Barcelona's Masia closes €18M debut fund, opens founder hub
What's the deal? MasiaDealroom has a profile for this one. Try Dealroom →, a Barcelona-based venture capital firm, has closed its €18 million debut fund to back early-stage AI and frontier tech startups tied to the city. The firm, founded in 2025 by Carlos Trenchs and Pepe Borrell, has already invested in 45 companies and plans about 20 more deals through next year.
Who's backing it? About 65% of the fund came from a community of roughly 70 founders and business angels, including backers from Kantox, Vlex, Seedtag, and OpentrendsDealroom has a profile for this one. Try Dealroom →. The rest came from two institutional investors: the Sociedad Española para la Transformación Tecnológica contributed €6 million, and Barcelona city council added €1 million.
What's the strategy? Masia operates as a super angel fund, writing pre-seed and seed cheques of roughly €200,000 to €300,000 alongside international investors. It does not lead rounds or take board seats. "We are closer to the figure of the business angel than the fund," Trenchs said (translated from Spanish).
The expansion: Alongside the close, Masia opened Masia House, a 1,000m² space across four floors in the Gràcia district. The former factory houses offices, coworking space for portfolio companies, and accommodation for visiting investors, aiming to connect local founders with global capital.
Why now? Trenchs said the firm launched because "Barcelona's tech ecosystem was nearing a tipping point." Portfolio companies include biotech Biorce, which closed a €43.8 million Series A this year, and Prosper, which raised €26.67 million in a round led by a16z.
What's next? When the first fund completes its investment cycle in the second half of 2027, Masia plans a similar-sized second vehicle with the same strategy. Talenta Gestión will manage it, replacing Aldea Ventures.
The signal: Masia's debut is small against larger venture funds, but it reflects momentum in Spain, where startups raised €3.83 billion through September 2026, up 49% year on year. Barcelona drew €1.18 billion over nine months — narrowly ahead of Madrid — and Masia's bet is to pair modest cheques with a physical hub that keeps founders and global investors in the city.
Read more: EU-Startups, Tech.eu
Image credit: Generated with Gemini
