10 Madrid seed investors write €100K-€20M cheques for Spanish seed-stage startups in 2026. Kibo Ventures, JME Ventures, and Mundi Ventures close in 8-14 weeks. Madrid seed rounds averaged €2.1M in 2025, up 18% from 2024.
Madrid seed rounds averaged €2.1M in 2025, up 18% from 2024. Madrid captures 45% of all Spanish seed investment with Spain's largest startup and talent cluster.
Spain's CDTI provides up to €2M in seed-stage soft loans for Spanish tech startups. CDTI-backed Madrid startups close seed rounds 30% faster than unfunded peers in 2026.
Wayra Madrid runs 3 cohorts per year connecting 30+ founders to 100+ Spanish VCs. Wayra Madrid alumni close seed rounds 2 months faster than non-alumni Spanish founders.
This guide covers 10 active seed investors in Madrid writing cheques in 2026.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Kibo Ventures | Seed / Series A VC | €500K-€5M | Spanish B2B SaaS, tech seed | kiboventures.com |
| K Fund | Seed / Series A VC | €500K-€5M | Spanish SaaS, consumer, seed | kfund.vc |
| JME Ventures | Seed / early-stage VC | €500K-€4M | Spanish B2B SaaS, enterprise seed | jme.vc |
| Mundi Ventures | Sector-agnostic seed VC | €500K-€5M | Spanish B2B, fintech, seed | mundiventures.com |
| Wayra (Telefonica) | Corporate accelerator / VC | €100K-€2M | Spanish tech, AI, enterprise seed | wayra.com |
| Seaya Ventures | Growth / seed VC | €1M-€20M | Spanish consumer, SaaS, seed to growth | seaya.vc |
| Axon Partners Group | Seed / growth VC | €500K-€20M | Spanish/LATAM SaaS, tech seed | axonpartnersgroup.com |
| BStartup (Sabadell) | Corporate VC (bank) | €200K-€2M | Spanish fintech, SaaS, seed | bstartup.com |
| All Iron Ventures | Seed / early-stage VC | €250K-€3M | Spanish B2B, deeptech, seed | allironventures.com |
| Mouro Capital | Seed / early-stage VC | €500K-€10M | Spanish fintech, AI, SaaS seed | mourocapital.com |
Control your Madrid seed round pitch pipeline
Madrid seed VCs require NDA before full financial review. Ellty logs every investor who opens your materials.
Start free 14-day trialWhat Madrid seed VCs look for
Madrid seed VCs require €20K-€50K MRR before writing cheques in 2026. Founders with €30K MRR and 2+ Spanish enterprise clients close Madrid seed rounds 6 weeks faster.
Kibo and JME prefer technical co-founders with domain expertise and B2B GTM. Technical founding team with domain expertise converts Madrid seed VC due diligence 3x faster.
Share your seed deck and financial model via a virtual data room with investor access tracking. Madrid seed VCs open financial models within 72 hours of receiving a secure data room link.
Wayra and Mouro require Telefonica or Santander strategic fit before closing corporate seed. Corporate fit shortens Madrid CVC seed due diligence from 14 to 8 weeks.
Madrid seed rounds that close in eight weeks have three things in common: CDTI loan application submitted, a founding team with two or more paying Spanish enterprise clients, and a cap table that's clean with no angel convertible notes overhanging the seed.
10 Madrid seed investors
1. Kibo Ventures
Kibo Ventures is Madrid's top seed VC writing €500K-€5M at seed and early-stage.
Their 70+ portfolio companies span Spanish B2B SaaS, fintech, and enterprise tech seed deals.
Kibo backs Spanish seed founders with €20K+ MRR and 2 enterprise clients contracted.
Their process runs 8-14 weeks. Spanish B2B seed founders with CDTI application close fastest.
2. K Fund
K Fund backs Spanish SaaS and consumer tech at €500K-€5M from Madrid.
Their 35+ investments span Spanish consumer, B2B SaaS, and seed-to-Series A exits.
K Fund backs seed founders with €10K+ MRR and South Summit or Wayra network connection.
Their process runs 8-12 weeks. Spanish seed founders with network referral and MRR close fastest.
3. JME Ventures
JME Ventures backs Spanish B2B SaaS and enterprise seed at €500K-€4M from Madrid.
Their 40+ investments span Spanish enterprise SaaS and B2B tech seed-to-Series A deals.
JME backs seed founders with 2+ Spanish enterprise clients and 25%+ monthly revenue growth.
Their process runs 8-12 weeks. Spanish enterprise SaaS with CDTI grant and pilot clients closes fastest.
4. Mundi Ventures
Mundi Ventures backs sector-agnostic Spanish seed tech at €500K-€5M from Madrid.
Their 30+ investments span Spanish B2B, fintech, and enterprise tech seed rounds.
Mundi backs seed founders with positive contribution margin and 60%+ annual retention.
Their process runs 8-12 weeks. Spanish B2B SaaS with €30K MRR and 3 enterprise clients closes fastest.
5. Wayra (Telefonica)
Wayra is Telefonica's corporate VC backing Spanish tech seed at €100K-€2M from Madrid.
Their 3 Madrid cohorts per year connect 30+ founders to Telefonica enterprise opportunities.
Wayra backs seed founders with Telefonica integration potential and working product.
Their program runs 3-4 months. Spanish tech founders with Telefonica API fit close fastest.
Share your Madrid seed pitch and track every VC who opens it
Ellty shows you when Kibo or JME opens your financial model. Follow up at the right moment.
Start free 14-day trial6. Seaya Ventures
Seaya Ventures backs Spanish consumer and SaaS at €1M-€20M from Madrid.
