"Samaipata, the pan-European venture capital firm founded in Madrid in 2016, has launched its third fund with a target of €110 million and an explicit focus on AI-native startups at the earliest stages of their development. The firm announced this week that the fund has already held its first close at €70 million."
"The shift to AI-native is deliberate and marks a meaningful evolution in Samaipata's thesis. The firm made its name backing digital platforms with network effects, the kind of businesses that become more valuable as they add users. Fund III extends that logic into a new architectural layer: instead of backing companies that build platforms on top of existing software, Samaipata wants to back companies that are building AI systems from the ground up, designed for a world in which the underlying intelligence is generative."
"The investor base for Fund III includes institutional names with significant reach: Germany's state development bank KfW, Spain's SETT (the state entity for industrial transformation and digitalisation, often referred to informally as the 'SEPI digital'), and a group of prominent Spanish family offices."
Samaipata, a Madrid-founded pan-European venture capital firm established in 2016, has announced its third fund with a €110 million target and a strategic focus on AI-native startups at early development stages. The fund achieved its first close at €70 million, backed by Germany's KfW development bank, Spain's SETT industrial transformation entity, and prominent Spanish family offices. Managing approximately €250 million in assets across 44 European startups, Samaipata is shifting its investment thesis from digital platforms with network effects to companies building AI systems from the ground up. This evolution reflects a deliberate strategic pivot toward infrastructure-level AI companies designed for generative intelligence environments, representing a meaningful architectural layer advancement from the firm's previous platform-focused approach.
#venture-capital #ai-native-startups #european-tech-investment #fund-iii-close #generative-ai-infrastructure
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