Investor

Stellum Capital

stellumcapital.com ↗ ·San Sebastián ·Early stage ·Actively investing

Stellum Capital is an independent Spanish private equity and venture capital fund manager based in the Basque Country, owned by Artizarra Fundazioa (a foundation created by Basque and Navarre entrepreneurs). It runs several investment vehicles with roughly €250M in assets under management: Stellum Growth and Stellum Food & Tech (private equity for established SMEs, the latter focused on the food and beverage value chain) and Easo Ventures (its early-stage venture capital arm, sector-agnostic except real estate).

Portfolio

Team

AUM

~€310M

Rounds

Cheque

€50K–1M

SectorsGeneralist (all sectors except real estate) VC MapSeed

Profile updated 18 Jul 2026

Team

Partners 4 Investment Team 7 Others 0

Jon Blázquez

Venture Partner, Easo Ventures

Pablo Baroja

Managing Partner, Stellum Growth

Pablo Echart

Partner and CEO of the Management Company

Pedro Muñoz-Baroja

Managing Partner, Easo Ventures

Portfolio companies 14

Company Seed Vitoria-Gasteiz

BeGas Motor

begasmotor.com

Company Series B Madrid

Comercial Hostelera

comercialhostelera.com

Company Other San Sebastián

Coover

cooverpack.com

Company Other Viana

EPER Metallic Solutions

epersl.com

Company Other Cintruénigo

Laboratorios Bilper

laboratoriosbilper.com

Company Other Zamudio

LEV2050

lev2050.com

Company Other Mutilva

Modfie

modfie.com

Company Seed San Sebastián

Company Seed San Sebastián

Company Other Errenteria

USA Group

usagroup.es

Company Other Mallabia

Funding rounds 4

Basquevolt · Other · €10M

The Basque solid-state battery developer secured an additional financing of nearly €10 million from Ekarpen, Stellum and CDTI Innvierte to k…

2025-03-13

BeGas · Other · €18M

BeGas, a Basque manufacturer of engines for industrial vehicles running 100% on BioAutogas, closed an €18M capital increase with Stellum Gro…

2024-12-30

BeGas · Other · €18M

BeGas, a Basque manufacturer of engines for industrial vehicles running 100% on BioAutogas, closed an €18M capital increase with Stellum Gro…

2024-12-30

Urkabe Benetan · Other

Private-equity manager Stellum Capital, through its Stellum Food&Tech I vehicle, took a c.31.5% minority stake in Urkabe Benetan mainly via …

2024-07-04

News & media 12

Published	Article
2026-07-20	Nace el fondo EZTEN II y realiza su primera inversión en Walter Pack ↗ El Referente
2026-07-16	EZTEN II, nuevo fondo dotado con €50M, se estrena invirtiendo en Walter Pack en una ronda liderada por Stellum ↗ Webcapitalriesgo
2026-07-14	El Gobierno vasco estrena el nuevo fondo Ezten en la vizcaína Walter Pack ↗ El Español (Crónica Vasca)
2026-05-18	Aiblu, particiada de Stellum Growth, adquiere la plataforma tecnológica Complylaw ↗ El Español (Crónica Vasca)
2026-03-16	Aiblu adquiere la catalana AT Group para reforzarse en protección de datos y seguridad de la información ↗ Estrategia Empresarial
2026-01-07	Tecnimoen Care, participada de Stellum Growth, adquiere la compañía vasca Ugari para fortalecer su posicionamiento en el sector sociosanitario ↗ El Economista
2025-11-03	Stellum compra los laboratorios vizcaínos Bilper para impulsar su crecimiento internacional ↗ Forbes España
2025-07-11	EPER Metallic Solutions, backed by Stellum Growth, acquires the Galician company Codesal ↗ Capital-Riesgo.es
2025-05-19	Muñoz-Baroja (Easo Ventures): "Quien vende su empresa agradece poder reinvertir ese dinero aquí" ↗ El Español (Crónica Vasca)
2025-03-25	Sodena y Stellum Capital coinvertirán en las 'startups' navarras aceleradas por BerriUp ↗ Navarra Capital
2024-12-10	BeePlanet levanta una ronda de 5 millones de euros con la incorporación de Santander Climate Fund y Easo Ventures ↗ El Referente
2024-04-02	LEV 2050 impulsa su expansión dando entrada a Stellum Capital e Inveready ↗ Alimarket