Cabiedes unveils €25m angel fund
Cabiedes & Partners has announced a first close of its €25m angel fund, which will invest in internet start-ups in Spain.
The vehicle plans to make ten investments per year, reserving a "significant" proportion of its capital for follow-on rounds. It will invest mainly in seed financing rounds but will also consider co-investing in series-A, B, C and D rounds.
Cabiedes' LPs include Neotec Capital Riesgo, news agency Europa Press Group, the FESpyme fund, managed by Axis, pension fund Itzarri EPSV, Bertelsmann Digital Media Investments and Corpfin Capital.
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