A new €50m VC fund called K Fund has opened in Spain.
The fund is looking to invest in Spanish startups or international companies with a connection to Spain, aiming to lead seed and Series A rounds.
K Fund said it will be offering investment of between €100,000 and €2m, in addition to follow-on rounds with a maximum of €7.5m.
The new VC fund is being led by Ian Noel, Pablo Ventura, Jaime Novoa, Ignacio Larru, IÃ±aki Arrola and Carina Szpilka.
The team is looking in invest in startups that already have a product in the market, saying: “We need some kind of early metrics. We don’t invest in powerpoints.”
In a statement provided to TechCrunch, partner IÃ±aki Arrola said: “We truly believe that what differentiates our fund from others is our entrepreneur-focus: our objective is to work with them and to transfer our knowledge and value so that they can build bigger and more profitable companies.
“We’re aware of our limitations, and that’s why not only we’ve brought on board a great set of investors, but also two additional structures”.
K Fund’s portfolio is currently said to include three companies – Salupro, Lucera and Hooks – and the new fund could be a perfect opportunity for any budding Spanish dating startups looking for investment.
Find out more about the fund here.