CriteriaCaixa
Asset management and investment vehicle of Fundación Bancaria ”la Caixa” (Caixa d’Estalvis i Pensions de Barcelona)
Also known as Criteria Caixa, S.A.U., Criteria
Barcelona holding that manages the assets of the ”la Caixa” Foundation: €51.8B GAV (June 2026), 31% of CaixaBank, listed stakes, PE fund commitments and a venture arm.
- HEADQUARTERS
- Barcelona, Spain
- FOUNDED
- —
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 4 people
Focus
- STAGES
- Pre-SeedSeed
- ASSET MIX
- Public equitiesPrivate equityVenture capitalFunds (as LP)Real estate
- GEOGRAPHY
- SpainPortugalEuropeNorth America
Investment arms & vehicles
- Venture capital management company of CriteriaCaixa, investing in early-stage companies through Criteria Bio Ventures and Criteria Venture Tech
- Technology venture fund of Criteria Capital Risc focused on deep tech (AI, cybersecurity, software and data infrastructure), from pre-seed and seed
- Biotechnology and health venture fund of Criteria Capital Risc, investing in early-stage and growth-stage companies
- CNMV-supervised management company for CriteriaCaixa’s investments in private equity funds; manages the wholly owned vehicle Criteria Investments
- Manages CriteriaCaixa’s real estate business
Overview
CriteriaCaixa is the exclusive asset management vehicle of the ”la Caixa” Banking Foundation; its dividends fund the Foundation’s social programmes. Its portfolio, with a gross asset value of €51.8B at 30 June 2026, has four parts: the founding stake in CaixaBank (31%), significant stakes in mainly listed companies (Naturgy, ACS, Telefónica, Veolia, Inbursa, The Bank of East Asia, Colonial, Interparking, Aigües de Barcelona), an alternative portfolio capped at 10% of GAV, and a liquidity portfolio. The alternative portfolio is run by three wholly owned companies: Criteria Capital Risc (venture capital, via Criteria Bio Ventures and Criteria Venture Tech, with €300M planned for startups under the 2030 plan), Criteria PE Management (commitments to third-party private equity funds) and InmoCaixa (real estate). On 7 September 2026 it approved a €250M commitment to the Scaleup Europe Fund, managed by EQT.
Investment thesis
Alternative portfolio: income-generating real estate; holdings in third-party funds investing in unlisted companies with growth potential; and direct or fund investments in early-stage companies, mainly technology and biotechnology. Venture investments primarily in Spain and Portugal, selectively in Europe and North America.
PORTFOLIO (17)
- Naturgy (28.5%)NOTABLE
- Telefónica (9.99%)NOTABLE
- Scaleup Europe Fund (fund, managed by EQT) — €250M commitmentNOTABLEsince 2026
- ACS (10.65%)Industrial & Manufacturing
- Veolia (5.40%)
- Grupo Financiero Inbursa (9.10%)
- The Bank of East Asia (19.21%)
- Colonial SFL (17.73%)Real Estate & PropTech
- Interparking (18%)Mobility & Logistics
- Aigües de Barcelona (15%)
- Minoryx Therapeutics (via Criteria Bio Ventures)Biotech & Life Sciences
- Adaptam Therapeutics (via Criteria Bio Ventures)Biotech & Life Sciences
- NRG Therapeutics (via Criteria Bio Ventures)Biotech & Life Sciences
- Ipronics (via Criteria Venture Tech)Deep Tech
- Immfly (via Criteria Venture Tech)Software & SaaS
- Barbara (via Criteria Venture Tech)Software & SaaS
People
Links
Frequently asked questions
CriteriaCaixa is a institutional investor based in Barcelona, Spain.
Yes. CriteriaCaixa invests its own capital in private companies. It also commits capital to third-party funds as an LP.
CriteriaCaixa invests at Pre-Seed and Seed stages in Biotech & Life Sciences, HealthTech, Deep Tech, Artificial Intelligence and Software & SaaS.
Key people at CriteriaCaixa include Isidro Fainé Casas (Chairman of the Board of Directors), Francisco Reynés Massanet (First Deputy Chairman), Javier Godó Muntañola (Second Deputy Chairman) and José María Méndez Álvarez-Cedrón (Chief Executive Officer).
CriteriaCaixa's investments include CaixaBank (31% founding stake), Naturgy (28.5%), Telefónica (9.99%), Scaleup Europe Fund (fund, managed by EQT) — €250M commitment, ACS (10.65%), Veolia (5.40%), Grupo Financiero Inbursa (9.10%) and The Bank of East Asia (19.21%), among others.
The most recent publicly reported investment by CriteriaCaixa is Scaleup Europe Fund (€250M commitment approved) (Fund commitment), announced in Sep 2026.
No. CriteriaCaixa invests its own capital and does not raise money from outside investors.