Así es Merus Capital, el capital riesgo que busca activos fuera del radar del mercado

Merus Capital, a risk capital firm focused on non-market assets, was established in 2023 by Iggo Bilbao, Pablo Goizueta, and Constantino Sotelo. The trio previously worked together at Plenium Partners, Bankinter's energy arm. Merus Capital now manages a portfolio of 108 renewable energy plants in the Iberian Peninsula, generating a combined 307 megawatts of power, with 175 megawatts providing regulated income and the remaining 130 megawatts sold to the market.

The company's strategy revolves around minimizing risk, avoiding highly competitive markets, and targeting smaller projects with established production histories and regulated income. Their two initial funds, worth 52 million euros and 74 million euros respectively, have collectively managed 130 million euros worth of assets, valued at 850 million euros, including debt.

The firm has an impressive 300 investors, ranging from institutional investors with large ticket sizes to retail investors who contribute as little as 100,000 euros.

In 2025, Merus Capital decided to expand its horizons by acquiring a stake in Langre Tech, a technology growth equity firm. Langre Tech focuses on acquiring minority and majority stakes in technology companies with small EBITDA and those who have moved past the venture capital stage but haven't yet attracted private equity interest.

Merus Capital aims to invest in 8 to 12 companies, growing them organically and inorganically until they reach 5 to 10 million euros in EBITDA. From there, Merus Capital plans to sell these companies to strategic partners or mid-market buyers with continued financial support. The Langre Tech Growth fund is currently in a fundraising phase and expects to close several deals shortly.

The company's ultimate goal is to diversify its strategies and provide services to its growing investor base.