Enzo Ventures Launches €20 Million Fund II to Back Early-Stage Tech Startups

The fund will focus on pre-seed investments, with initial investments ranging from €250,000 to €600,000. Enzo Ventures said around 90% of investors from its previous fund have committed to the new fund, with some choosing to increase their investments.

“We have raised nearly 20 million euros from various family offices in Spain, the rest of Europe and Mexico,” (Translated) says Edgar Vicente, co-founder of the management company alongside Iván Fernández Lucas.

“One of the biggest mistakes when analysing venture capital in southern Europe is to think that the opportunity is limited to companies based in the region. We believe exactly the opposite. Some of the best founders will build their businesses from San Francisco, London or Zurich. Our job is to find them before anyone else knows their names,” adds Edgar.

“Enzo I was about demonstrating that we could identify these founders at a very early stage. Enzo II is not about changing our strategy, but about increasing our capacity to implement the same formula on a larger scale, with better access and all the lessons learnt over the past three years,” (Translated) says Iván Fernández Lucas, Founding Partner at Enzo Ventures.

Enzo Ventures was founded in 2020 and is led by Vicente and Fernández Lucas. Before starting the firm, they gained experience working at companies such as Glovo, Industry Labs, and Swapcard.

The pair also co-founded DiHola, a startup that developed digital business cards. They later sold the company, gaining valuable experience in building and running a business.

Their experience as entrepreneurs has shaped Enzo Ventures’ investment approach. The firm focuses on supporting early-stage founders, often before their businesses generate significant revenue or attract investment from larger venture capital firms.

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