Bilbao-based VC Acurio Ventures, formerly known as All Iron Ventures and managing €300 million in assets, has raised €150 million for Acurio Ventures III. This fund aims to support around 50 early-stage European startups, primarily in seed and Series A rounds.
- Founded in 2018 by Ander Michelena, Acurio Ventures is a venture capital firm that invests directly in European startups and European VC funds. Since its inception, the firm's portfolio consists of more than 90 startups, including Lingokids, Preply, Refurbed, Seedtag, Jobandtalent, and Indexa and 15 European VC funds
- With offices in Madrid, Bilbao, London, and Barcelona, the management firm employs a team of 12. Following the announcement of the recent fund, the firm rebranded and changed its name from All Iron Ventures to Acurio Ventures.
- With the Acurio Ventures III fund, the firm will continue to act primarily as a co-investor, aiming to invest in 50 early-stage European companies and acquire equity stakes of between three and ten percent. The new fund also provides greater flexibility to access companies, manage follow-on investment reserves, and undertake divestments.
"We are very grateful for the trust placed in us by investors, both those who have supported us in the past and new ones. There is no better recognition of our track record over the last six years than to have their backing, particularly at this delicate time in the market with respect to fundraising," Founder and partner of Acurio Ventures, Ander Michelena, stated in a press release.
- To date, the third fund has invested approximately €40 million in 20 Spanish and international startups, several of which have already secured follow-on rounds.
- The fund is supported by a prestigious US university endowment, insurance companies, pension plans, large corporates, 35 family offices, and a group of technology entrepreneurs and executives.
