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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 14 SOURCES

Queka Real Partners

Also known as Queka, QRP, QUEKA RP, SGEIC, S.A.

Madrid private equity manager for the Iberian lower mid-market (€2–5M EBITDA, €10–20M equity tickets); second fund closed at €194M in 2025.

HEADQUARTERS
Madrid, Spain
FOUNDED
2018
AUM
€350M (2025)
OUTSIDE CAPITAL
Yes
TEAM LISTED
7 people

Focus

STAGES
GrowthBuyout
SECTORS
Consumer & E-commerceEducationSoftware & SaaSFood & Agriculture
ASSET MIX
Private equity
GEOGRAPHY
SpainPortugal

Overview

Queka Real Partners is a Madrid private equity firm founded in 2018 that takes majority and minority control stakes in Spanish and Portuguese companies with €2–5M of EBITDA, typically investing €10–20M. Its first fund closed on €151M of LP commitments in 2020 and its second, Queka RP PEF 2, closed at €194M in June 2025 against a €175M target. The manager, QUEKA RP, SGEIC, S.A., is registered with the CNMV, and the firm reports over €350M under management.

Investment thesis

Generalist lower mid-market buyouts and growth deals in Iberia: companies with €2–5M EBITDA, strong management teams, non-cyclical or fragmented sectors with consolidation potential, and a defined exit route; value creation via efficiencies, organic initiatives and buy-and-build.

PORTFOLIO (9)

  • B2groupNOTABLE
    Software & SaaS · since 2025
  • MEDACNOTABLE
    Education · since 2018 · Exited
  • Expertia
    Education · since 2026
  • Juan Navarro García
    Food & Agriculture · Exited
  • LipoTrue
    Consumer & E-commerce · since 2024
  • Cerería Mollá
    Consumer & E-commerce · since 2022
  • Factory Colchón
    Consumer & E-commerce · since 2022
  • Madrid HiFi
    Consumer & E-commerce · since 2021
  • MN Program
    Software & SaaS · since 2021

People

  • Fernando Elío
    Managing Partner, Investment Committee member · source
  • Patrick Gandarias
    Senior Partner, Investment Committee member · source
  • Enrique Martinavarro
    Senior Partner, Investment Committee member · source
  • Nicolás Maraver
    Partner, Investment Committee member · source
  • Javier Esteban
    COO, Partner, Investment Committee member · source
  • Carmen Álvarez-Novoa
    Director · source
  • Javier Ramos
    Director · source

Links

Frequently asked questions

Queka Real Partners is a private equity fund based in Madrid, Spain, founded in 2018.

Yes. Queka Real Partners invests its own capital in private companies.

Queka Real Partners invests at Growth and Buyout stages in Consumer & E-commerce, Education, Software & SaaS and Food & Agriculture.

Queka Real Partners's stated ticket size is €10M–€20M.

Key people at Queka Real Partners include Fernando Elío (Managing Partner, Investment Committee member), Patrick Gandarias (Senior Partner, Investment Committee member), Enrique Martinavarro (Senior Partner, Investment Committee member) and Nicolás Maraver (Partner, Investment Committee member).

Queka Real Partners's investments include B2group, MEDAC, Expertia, Juan Navarro García, LipoTrue, Cerería Mollá, Factory Colchón and Madrid HiFi, among others.

The most recent publicly reported investment by Queka Real Partners is Expertia (Majority stake), announced in Sep 2026.

Yes. Queka Real Partners manages capital from outside investors.