Kibo Ventures announced the launch of Kibo Ventures Fund IV, a €120 million fund aimed at financing European technology start-ups with global ambition. The first closing, reached in just six months, exceeds 100 million euros and brings together institutional, corporate and family office investors.
According to the Spanish newspaper Expansionamong the investors that stand out is José de Mello Capital, the holding which manages the investment portfolio and financial strategy of the vast José de Mello Group, one of the largest and oldest business groups in Portugal, whose involvement underlines the strengthening of Portuguese interest in technology deep tech.
Alongside José de Mello Capital, BBVA Spark (BBVA’s business unit focused on supporting growing technology companies and investment funds) entered the fund. venture capital)CDTI Innvierte, one of the founding families of Spanish Mahou. The European Investment Fund and several founders of the Kibo portfolio also renewed their commitment.
With this vehicle, the manager exceeds 500 million euros under management, consolidating itself as a relevant option for technological risk capital in Europe.
Fund IV will focus on rounds of seed and series A, leading typical investments in the order of five million euros and reserving 40% of the capital for follow‑onwith a pan-European strategy that supports companies in areas such as deep techdata, AI infrastructure, cybersecurity, robotics, physical AI and vertical applications including defense and space.
The fund has already completed two emblematic operations, by leading a round of 21 million dollars (around 17.9 million euros) in Theker, dedicated to autonomous robotics for complex industrial environments, and by investing in AnyFormat, a document platform based on generative AI founded by former Clarity.ai engineers.