’m a proud content freak who has spent the last two decades putting words together, relaunching newspapers, building companies (Visual Thinking, Festrip, pirt.co, and MOTUM), and helping brands craft stories that make an impact. At K, my mission is to blend creativity and strategy into communication that works.
Paula Andreu
With a background in biomedical engineering, I transitioned into consulting to explore the business side. My passion for health, tech and innovation led me to pursue an MSc in Digital Health & Entrepreneurship at UCL, and after diving into the startup and VC ecosystem, I knew this was my path. Now at Kfund, I strive to contribute to the acceleration of key technologies across Spain, Southern Europe, and LatAm.
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
| Series C | $150M | Aug 2026 | |
| HHappyrobot Inc | Series C | $150M | Aug 2026 |
| Pre-Seed | — | Jun 2026 | |
| Seed | $4.5M | Jan 2026 | |
| Series A | $20M | Jan 2026 | |
| Series A | — | Jan 2026 | |
| Pre-Seed | $4M | Dec 2025 | |
| Series B | $45M | Nov 2025 | |
| PPatagon | Seed | — | Nov 2025 |
| Pre-Seed | — | Oct 2025 | |
| Pre-Seed | — | Jul 2025 | |
| Series A | $53.9M | Jun 2025 | |
| Series B | $60M | Jun 2025 | |
| Series B | $52.5M | Jun 2025 | |
| Series A | — | May 2025 | |
| AAktiia (rebranding to Hilo) | Series B | — | May 2025 |
| Series B | $42M | May 2025 | |
| Seed | — | Jan 2025 | |
| Seed | $7.5M | Jan 2025 | |
| Pre-Seed | — | Jan 2025 | |
| Series A | — | Jan 2025 | |
| Series B | $60M | Jan 2025 | |
| Series B | $60M | Jan 2025 | |
| Unknown | $20M | Nov 2024 | |
| Series A | $10M | Oct 2024 |
Top Co-Investors
Last updated: 7 October 2026