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Private Equity FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 7 SOURCES

JB46 Partners

Also known as JB46 Partners SGEIC SA, JB46

Madrid search-fund and microcap investor (CNMV SGEIC no. 222); backed 190+ search funds; Fund III (JB46 SFI III) closed at €40M hard cap in 2025; LTH I launched 2026 for roll-ups and CCVs.

HEADQUARTERS
Madrid, Spain
FOUNDED
—
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

FOCUS

STAGES
Buyout
SECTORS
Software & SaaSIndustrial & ManufacturingEducation
ASSET MIX
Private equity
GEOGRAPHY
EuropeNorth AmericaLatin America

WHAT IT IS

Private Equity Fund. A fund manager investing limited-partner capital into mature private companies.

ABOUT

JB46 Partners is a Madrid-based institutional investor in search funds and entrepreneurship through acquisition, backing first-time CEOs who acquire small and medium-sized companies in Europe, the US, Canada, Mexico and Brazil. It closed its third dedicated fund, JB46 SFI III FCRE, at its €40M hard cap in September 2025. In February 2026 it launched JB46 LTH I, its fourth vehicle, for roll-ups, buy-and-builds, holdcos and committed capital vehicles, with a first investment in GRCS Trust. It reports backing more than 190 search funds.

PORTFOLIO (12)

  • CTAIMANOTABLE
    Software & SaaS · since 2020 · Exited
  • Logiscenter
    since 2019 · Exited
  • Tethys
    Exited
  • Lanaccess
    since 2018
  • Infonetica
    Software & SaaS · since 2019
  • Espiral Microsistemas
    Software & SaaS · since 2021
  • Actibio
    Food & Agriculture · since 2022
  • Cropfoods
    Food & Agriculture · since 2022
  • IMMSA
    Industrial & Manufacturing · since 2024
  • Oakmont Education
    Education
  • Gallagher Bros Construction
    since 2025
  • GRCS Trust
    Software & SaaS · since 2025

TEAM

  • Jorge Maortua
    Chairman · source
  • Esteban Kallay
    CEO · source
  • Chema Jerez
    Partner · source
  • Jorge de Gortari
    Partner · source
  • Jose Manuel Colina
    Partner · source
  • Marcelo Castro
    Partner · source
  • Mick Albero
    Partner · source
  • Miguel Ángel Cestero
    Partner · source
  • Paco Galiana
    Partner · source

LINKS

FAQ

JB46 Partners is a private equity fund based in Madrid, Spain.

Yes. JB46 Partners invests directly in private companies.

JB46 Partners invests at Buyout stage in Software & SaaS, Industrial & Manufacturing and Education.

Key people at JB46 Partners include Jorge Maortua (Chairman), Esteban Kallay (CEO), Chema Jerez (Partner) and Jorge de Gortari (Partner).

JB46 Partners's investments include CTAIMA, Logiscenter, Tethys, Lanaccess, Infonetica, Espiral Microsistemas, Actibio and Cropfoods, among others.

The most recent publicly reported investment by JB46 Partners is GRCS Trust (Initial investment by JB46 LTH I (permanent-capital software platform, North America)), announced in Feb 2026.

Yes. JB46 Partners manages capital from outside investors.