La española Fever se valora en más de 4.500 millones

A Spanish tech platform called Fever has been valued at over €4.5 billion following a 5% stake purchase from Atresmedia, according to a deal facilitated by British risk capital manager Vitruvian Partners. The transaction, which involved Vitruvian investing €227 million, brings Fever's valuation to new heights. EQT, a Swedish risk capital firm, is expected to join the investment round, with the amount potentially reaching €200 million.

Other notable investors in Fever include Goldman Sachs and L Catterton, the latter being part of the LVMH investment group. Fever has undergone two significant funding rounds in 2022 and 2025, raising €200 million and pushing its valuation to €3 billion. The company has also explored a stock market listing but has opted for additional funding rounds instead.

Atresmedia, which entered Fever in 2015, has reaped a €205 million profit from selling its 5% stake, adding to the €264 million in cumulative gains from partial divestments. The deal would see Atresmedia's media empire, which owns Antena 3 and La Sexta, propose a special dividend to its shareholders, including major players Planeta de Agostini (42%) and German audiovisual group RTL (15%).

Atresmedia's diversification arm, headed by Javier Nuche, has generated returns of 3.4 times the invested capital, with an annual return of over 26%. Fever's next steps include potentially rejoining the stock market, but for now, it remains focused on raising capital through further funding rounds.