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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 10 SOURCES

Henko Partners

Also known as Henko Capital Partners, SGEIC, S.A., Henko Capital Partners, Henko

Madrid lower-mid-market private equity firm founded in 2021 by ex-Sherpa Capital team; buy-and-build in Iberian SMEs in digital tech, energy, health and industrial tech. €300m AUM.

HEADQUARTERS
Madrid, Spain
FOUNDED
2021
AUM
€300M (2026)
OUTSIDE CAPITAL
Yes
TEAM LISTED
10 people

Focus

STAGES
GrowthBuyout
SECTORS
Software & SaaSClimate & EnergyHealthTechIndustrial & Manufacturing
ASSET MIX
Private equity
GEOGRAPHY
SpainPortugal

Overview

Henko Partners was founded in early 2021 by Lars Becker, a former Sherpa Capital private equity partner, with Íñigo Urbón, Ricardo Mellado and Jules de Meeûs. Its first fund raised €70m in 2021, extended to €100m in March 2024, and its second fund, Henko Capital Partners II FCRE, closed at its €175m hard cap in October 2024. It takes majority stakes in Spanish and Portuguese SMEs with EBITDA of €2–10m and builds them through add-on acquisitions, with investors mainly European institutions plus Spanish family offices and the founders. It reported €300m under management in July 2026.

Investment thesis

Majority stakes in Iberian lower-mid-market companies (EBITDA €2–10m) in fragmented markets in digital technology, energy and environment, health and industrial technology, scaled through buy-and-build and international expansion.

PORTFOLIO (9)

  • QuadranteNOTABLE
    Climate & Energy · since 2023
  • Aerotecnic
    Industrial & Manufacturing · since 2026
  • Attlon
    Industrial & Manufacturing · since 2025
  • Balflex
    Industrial & Manufacturing · since 2024
  • Linkroad
    Software & SaaS · since 2023
  • Astrum
    HealthTech · since 2022
  • Revergy
    Climate & Energy · since 2022
  • Voltan
    Climate & Energy · since 2021
  • Defeder
    Food & Agriculture · since 2021

People

  • Lars Becker
    Partner · source
  • Íñigo Urbón
    Director · source
  • Ricardo Mellado
    Director · source
  • Javier Martín
    Director · source
  • Jules de Meeûs
    Director · source
  • Volker Hichert
    Senior Advisor · source
  • Monika Hoderlein
    Portfolio Director · source
  • Rubén Hierro
    Portfolio Director · source
  • Vanesa Valentín
    Chief Financial Officer · source
  • Santiago Lardiés
    General Counsel · source

Links

Frequently asked questions

Henko Partners is a private equity fund based in Madrid, Spain, founded in 2021.

Yes. Henko Partners invests its own capital in private companies.

Henko Partners invests at Growth and Buyout stages in Software & SaaS, Climate & Energy, HealthTech and Industrial & Manufacturing.

Key people at Henko Partners include Lars Becker (Partner), Íñigo Urbón (Director), Ricardo Mellado (Director) and Javier Martín (Director).

Henko Partners's investments include Quadrante, Aerotecnic, Attlon, Balflex, Linkroad, Astrum, Revergy and Voltan, among others.

The most recent publicly reported investment by Henko Partners is NRP Jones (combined with portfolio company Balflex) (Add-on (US operations combined; terms not disclosed)), announced in Oct 2026.

Yes. Henko Partners manages capital from outside investors.