BBVA (venture and climate fund investments)
Balance-sheet fund investment programme of BBVA
BBVA’s own-balance-sheet commitments to VC and climate funds: €600M committed by June 2023 (Propel, Leadwind, Axon, Swanlaab, Lowercarbon…); €560M in climate funds by Aug 2026.
- HEADQUARTERS
- Spain
- FOUNDED
- —
- AUM
- —
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 1 people
Focus
- STAGES
- —
- ASSET MIX
- Funds (as LP)Venture capital
- GEOGRAPHY
- SpainMexicoNorth AmericaGlobal
Overview
BBVA has invested its own capital in innovation funds for more than a decade, first in fintech through Propel Venture Partners and funds such as Sinovation. In June 2023 it reported €600 million committed to venture capital funds, including ten technology funds in Spain (Axon, BeAble, Extension Fund, Leadwind, Swanlaab) and Mexico (ALLVP, Angel Ventures, Cometa, DILA, Nazca). Its climate fund programme reached €560 million in twelve decarbonisation funds by August 2026, including KKR, Alterra, Lowercarbon and EQT.
Investment thesis
Fund commitments that give the bank early access to fintech, technology and decarbonisation companies and to the managers financing them, creating financing opportunities for the energy transition.
PORTFOLIO (12)
- Alterra (strategic partnership, $250M)NOTABLEClimate & Energy · since 2026
- KKR climate funds ($200M)NOTABLEClimate & Energy · since 2024
- Propel Venture PartnersNOTABLEFintech
- EQT (energy-transition fund, €15M)Climate & Energy
- TPG Rise Climate II ($25M)Climate & Energy · since 2024
- Lowercarbon ($45M)Climate & Energy
- NIO Capital fund ($10M)Artificial Intelligence · since 2025
- Suma Capital climate fund ($5M)Climate & Energy
- Leadwind (K Fund, €15M)Software & SaaS · since 2022
- Axon Partners Group fundSoftware & SaaS
- BeAble Capital fundDeep Tech
- Swanlaab fundSoftware & SaaS
People
- Javier Rodríguez SolerGlobal Head of Sustainability and CIB, BBVA (climate fund strategy) · source
Frequently asked questions
BBVA (venture and climate fund investments) is a corporate venture arm based in Spain.
BBVA (venture and climate fund investments) does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.
BBVA (venture and climate fund investments) invests in Fintech, Climate & Energy, Software & SaaS and Artificial Intelligence.
Key people at BBVA (venture and climate fund investments) include Javier Rodríguez Soler (Global Head of Sustainability and CIB, BBVA (climate fund strategy)).
BBVA (venture and climate fund investments)'s investments include Alterra (strategic partnership, $250M), KKR climate funds ($200M), Propel Venture Partners, EQT (energy-transition fund, €15M), TPG Rise Climate II ($25M), Lowercarbon ($45M), NIO Capital fund ($10M) and Suma Capital climate fund ($5M), among others.
No. BBVA (venture and climate fund investments) invests its own capital and does not raise money from outside investors.