Stellum Capital

Also invests via: Easo Ventures
stellumcapital.com ↗ ·San Sebastián ·Invests Pre-seed – Series A

Stellum Capital is an independent private equity and venture capital manager based in San Sebastián, with offices in Bilbao and Pamplona. It is owned by Artizarra Fundazioa, a foundation set up by business owners from the Basque Country and Navarre, and manages about €310M across three strategies. Stellum Growth takes minority and majority stakes in mid-market companies, with tickets of about €5–20M. Stellum Food & Tech invests in SMEs across the food value chain, and Easo Ventures invests from Pre-Seed to Series A in Spanish start-ups in every sector except real estate, with tickets of €100K–1M plus €50K accelerator cheques through BerriUp. Its venture portfolio has more than 60 companies, including Multiverse Computing, Iomed, Ironchip, Zinklar, VIVEbiotech and Ojer Pharma, and its growth investments include Coover, Uvesco and Laboratorios Bilper.

SectorsGeneralist, Deep Tech, Health & Biotech, Food & AgTech, Industrial, Consumer, Fintech VC MapSeed

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Team

Pablo Echart
Partner and CEO of the Management Company
Pedro Muñoz-Baroja
Managing Partner
Also at Easo Ventures
+1
David Martinez Gutierrez
Managing Partner
Pablo Baroja
Managing Partner, Stellum Growth
Jon Blázquez
Venture Partner

Portfolio companies 5

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Funding rounds 3

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DateCompanyRoundAmountLead

Often invests with 7

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PublishedArticle
2026-10-26 Stellum Growth leads a capital increase in Walter Pack alongside EZTEN II and the Provincial Council of Bizkaia ↗
Capital-Riesgo.es
2026-10-26
2026-07-20 Nace el fondo EZTEN II y realiza su primera inversión en Walter Pack ↗
El Referente
2026-07-20
2026-07-14 El Gobierno vasco estrena el nuevo fondo Ezten en la vizcaína Walter Pack ↗
2026-05-19 Overgie acquires Berrly, a Stellum Capital's portfolio company, to create a unified fan management platform ↗
Capital-Riesgo.es
2026-05-19
2026-05-18 Aiblu, particiada de Stellum Growth, adquiere la plataforma tecnológica Complylaw ↗
El Español (Crónica Vasca)
2026-05-18
2026-03-16 AIBLU, a portfolio company of Stellum Growth, acquires the Catalan company AT Group ↗
2026-01-10 Grupo Empresarial Enhol and Stellum Food&Tech I join Huerta de Peralta to support growth and professionalization ↗
Capital-Riesgo.es
2026-01-10
2026-01-07 Tecnimoen Care, participada de Stellum Growth, adquiere la compañía vasca Ugari para fortalecer su posicionamiento en el sector sociosanitario ↗
El Economista
2026-01-07
2025-12-24 PAI Partners enters into an agreement for the sale of Uvesco ↗
PAI Partners (press release)
2025-12-24
2025-11-03 Stellum Growth acquires a majority stake in Laboratorios Bilper to boost its international growth ↗
Capital-Riesgo.es
2025-11-03
2025-11-03 Stellum compra los laboratorios vizcaínos Bilper para impulsar su crecimiento internacional ↗
Forbes España
2025-11-03
2025-07-11 EPER Metallic Solutions, backed by Stellum Growth, acquires the Galician company Codesal ↗
Capital-Riesgo.es
2025-07-11
2025-05-19 Muñoz-Baroja (Easo Ventures): "Quien vende su empresa agradece poder reinvertir ese dinero aquí" ↗
El Español (Crónica Vasca)
2025-05-19
2025-03-25 Sodena y Stellum Capital coinvertirán en las 'startups' navarras aceleradas por BerriUp ↗
Navarra Capital
2025-03-25
2024-12-10 BeePlanet levanta una ronda de 5 millones de euros con la incorporación de Santander Climate Fund y Easo Ventures ↗
El Referente
2024-12-10
2024-07-09 Spanish ham business Urkabe Benetan backed by fund ↗
Just Food
2024-07-09
2024-04-02 LEV 2050 impulsa su expansión dando entrada a Stellum Capital e Inveready ↗
Alimarket
2024-04-02
2023-10-09 Stellum Capital invests more than 25 million euros in 7 companies from Navarra ↗
Invest in Navarra
2023-10-09
2023-06-17 Stellum Capital invertirá más de €200 millones en empresas con alto potencial de crecimiento ↗
Capital-Riesgo.es
2023-06-17
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