Madrid-based venture capital firm Onza Capital has raised €18m towards its inaugural fund, its founder José María Irisarri told El Confidencial.
The fund has a final target of €25m and is seeking a second closing next month, he said.
The firm will target internet and mobile applications, investing beyondthe seed stage, as it focuses on companies entering the first phase of growth, he said. It has already completed three investments up to four other projects in due diligence.
The fund will aim to invest in up to twelve companies, with a lifespan of five to six years, Irisarri said.
Onza Capital is part of the Onza Group, which combines companies involved in banking security, industrial safety, residential security, transportation exchange and surveillance systems, amongst others.
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