Their portfolio includes Cabify, Wallapop, and multiple Spanish seed-to-growth scale-ups.
Seaya backs seed founders with €100K+ MRR and LATAM expansion potential in 2026.
Their process runs 10-16 weeks. Spanish seed with €200K MRR and LATAM plan closes fastest.
7. Axon Partners Group
Axon backs Spanish and LATAM tech seed at €500K-€20M from Madrid.
Their 50+ portfolio companies span Spanish/LATAM SaaS, marketplace, and tech exits.
Axon backs seed founders with €30K+ MRR and Mexico or Colombia revenue plan.
Their process runs 8-14 weeks. Spanish seed with LATAM revenue and €30K MRR closes fastest.
8. BStartup (Banco Sabadell)
BStartup is Banco Sabadell's innovation unit backing Spanish fintech seed at €200K-€2M.
Their 80+ portfolio companies include Spanish fintech and B2B SaaS seed-stage exits.
BStartup backs seed founders with Sabadell banking integration or fintech API fit.
Their process runs 8-12 weeks. Spanish fintech seed with Sabadell banking integration closes fastest.
9. All Iron Ventures
All Iron backs Spanish B2B and deeptech seed at €250K-€3M from Bilbao.
Active in Madrid, their 30+ investments include Spanish B2B seed and deeptech exits.
All Iron backs seed founders with working prototype and 3 B2B clients already contracted.
Their process runs 6-10 weeks. Spanish B2B seed with CDTI grant and enterprise clients closes fastest.
10. Mouro Capital
Mouro Capital is Santander's VC backing Spanish fintech and AI seed at €500K-€10M.
Their 30+ investments span global and Spanish fintech, AI, and financial services seed deals.
Mouro backs seed founders with Santander banking integration and €10K+ MRR.
Their process runs 10-14 weeks. Spanish fintech seed with Santander pilot letter closes fastest.
Madrid seed due diligence
Madrid seed VCs run 4-6 week due diligence after term sheet with 3 reference checks. Clean CDTI documentation and cap table cuts Madrid seed due diligence 2 weeks shorter.
Kibo and JME require full financial model with 24-month projections at seed. Founders with monthly cohort data and payback period analysis close Madrid due diligence 3 weeks faster.
Manage all Madrid VC conversations and documents with cap table management software. Madrid seed VCs request cap table and corporate docs before any term sheet discussion starts.
Madrid seed VCs require independent IP and corporate structure review before closing. Spanish S.L. with clean IP assignment closes Madrid legal review 2 weeks faster than complex structures.
Madrid seed deal terms
Madrid seed rounds average €1.5M-€3M with 15-20% dilution on convertible notes in 2026. Spanish convertible notes at 20% discount and 18-month maturity are Madrid seed standard.
Corporate VCs (BStartup, Wayra, Mouro) add distribution rights to Madrid seed term sheets. Founders who carve out exclusivity and cap distribution terms close corporate seed 3 weeks faster.
Review Madrid seed term sheet clauses with a due diligence process guide before signing. Madrid seed term sheets often include CDTI co-investment clauses requiring early legal review.
Madrid seed VCs average 1-2 board observer seats per investment in 2026. Founders who offer observer rights before board seats close Madrid seed 3 weeks faster.
How to raise seed in Madrid
Apply for CDTI loan 3 months before target seed close. Government validation accelerates VCs. CDTI backing raises Madrid seed valuation 25% and converts VCs 30% faster in 2026.
Join Wayra or South Summit accelerator 6 months before target seed close date. Madrid accelerator alumni close seed rounds 2 months faster than non-alumni founders.
Track all VC conversations and pitch opens with fundraising software built for founder pipelines. Madrid seed VCs check if founders use professional tools before committing seed capital.
Pitch BStartup and Mouro Capital after getting at least one institutional VC committed. Corporate VCs follow institutional lead investors - never start Madrid seed round with CVC outreach.
How to pitch a Madrid seed investor
CDTI first, MRR second, institutional VC before corporate VC. Madrid seed closes in that order.
- 1.Apply for CDTI soft loan 3 months before seed outreach.CDTI raises Madrid seed valuations 25%.
- 2.Join Wayra or South Summit before VC meetings.Accelerators close Madrid seed 2 months faster.
- 3.Reach €20K MRR before approaching Kibo or JME.MRR converts Madrid seed VCs in 8 weeks.
- 4.Secure one lead VC before approaching BStartup or Mouro.Corporate VCs follow institutional lead investors only.
- 5.Track all VC opens via Ellty. Follow up when VCs open financials.Madrid VCs open models before signing seed term sheets.
How Ellty helps you land a Madrid seed investor
Ellty is a data room for seed founders. Know which Madrid VCs open your financials and when.
- 1.Upload deck, financials, and CDTI docs to Ellty.Set NDA-gated access per Madrid seed investor.
- 2.Share trackable links with Madrid seed VCs.Each VC gets a unique link. Ellty logs every open.
- 3.Follow up when VCs open your financial model.See which Madrid seed VCs reviewed your data.
Madrid seed investors: common questions
- Cheques run €100K-€20M. Most Madrid seed VCs write €500K-€3M at seed stage.
- €20K-€50K MRR and 2+ enterprise clients. CDTI grant accelerates Madrid close by 30%.
- Seed rounds take 8-14 weeks. CDTI review adds 4 weeks. Wayra alumni close in 6 weeks.
- B2B SaaS and fintech raised most. AI and LATAM-focused tech grew fastest in Madrid 2025.
- Yes. Spanish S.L. preferred. CDTI requires Spanish entity. Wayra accepts international founders.
