Seaya Ventures closes its third fund at €165M; will close 5 more investments within next few weeks

Madrid-based Seaya Ventures, a venture fund investing in early and growth-stage Internet and technology-enabled companies, has announced the closing of its third fund, Seaya III, at €165M. 

The fund says it has exceeded its original target size of €125M and is now one of the largest VC funds in Southern Europe.

Including the current fund, in just two-and-a-half years, Seaya has more than doubled its assets under management up to €350M. Prior to this, the VC firm raised two previous funds, Seaya II at €103M in 2017 and Seaya I at €57M in 2013.

Seaya III already invested in 10 startups

The VC firm claims to have a broad, international investor base, especially from Europe and the Americas, in its third fund. It includes institutional investors and family offices providing strategic support. The majority of the investment came from existing investors from previous funds.

Seaya Ventures reports that it has already made 10 investments to date through the Seaya III fund. The startups include Sensei, Filmin, Alma, Toq.io, Fracttal, Flexcar, receeve, CrowdFarming, RatedPower, and Aquí Tu Reforma.

Beatriz Gonzalez, founder of Seaya Ventures, says, “We will continue backing founders and tech companies that have a mission that goes beyond financials, as these companies have proven that, on top of making the world a better place, they are more resilient, attract better talent, and provide a better financial return for investors.”

The fund will continue to focus on leading Series A and B rounds, being able to invest up to €20M per company throughout several rounds. It is looking at sectors such as fintech, insurtech, edtech, healthtech, and mobility, and expects to close five additional deals in the following weeks.

“Creating the next generation of companies in Europe and Latin America”

Founded in 2013 by Beatriz Gonzalez, Seaya Ventures is a Spanish venture fund investing in early and growth-stage internet and technology-enabled companies in Spain and Latin America. 

By leveraging its local knowledge with a global ecosystem, the firm aims to transform early and growth-stage companies into category leaders, with a focus on innovative businesses that require growth or expansion capital and can build lasting value.

Its investments are focused on products and services that facilitate the migration to a digital world such as digital marketplaces, consumer and internet media, consumer and mobile media, enterprise, consumer software and services, and internet and mobile payments.

Seaya claims to partner exclusively with companies that target long-term and sustainable growth. Since its inception, the firm has invested in 37 tech companies, including the first three Spanish unicorns Cabify, Glovo and Wallbox. Wallbox further went on to become the first Spanish technology company to go public on the NYSE. The firm’s aggregate portfolio is currently worth more than €7B, having attracted more than €2B in funding.

Last month, Seaya Ventures and US-based VC firm Cathay Innovation announced its first close of a $125M multi-sector fund to invest in startups across Latin America.