BBVA, a leading Spanish multinational financial services provider, recently announced an investment worth 15 million euros in Leadwind. The financial firm is planning to boost the growth of technology startups.
Managed by K Fund, Leadwind is one of the leading venture capital funds. With the announcement of the recent investment by BBVA, Leadwind has now secured commitments from corporate giants like Telefónica, Global Omnium through GoHub and SATEC.
BBVA noted that the intention of K Fund is to raise up to 250 million euros. Established in 2016, K Fund started as an early-stage fund with a focus on the Spanish market.
“The local ecosystem is ready; we see great entrepreneurs around us every day, from Barcelona or Madrid to Lisbon, Oporto or Sao Paulo, demonstrating that Silicon Valley is an attitude, tackling complex projects without fear and creating winning global projects,” says Miguel Arias, a K Fund partner.
“We have already met some great teams that have developed amazing technologies, and we can't wait to partner with scale-ups to help them get to the next stage and compete globally,” Arias added.
BBVA’s Fintech Investments
BBVA has expanded its efforts to facilitate the adoption of innovative technologies in the financial services sector. The Spanish financial giant recently invested around $300 million in Neon, a prominent Brazilian digital bank. Recently, BBVA’s Propel and Acel led Truora’s $15 million funding round.
“At BBVA, we are committed to supporting the entrepreneurial ecosystem and fostering innovation through investment, banking services, and financing. Our involvement in Leadwind will allow us to be closer to companies with a high technological component in accelerated growth or scaleup phases, which already have a proven business model and need financing to grow and reach new markets,” Roberto Albaladejo, the Head of Banking for Growth Companies at BBVA, explained.
