Kampaoh — Buyout · €4M

Kampaoh closed a €4M capital increase co-led by existing shareholders Alter Capital and Axon Partners Group, who took control of the company and its board alongside founder Salvador Lora. It was a recapitalisation rather than a growth round: it followed months of liquidity tension, a pre-insolvency (preconcurso de acreedores) filed in late 2025 and the partial capitalisation of around €12M of internal debt, and it displaced the previous VC syndicate (JME Ventures, Encomenda, Eutopia) from control; the restructured company is refocusing on Spain and Portugal with ~70 sites and a €30M sales target. No stage was named in the press; the day of announcement is taken from El Conciso's report of early June 2026.