Fundación BBK
Also known as BBK, Bilbao Bizkaia Kutxa Fundación Bancaria, Bilbao Bizkaia Kutxa Banku Fundazioa, BBK Fundación Bancaria
Bilbao banking foundation (ex-savings bank BBK) owning 57% of Kutxabank and stakes in Basque companies such as Gestamp, CAF, Vidrala, Iberdrola and Talgo; about €5.3B in assets (2025).
- HEADQUARTERS
- Bilbao, Spain
- FOUNDED
- —
- AUM
- €5.3B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 3 people
Focus
- STAGES
- —
- ASSET MIX
- Direct investmentsPublic equitiesImpact
- GEOGRAPHY
- Spain
Overview
Bilbao Bizkaia Kutxa Fundación Bancaria is a private non-profit foundation that resulted from the transformation of the savings bank Bilbao Bizkaia Kutxa; it owns 57% of Kutxabank, whose dividends fund its social programmes and business investments. At the end of 2025 it managed total assets of about €5.3B, of which more than €1.35B sat in its investment portfolios: a strategic portfolio of stakes in Basque companies (or companies with a significant impact in the Basque Country), a liquid diversification portfolio of equities and bonds, and a small social portfolio. Its listed holdings at end-2024 included Gestamp, CAF, Vidrala, Iberdrola, Redeia and Arteche, and it invests in the parking operator APK2 through Aparca10 Capital Estacionamientos FCR. In November 2025 it agreed, as part of the Sidenor-led consortium buying 29.76% of Talgo, to take 8.5%; Talgo and Ayesa now appear in the strategic portfolio on its website.
Investment thesis
Strategic portfolio: stakes in Basque companies, or companies with significant impact in the Basque Country, that lead their niches, produce stable recurring results and quality employment, where BBK is or aims to be a relevant shareholder. Social portfolio: equity and loans to local innovative companies in biotech and industry with expected positive impact on the territory and environment. About 90% of its investments go to projects in the Basque Country.
PORTFOLIO (13)
- Kutxabank (57%)NOTABLE
- GestampNOTABLEIndustrial & Manufacturing
- CAFNOTABLEMobility & Logistics
- Talgo (8.5%)NOTABLEMobility & Logistics · since 2025
- Industrial & Manufacturing
- Industrial & Manufacturing
- Mobility & Logistics · since 2023
- Ayesa (listed in strategic portfolio on BBK site; stake not disclosed)Software & SaaS
- Oncomatryx (2.8%)Biotech & Life Sciences
- Begas Motor (0.84%)Climate & Energy
- Herko (5.7%)Mobility & Logistics
People
Links
Frequently asked questions
Fundación BBK is a institutional investor based in Bilbao, Spain.
Yes. Fundación BBK invests its own capital in private companies. It also commits capital to third-party funds as an LP.
Fundación BBK invests in Industrial & Manufacturing, Mobility & Logistics, Biotech & Life Sciences and Climate & Energy.
Key people at Fundación BBK include Unai Rementeria Maiz (Chairman of the Board of Trustees), Jon Berasategi Zabala (Vice-Chairman of the Board of Trustees) and Fidel Martínez Ruiz (Second Vice-Chairman of the Board of Trustees).
Fundación BBK's investments include Kutxabank (57%), Gestamp, CAF, Talgo (8.5%), Vidrala, Iberdrola, Redeia (Red Eléctrica) and Arteche, among others.
The most recent publicly reported investment by Fundación BBK is Talgo (8.5% via Sidenor-led consortium; purchase agreed, conditions due by 31 Jan 2026), announced in Nov 2025.
No. Fundación BBK invests its own capital and does not raise money from outside investors.