Spain’s Kibo Ventures has launched a €45m venture capital fund aimed at mobile and internet startups with high growth potential.
The fund has received backing from Telefónica, CDTI, Mutua Madrileña, Axis-ICO Group, a leading family office in Spain and other private investors, the firm said.
Kibo has already invested in companies including mobile advertising network Mediasmart, business metric monitoring software company Ducksboard and English video learning platform Colingo.
Last month Active Venture Partners became one of Spain’s largest technology investors after closing its second fund on €54m, exceeding its €45m target.
The firm hit a €25m first close in December 2010 and set a hard cap of €60m for the fund.
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