GED Capital raises €20m for first VC fund

The senior executive team of Conexo Ventures is composed of three partners with extensive experience in venture capital investment: Joaquim Hierro, Isaac de la Peña and Damien Balsan. They will take an active participation in the strategy of the investee startups and will be involved in the management together with the companies’ founders.

Investors
The fund raised capital primarily from Spanish and Portuguese and family offices and institutional investors, including pension funds such as Mutualidad de la Abogacía. In addition, both GED and the management team made significant commitments to the vehicle.

Investments
Conexo Ventures I plans to make 20 investments of around €2m, of which approximately 50% will be follow-up transactions.

The vehicle targets series-A rounds in Iberian startups which develop disruptive software - preferably using AI - with a scalable business models, operating in the cybersecurity, payments and marketplace, finance and insurance, legal and administration and travel and accommodation sectors.

The fund has already made three investments in BNext, a marketplace for financial, insurance and travel-related products; Buguroo, a cybersecurity and anti-fraud specialist; and Kushki, an online payment platform which uses artificial intelligence.

People
Conexo Ventures - Joaquim Hierro (managing partner); Isaac de la Peña, Damien Balsan (partners).

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