Barcelona-based Enzo Ventures closes €20M Fund II backing Southern European founders

Barcelona-based venture capital firm Enzo Ventures has successfully closed its second fund, a €20 million capital raise, dedicated to supporting founders from Southern Europe at the pre-seed stage. This second fund expands upon Enzo's initial approach, which began in 2023 with its first €10 million investment round. The firm's strategy remains consistent, focusing on early-stage capital for highly ambitious and globally-oriented founders.

Enzo defines diaspora entrepreneurs as those who originate from cities like Barcelona and Lisbon but build their companies in locations such as London and Paris while retaining strong connections to their home networks. The new fund plans to invest between €250,000 and €600,000 in each startup. Enzo has already made its first investments in the new fund, including London-based Cori Clinical and companies based in Madrid and Zurich.

Notably, Enzo's portfolio already includes successful companies like Orbio and Murphy, which now boast millions in annual revenue. Founded by Edgar Vicente and Iván Fernández Lucas, both with startup backgrounds, Enzo aimed to fill a perceived gap in Southern Europe. The duo saw an emerging generation of founders as more ambitious, technically skilled, and globally-minded from the outset, in contrast to many local venture capitalists who they perceived as overly cautious.