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LP profile

AXIS

Fund of fund · Founded 1986 · Madrid, Spain

#1,050 LP Ranking #102 of 264 funds of funds

Investment arm of ICO, Spain's state-backed, public financial institution

87 VC firms backed
$10B AUM
01 · Background

Who AXIS is.

Historical Background
AXIS was established in 1986, making it one of Spain's most longstanding venture capital management firms. The firm is wholly owned by the Instituto de Crédito Oficial (ICO), the Spanish state-owned bank.
Source of Capital
Capital is sourced from its parent entity, the Instituto de Crédito Oficial (ICO). AXIS manages funds with a total capitalization of up to 12.15 billion euros.
Allocation Strategy
The firm operates as a private equity and venture capital manager, providing companies with capital and quasi-capital instruments. Investment activities are concentrated on Spanish companies, with a mandate to support growth, innovation, and international expansion. The strategy involves two primary approaches: direct investment in companies and projects, and indirect investment through other funds that, in turn, finance Spanish enterprises.
02 · Fund commitments

The funds AXIS backs.

AXIS is a limited partner in 87 funds. 1 of them place in the Power Law Investor Ranking; those lead, best-ranked first.

GP Bullhound
United Kingdom
#415 Power Law
4Founders Capital
Spain
A&G Energy Transition Tech Fund
Spain
A&G Global Investors
Spain
Abac Capital
Spain
Active Venture Partners
Spain
Actyus
Spain
Adara Ventures
Spain
Alantra
Spain
Alta Life Sciences
Spain
Alter Capital Desarrollo
Spain
Ambar Venture Capital
Spain
03 · Allocation

How AXIS’s fund book is spread.

The 87 funds AXIS backs, by where the manager is headquartered and how many funds that manager has raised.

Where those managers are based

By fund headquarters.

  • Europe 87100%

Spain 73 · France 5 · Luxembourg 2 · Portugal 2

How established those managers are

Managers grouped by how many funds they have raised — across the 63 of 87 with a fund history on record.

Emerging funds · 33
Established funds · 30
18 1
7 2
8 3
10 4
14 5-6
4 7-9
2 10-14
15+
Funds raised by the manager
05 · Direct investments

The companies AXIS backs directly.

AXIS holds 12 companies directly, separate from the funds it commits to as a limited partner.

Cabify
Transportation · Spain
$1.4B valuation Unicorn
Paack
Transportation · Spain
$880M valuation
Xoople
Food · Spain
$520M valuation
Deepull
Health · Spain
$220M valuation
Trucksters
Transportation · Spain
$145M valuation
Satlantis
Space · Spain
$73M valuation
Knowledge Development
Semiconductors · Spain
$16M valuation
Qilimanjaro Quantum Tech
Semiconductors · Spain
$57M valuation
Oncovision
Health · Spain
$6.3M valuation
galeneo
Health · Spain
$4.4M valuation
Jump Into Reality
Real Estate · Spain
$2.0M valuation
Avanza Externalización de Servicios
Fintech · Spain
06 · Portfolio market map

Inside AXIS’s portfolio.

The 12 highest-funded portfolio companies, of 10 tracked.

Cabify
Transportation · Unicorn
$1.4B
Paack
Transportation
$880M
Xoople
Food
$520M
Deepull
Health
$220M
Trucksters
Transportation
$145M
Satlantis
Space
$73M
Knowledge Development
Semiconductors
$16M
Qilimanjaro Quantum Tech
Semiconductors
$57M
Oncovision
Health
$6.3M
galeneo
Health
$4.4M
Jump Into Reality
Real Estate
$2.0M
Avanza Externalización de Servicios
Fintech
07 · Portfolio founders

Where AXIS’s portfolio founders come from.

26 founders across the 12 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. Spain23
  2. British Indian Ocean Territory1
  3. Sweden1
  4. United States1
UniversityCount
  1. IE Business School4
  2. Carlos III University of Madrid2
  3. Comillas Pontifical University2
  4. Complutense University of Madrid2
  5. IESE Business School2
  6. IMD Business School2
  7. National University of Distance Education2
  8. Stanford University Graduate School of Business2
  9. Technical University of Madrid2
  10. University of Barcelona2
Previous companyCount
  1. Deimos-imaging3
  2. Airbus2
  3. Barcelona Supercomputing Center2
  4. Boston Consulting Group2
  5. CNIC2
  6. IMD Business School2
  7. IQVIA2
  8. Massachusetts Institute of Technology2
  9. Mount Sinai Health System2
  10. Strategy&2