Onchena
Also known as Onchena, S.L.
Investment vehicle of the Basque Ybarra Careaga family: stakes in listed Spanish companies, incl. Izertis (5%), Vocento and Nicolás Correa; exited MásMóvil and Solarpack.
USEFUL FOR Co-investors
Family & background
- FAMILY
- Ybarra Careaga
- WEALTH ORIGIN
- Estate of Fernando Luis de Ybarra y López-Dóriga (d. 2001), former chairman of Sevillana de Electricidad
- HEADQUARTERS
- Spain
- OUTSIDE CAPITAL
- No — own capital only
Investment approach
- SECTORS
- Media & EntertainmentClimate & EnergyIndustrial & ManufacturingReal Estate & PropTechSoftware & SaaS
- GEOGRAPHY
- Spain
- ROUTES
- Companies (own capital)
- STRATEGIES
- Direct investmentsPublic equitiesReal estate
Overview
Onchena is the limited company that manages the wealth of the Ybarra Careaga family of Neguri (Getxo, Bizkaia), heirs of Fernando Luis de Ybarra y López-Dóriga. It takes minority stakes in listed Spanish companies: it sold its MásMóvil shares in 2020 for €393M and its Solarpack shares in 2021 for €57M. It joined the board of Ecoener in March 2022, holds a long-standing stake in Vocento, and in 2020 raised its stake in machine-tool maker Nicolás Correa to 5.36%; press also cites holdings in Reig Jofre, Lingotes Especiales and several socimis. In July 2026 it raised its Izertis stake from 3.753% to 5%, becoming that company’s second-largest shareholder; CNMV records cited by Europa Press show Carmen Ybarra holding 89.9% of Onchena’s voting rights.
Holdings & investments (8)
- MásMóvilNOTABLEMedia & Entertainment · Exited (shares sold in 2020 for €393M)
- EcoenerNOTABLEClimate & Energy · Board seat since March 2022
- Izertis (5%)NOTABLESoftware & SaaS
- Nicolás Correa (5.36%)Industrial & Manufacturing · since 2020
- VocentoMedia & Entertainment · since 2006
- SolarpackClimate & Energy · Exited
- Reig Jofre
- Lingotes EspecialesIndustrial & Manufacturing
People
- Álvaro Ybarra ZubiríaExecutive Chairman · source
Frequently asked questions
Onchena is a single family office based in Spain.
Onchena invests on behalf of the Ybarra Careaga family (Estate of Fernando Luis de Ybarra y López-Dóriga (d. 2001), former chairman of Sevillana de Electricidad).
Onchena invests its own capital into companies. Its stated asset mix includes direct investments, public equities and real estate.
Onchena invests in Media & Entertainment, Climate & Energy, Industrial & Manufacturing, Real Estate & PropTech and Software & SaaS.
Key people at Onchena include Álvaro Ybarra Zubiría (Executive Chairman).
Onchena's holdings and investments include MásMóvil, Ecoener, Izertis (5%), Solarpack, Vocento, Nicolás Correa (5.36%), Reig Jofre and Lingotes Especiales.
The most recent publicly reported investment by Onchena is Izertis (Stake raised from 3.753% to 5% (CNMV filing)), announced in Jul 2026.
No. Onchena invests its own capital and does not raise money from outside investors.