Inveready has finished the fundraising period for its new technology fund, First III, putting together a total of €54 million, nine more than the original goal, in just six months.

This fund will allow the firm to continue investing in technology-based start-ups with a high component of innovation (biotechnology, artificial intelligence, big data, Internet of Things, cybersecurity, etc.). Occasionally, it will also invest in B2C projects with potential for growth.

Ignacio Fonts, managing partner at Inveready, explains that the new fund “will help us diversify our portfolio and accompany our participated companies in later rounds of funding.”

With this move, Inveready now manages €270 million in investment, making it one of the main venture capital firms in Spain. Furthermore, the firm has announced it expects to have a new venture debtvehicle set up before the end of the year.

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Photo: From left to right, Inveready partners Josep Maria Echarri, Carlos Conti, Roger Piqué and Ignacio Fonts - © Inveready