No big changes in the Spanish VC funding landscape

- January 10, 2017

I just published this on K Fund’s blog. It’s an analysis of Spanish tech investment activity in 2016, using data from Dealroom, and also some that I’ve been collecting since 2013.

The main conclusion I can draw from this is that not much has changed in 2016 compared to the previous year, when investment levels hit an all-time high in Spain, reaching €543 million. The number of deals continues to grow, which is good news, and late stage rounds are still very few (Cabify was the only round bigger than €100 million in 2016).

What I think is really interesting is the fact that we’re seeing more and more Series A rounds (those between €1 million and €10 million) in Spain, which also coincides with an increasing number of VC firms raising capital to fund those companies.

As I wrote on K Fund’s blog, I think the data sample we have is still too small to draw big conclusions. A big round can heavily impact the analysis and lead to wrong conclusions, and that’s what I’m trying to avoid for the moment.

Jaime Novoa

Jaime Novoa is the Founder of Novobrief. He is a technology writer turned investor at Madrid's K Fund. He was also a data analyst at