Bynd Enterprise Capital, an Iberian-focused enterprise capital agency, has launched its third fund, valued at €40 million and backed by notable traders, together with the Spanish fund of funds Fond-ICO, the Portuguese industrial group Nors, Caixa Capital, in addition to household workplaces and personal traders from Spain and Portugal.
Recognized for its dedication to the regional innovation ecosystem, Bynd goals to spend money on roughly 40 early-stage know-how startups in Spain and Portugal, specializing in synthetic intelligence (AI), software program, client items, and sustainability know-how. The fund has a ten-year cycle, which incorporates 4 years of lively funding and 6 years devoted to portfolio consolidation and facilitating exits.
The launch of Fund III aligns with Bynd’s 15-year observe file in enterprise capital and its technique to empower Iberian startups with the sources wanted to scale globally. Santiago Salazar, chairman of Bynd Enterprise Capital, mentioned: “This new fund highlights Bynd’s long-term dedication to the innovation ecosystem within the Iberian Peninsula, which started in 2010 with the launch of our Enterprise Angels car and was later strengthened in 2015 with the inspiration of our Enterprise Capital agency. This third fund goals to proceed our mission of supporting entrepreneurs with the ambition to arrange international corporations from Portugal and Spain. The expertise and community of contacts now we have developed during the last years give us privileged entry to funding alternatives and the power to supply founders the instruments and information to scale their companies.”
Based in 2015, Bynd has positioned itself as a key participant within the regional enterprise capital panorama, with earlier funds supporting over 60 tech startups. This new fund has already accomplished three investments within the startups Equall, CircuitLeap, and Spot. Equall operates within the Authorized Tech sector, leveraging AI to develop software program for the authorized trade; CircuitLeap focuses on built-in circuit design and simulation; and Spot makes use of AI to automate processes in massive organisations.
Bynd VC additionally goals to drive optimistic international affect by way of its funding technique by monitoring environmental, social, and governance (ESG) metrics throughout its portfolio. Moreover, the fund will prioritise startups led by numerous founding groups, furthering its dedication to variety and sustainability throughout the tech sector.
Francisco Ferreira Pinto, companion at Bynd VC, mentioned: “After our first closing in Could, now we have been actively investing and plan to make round 40 investments over the following 4 years. This contains roughly 20 investments in pre-seed startups and one other 20 seed-stage corporations, with extra capital earmarked for follow-on rounds. We now have managed to draw new, extremely certified traders with diversified and skilled profiles, who’ve contributed to the fund’s growth and led to our group’s growth, demonstrating their confidence in Bynd’s work.”
Bynd’s Fund III reinforces the agency’s place as a number one enterprise capital entity in Iberia, leveraging its in depth community to supply portfolio corporations entry to a platform of over 400 companions and 70 lively founders. This construction allows Bynd to offer shut help, serving to startups navigate the challenges of early-stage progress and positioning them for long-term success.
