Investor

Alter Capital

altercapital.es ↗ ·Sevilla ·Multi stage ·Actively investing

Independent venture capital fund manager based in Sevilla, Spain, specializing in growth capital and buyout investments in the Spanish lower middle market. It backs consolidated SMEs with proven track records (typically €1-15M EBITDA) across all sectors except financial services and real estate, supporting internationalization, consolidation, and operational improvement. Founded in 2000, it is the only venture capital manager headquartered in Andalusia, with additional offices in Madrid and Málaga.

Portfolio

Team

AUM

~€70M

Rounds

Cheque

€1-7M (up to €30-40M for larger deal-by-deal transactions)

SectorsSector-agnostic (excludes financial services and real estate) VC MapSeries C+

Profile updated 18 Jul 2026

Team

Partners 2 Investment Team 8 Others 1

Juan Martínez de Tejada

Partner

—

Ángel González

Partner

Portfolio companies 8

Clever Global

www.clever-global.com

Company Other Sevilla

Dental Company

dentalcompany.es

Company Other Sevilla

El Tortillón

eltortillon.com

Company Other Sevilla

Kampaoh

es.kampaoh.com

Company Series B Sevilla

Trending Corporate

trendingcorporate.com

Company Other Bollullos de la Mitación

Tu Super Purchase

supermercadostusuper.com

Company Other Granada

Company Series A Sevilla

Funding rounds 7

Kampaoh · Other · €4M

Kampaoh closed a €4M capital increase co-led by existing shareholders Alter Capital and Axon Partners Group, who took control of the company…

2026-06-06

Wifit Gyms · Other · €2.5M

Spanish private equity firm Alter Capital Desarrollo subscribed a new capital increase in the low-cost gym chain, lifting its stake from min…

2025-06-24

Wifit Gyms · Other · €2.5M

Alter Capital Desarrollo entered Wifit Gyms as a minority shareholder in its first fitness-sector deal, backing the chain's expansion across…

2024-06-12

Trending Corporate · Other · €3M

Seville-based fund manager Alter Capital subscribed a minority growth stake of 10% in Trending Corporate for about €3M, investing through Al…

2023-11

Kampaoh · Other · €14M

Seville-based glamping chain Kampaoh secured €14 million in a mixed operation to fund its expansion across southern Europe: €12.5 million of…

2023-01-13

Wuolah · Series A · €5M

Wuolah, the Seville edtech where university students share and monetise class notes, raised €5M (reported as $5.6M by some outlets) in a rou…

2022-02-24

Kampaoh · Series A · €5M

Kampaoh's second and first institutional round, with Axon Partners Group (through Corporación Bética de Expansión Empresarial), JME Ventures…

2021-12-23

News & media 7

Published	Article
2026-06-25	Metric Capital Partners takes control of Dental Company alongside Alter Capital and its CEO ↗ El Democrata (English)
2026-06-10	Alter Capital and Quadriga achieve the highest score in the proposed award of Andalucía TRADE's new venture capital funds for expanding companies ↗ Capital-Riesgo.es (English)
2025-07-08	El fondo andaluz Alter compra la mayoría de Vilagallo y el resto se lo reparten el futbolista Marcos Alonso y sus directivas ↗ El Español (Invertia)
2025-07-05	Alter Capital busca empresas sin relevo generacional para invertir hasta 35 millones en cada operación ↗ El Conciso
2025-06-25	Alter Capital toma el control de los gimnasios Wifit Gyms ↗ El Economista
2025-04-23	La gestora de fondos andaluza Alter Capital cumple 10 años con 80 millones de euros invertidos en pymes ↗ El Conciso
2024-06-08	Alter Capital entra en Wifit Gyms en plena fiebre del 'fitness' ↗ El Economista