Telefónica launches VC arm in Spain

The VC arm will operate in Spain and be responsible for all the firm's venture capital operations in the country.

Telefónica's current VC arm, Telefónica Ventures, has offices in Madrid, Silicon Valley and London. Telefónica Digital Venture Capital will take over operations in Spain.

Telefónica invests in European and US digital companies, with a particular focus on communication. Portfolio companies include Tuenti, a social network in Spain acquired from Qualitas Equity Partners for around €35m in 2010. The firm has recently invested a reported $5m as part of a $35m funding round for US mobile payments firm Boku.

The Telefónica Digital Venture Capital board includes Carlos Domingos, president of Telefónica's research and development company, and Antonio Marti, the group CFO.

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• Topics
• Southern Europe
• Technology
• Spain
• Venture