Angel Fund Masia Launches €20 Million Fund To Back Startups In Barcelona

The fund plans to invest €20 million in 60 early-stage startups (pre-Seed and Seed), backing both local and international founders building global tech companies out of Barcelona.

Co-founder Carlos Trenchs says: “There is a huge opportunity developing in Barcelona. A brilliant, diverse mix of both local and international Founders has grown over a number of years here. Meanwhile, a new breed of MicroVCs and angel funds across Europe are changing how pre-Seed and Seed rounds are conducted. By acting as a glue for these two emerging forces, now is the time for a fund like Masia to help develop Barcelona into a major EU ecosystem for frontier technologies.”

Masia is a new angel fund launched by VC investor Carlos Trenchs and Crowdcube Europe co-founder Pepe Borrell. It began quietly in September last year, already backing 9 startups alongside 20 international VCs and emerging angel funds. Early investments include Fermat, Biorce, Zymvol, and Capably.

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Masia works in partnership with other angel funds and micro-VCs, focusing on pre-Seed and Seed stage startups. It also invests in select international angel funds to build strong global connections.

Trenchs and Borrell see Barcelona on the edge of becoming a major tech hub for three key reasons:

A maturing local scene – More first-time founders are exiting their startups and using their experience and capital to launch new ventures.

A growing international community – The city is attracting global talent. In 2024, two-thirds of tech startups in Barcelona had at least one international founder.

Untapped by global investors – Many international VCs still focus on cities like London or Berlin. To access Barcelona’s growing ecosystem, they need local partners who know the market well.

Masia’s advisory board includes well-known tech entrepreneurs from Barcelona, such as Albert Nieto (Co-founder of Seedtag), Elisenda Bou (Co-founder of Vilynx, bought by Apple), Philippe Gelis (Co-founder of Kantox, bought by BNP Paribas), and Albert Castells (Co-founder of iSalud, bought by CNP Insurance).

Co-founder Pepe Borrel says: “Although a proud Barcelonian, I have worked all over Europe in various capacities. I can say with complete objectivity that the potential we are seeing first-hand in Barcelona is significant. A perfect storm of factors means the immediate future for tech in the region looks extremely healthy. We want to be part of that process. Using our combined experience and the support of our Limited Partners, we hope to foster real growth for Barcelonian teams all across Europe.”

Masia has its own investment plan and team, different from Aldea Ventures. Trenchs will keep advising Aldea but will mainly focus on growing Masia and helping other projects in Barcelona. Borrell, with over 10 years of experience in tech, will manage Masia’s daily operations.

Pedro Coelho, Co-founder and CEO at Biorce, says: “This unique chance to partner with Pepe and Carlos in Barcelona on pivotal matters—encompassing everything from team development to long-term vision and vital client collaborations—is an immense privilege. It cultivates an invaluable feeling of home and support.“

In the coming months, Trenchs and Borrell will share big investment news as they work to grow Barcelona’s tech scene into one of Europe’s top tech hubs.

About - Masia

Masia started in 2025 as an angel fund for Barcelona’s innovative founders. Backed by experienced tech leaders, we invest in local and international founders building global tech companies connected to Barcelona. Masia partners with other international angel funds and specialist VCs to co-invest at the pre-seed and seed stages.