Investor

Istria Capital

istriacapital.com ↗ ·Madrid ·Multi stage ·Actively investing

Istria Capital is Europe's leading fund of search funds, backing first-time entrepreneurs ("searchers") to acquire and grow small and medium-sized businesses across Europe, North America and Latin America. It is industry-agnostic, having backed 120+ search funds and 40+ operating companies since 2016 in sectors like software, distribution, healthcare, manufacturing and services, deploying capital in two funds (Istria I: €20M, Istria II: €50M).

Portfolio

Team

AUM

€70M

Rounds

Cheque

~€70K per search fund (search phase), ~€1.2M average per acquisition

SectorsSoftware, Distribution, Healthcare, Manufacturing, Services, Industry-agnostic VC MapSeries C+

Profile updated 17 Jul 2026

Team

Partners 6 Investment Team 0 Others 1

Andrea Taurelli Salimbeni

Vice President

Ignacio Olavarría

Co-founder and Partner

Lenka Kolarova

Vice President

Nicolas Fernandez de Cuevas

Vice President

Richard Haymerle

Vice President

Simón Bores

Co-founder and Partner

Portfolio companies 4

Company Other Terrassa

Company Other Granollers

Funding rounds

No announced rounds on record.

News & media 9

Published	Article
2026-05-18	Stanford's 2026 Search Fund Primer is out. Three domains where it stops working for Europe. ↗ Buyout Diary
2026-03-19	Another successful exit in Poland: MotionVFX sold to Apple ↗ Search Funds News
2025-12-15	Soris Capital Partners and Ethos Partners sell Water Direct to Eurazeo ↗ Search Funds News
2025-06-26	Istria Capital: Year in Review 2024 ↗ Istria Capital
2024-09-26	Istria closes oversubscribed fund II at €50M ↗ Search Funds News
2024-09-01	Investors in Baluarte Capital achieved one of their most successful returns by exiting CTAIMA ↗ Search Funds News
2024-05-14	Water Direct: one searcher's thirst for returns. 2 Olympic pools' worth of drinking water & 40% EBITDA ↗ Rollup Europe
2024-03-22	Istria Capital engaged in 26 SFs and 12 acquisitions in 2023 ↗ Search Funds News
2024-02-22	Ayete Partners encandila a Aurica, JB46, Istria y otros inversores para encontrar la 'mejor' pyme de España ↗ El Español (Invertia)