Seaya Ventures III holds €85m first close

The fund has a €125m target, slightly larger than its predecessor,  Seaya Ventures II, which closed on €102m in July 2018.

Seaya's first two funds delivered above-market returns, ranking among the top-quartile of their respective vintages, according to the firm.

Since its inception in 2013, Seaya has invested in 26 tech companies, including Cabify and Glovo. The firm led the first institutional rounds in both companies and remains their largest financial shareholder.

Other investments Seaya has made include in Savana, a company specialising in electronic health records; Wallbox, a designer, manufacturer and distributor of smart charging solutions for electric vehicles; and cybersecurity company Buguroo.

Seaya's aggregate portfolio is currently worth more than €3bn. The firm has €250m in assets under management.

Investors
The fund has attracted an international investor base, which includes institutional LPs and family offices. Around 90% of the commitments in the first closing came from investors in Seaya's previous vehicles. 

Investments
Seaya Ventures III targets technology companies based across southern Europe, with the aim of supporting their growth and boosting their international expansion.

The fund invests in leading series-A and -B rounds, deploying up to €20m per company through several investments.

Seaya Ventures III will have a special focus on "deep-tech" companies, as well as technology companies in the areas of health, education and financial services.

The fund has already completed its first transaction, leading a series-A round in a European technology company that uses computer vision and artificial intelligence. The new investment will be officially announced in the next few weeks.

People
Seaya Ventures – Beatriz González (founding partner).

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