Seaya, Big Sur Ventures, Enzo Ventures and Masia unveil new Spanish venture funds

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Spanish venture managers spent the week raising money to hand to other people. Seaya is launching Nova, a €600 million technology vehicle backed by the European Investment Fund, which will put €20 million to €50 million into each company. Big Sur Ventures has a €100 million fund for seed-stage deeptech start-ups and expects a portfolio of 20 to 25. Enzo Ventures' second fund, aimed at pre-seed, is €20 million, twice the size of its first. Barcelona's Masia has closed its first fund at €18 million for early-stage AI and frontier technology, has already backed 45 start-ups and plans 20 more deals between this year and next. It also has a new office.

Elsewhere, Mutua Madrileña has invested in Alter5. SWI plans to spend €500 million on Nvidia chips for a Madrid data centre and has agreed to lease 13 MW from Templus in Alcalá de Henares. Residential solar installer Eltex Solar is going into liquidation, with all 57 employees let go.

For scale, TTR Data counted 2,261 M&A deals in Spain in the first nine months of 2026, worth €73.8 billion together, with real estate the most active sector at 510. The advisers are not exempt from the activity: law firm Pérez-Llorca has hired Alantra to raise €100 million of debt, to repay what it currently owes and fund its growth.