Spanish venture capital firm Kibo Ventures Partners (fka Kibo Ventures) held the first close of its second fund, at €71m.
Backers included the European Investment Fund, Telefonica Open Future SLU, Innvierte Economía Sostenible, Fond-ICO, Criteria Venture Capital, pension funds and family offices and other private investors. Kibo Ventures Fund II has a final target of €100m.
The fund will invest in early stage tech startups (from €500k to €1M) and – if needed – in their successive rounds (up to €5M per company).
The Madrid based firm, which is led by founding partners Aquilino Peña, Javier Torremocha, and José María Amusátegui, and investment managers Joaquín Rebuelta and Juan López Santamaría, has also appointed Sonia Fernandez as an investment partner and Valeria Loewe as Director of Operations and Business.
The portfolio includes PeerTransfer, JobandTalent, Captio, Omnidrone, Qustodio, Minube, etc.
Among others, exits include Trip4Real (recently sold to AirBNnB), Ducksboard (sold to New Relic) Blink (sold to Groupon).