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Extra Crunch Friday: Spain's startup ecosystem: 9 investors on remote work, green shoots and 2020 trends

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Friday, October 02, 2020 By Walter Thompson

Welcome to Extra Crunch Friday

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Image Credits: MarioGuti / Getty Images

In the conclusion to a comprehensive survey that polled investors who focus on Madrid and Barcelona, Editor-at-large Mike Butcher gathered thoughts from nine VCs:

  • Lourdes Álvarez de Toledo, partner, JME Ventures
  • Javier González-Soria y Moreno de la Santa, managing partner, Top Seeds Lab
  • Joaquín Sanz Berrioategortua, partner, Kereon Partners
  • Samuel Gil, partner, JME Ventures
  • Josep Guitart Pardellans, associate, Sabadell Venture Capital
  • Miguel Arias, Wayra
  • Carlos Sabater Navarrete, VAS Ventures
  • Mathieu Carenzo, founding partner, Venture Hub
  • Giovanni Bologna, associate, Athos Capital

From my perspective in San Francisco, these regional investor surveys are particularly interesting; they’re my best glimpse into conversations that are taking place far outside my bubble.

A few takeaways:

  • Most VCs were pessimistic about the travel sector and a few suggested that fintech and D2C may be oversaturated.
  • “Spain has no Series B investors, so there are many opportunities for foreign Series B funds.”
  • Capital efficiency is key: nearly all advised founders to watch their cash flows carefully.

Mike is working on additional European investor surveys; if you’d like to participate, please let him know how he can reach you.


This week marked my one-year anniversary with TechCrunch! Thank you very much to everyone on the staff — you’re a smart, funny, hard-working group of people and it’s a pleasure to work with you.

And thanks to all of you for reading Extra Crunch; have a great weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

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