Samaipata, a pan-European venture capital firm established in Madrid in 2016, has initiated its third fund, targeting €110 million, focusing on AI-native startups in their early stages. The fund has achieved its first close at €70 million. The investor consortium for Fund III includes notable entities like Germany’s state development bank KfW, Spain’s SETT, and various prominent Spanish family offices. The initial close represents 64% of the target, indicative of strong support for the firm’s track record in marketplace and platform investments.
Co-founded by Eduardo Díez-Hochleitner and José del Barrio, Samaipata manages about €250 million in assets and has supported 44 startups across Europe. Del Barrio previously co-founded La Nevera Roja, a food delivery service sold to Rocket Internet, a noteworthy background in VC circles.
Fund III marks a strategic shift towards AI, transitioning from digital platforms with network effects to foundational AI systems built from scratch. Samaipata plans to invest in 25 to 30 companies, with potential allocations up to €10 million per startup. The firm’s emphasis is on B2B companies simplifying AI deployment in practical applications, from vertical AI solutions to enterprise tools.
The portfolio’s founders will gain access to industry experts from companies such as Anthropic, Google, Airbnb, Spotify, and N26, blending AI expertise with commercial insights.
Samaipata’s pan-European reach is crucial, with European AI startups often lagging behind their US counterparts due to regulatory and investment challenges. The involvement of KfW and SETT underscores the need for dedicated AI investment vehicles in Europe, aligning with broader continental efforts as AI development accelerates globally. The fund plans to expand its investor base as it moves toward its €110 million goal, though the timeline for the final close remains undisclosed.