Bynd Venture Capital, an Iberian-focused venture capital firm, has launched its third fund, valued at €40 million and backed by notable investors, including the Spanish fund of funds Fond-ICO, the Portuguese industrial group Nors, Caixa Capital, as well as family offices and private investors from Spain and Portugal.
Known for its commitment to the regional innovation ecosystem, Bynd aims to invest in approximately 40 early-stage technology startups in Spain and Portugal, focusing on artificial intelligence (AI), software, consumer goods, and sustainability technology. The fund has a ten-year cycle, which includes four years of active investment and six years dedicated to portfolio consolidation and facilitating exits.
The launch of Fund III aligns with Bynd’s 15-year track record in venture capital and its strategy to empower Iberian startups with the resources needed to scale globally. Santiago Salazar, chairman of Bynd Venture Capital, said: “This new fund highlights Bynd’s long-term commitment to the innovation ecosystem in the Iberian Peninsula, which began in 2010 with the launch of our Business Angels vehicle and was later reinforced in 2015 with the foundation of our Venture Capital firm. This third fund aims to continue our mission of supporting entrepreneurs with the ambition to set up global companies from Portugal and Spain. The experience and network of contacts we have developed over the last years give us privileged access to investment opportunities and the ability to offer founders the tools and knowledge to scale their businesses.”
Founded in 2015, Bynd has positioned itself as a key player in the regional venture capital landscape, with previous funds supporting over 60 tech startups. This new fund has already completed three investments in the startups Equall, CircuitLeap, and Spot. Equall operates in the Legal Tech sector, leveraging AI to develop software for the legal industry; CircuitLeap focuses on integrated circuit design and simulation; and Spot uses AI to automate processes in large organisations.
Bynd VC also aims to drive positive global impact through its investment strategy by tracking environmental, social, and governance (ESG) metrics across its portfolio. Additionally, the fund will prioritise startups led by diverse founding teams, furthering its commitment to diversity and sustainability within the tech sector.
Francisco Ferreira Pinto, partner at Bynd VC, said: “After our first closing in May, we have been actively investing and plan to make around 40 investments over the next four years. This includes approximately 20 investments in pre-seed startups and another 20 seed-stage companies, with additional capital earmarked for follow-on rounds. We have managed to attract new, highly qualified investors with diversified and experienced profiles, who have contributed to the fund’s development and led to our team’s expansion, demonstrating their confidence in Bynd’s work.”
Bynd’s Fund III reinforces the firm’s position as a leading venture capital entity in Iberia, leveraging its extensive network to offer portfolio companies access to a platform of over 400 partners and 70 active founders. This structure enables Bynd to provide close support, helping startups navigate the challenges of early-stage growth and positioning them for long-term success.
Read the orginal article: https://www.eu-startups.com/2024/11/lisbon-based-bynd-launches-a-e40-million-fund-to-invest-in-iberian-tech-startups/
