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VC FundPuts its own capital into companiesLAST VERIFIED Oct 2026 · 17 SOURCES

Zubi Capital

Investment arm (Zubi Labs anchored its first fund with 25% of the €40M target) of Zubi Labs

Also known as Zubi Capital Asset Management, SGEIC, S.A., Zubi Capital, S.A.

Madrid impact investment manager of Iker Marcaide’s Zubi Group; runs a pre-seed/seed Diversity Catalyst VC fund (€150K–€500K) and a Series A impact venture-debt fund (€500K–€2.5M).

HEADQUARTERS
Madrid, Spain
FOUNDED
2021
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
6 people

Focus

STAGES
Pre-SeedSeedSeries A
SECTORS
Climate & EnergyHealthTechFintechFood & AgricultureMobility & LogisticsEducation
ASSET MIX
Venture capitalPrivate creditImpact
GEOGRAPHY
Europe

Overview

Zubi Capital is the impact investment manager of Zubi Group, the group created by Flywire founder Iker Marcaide, and mobilises the group’s own capital and that of co-investors for companies addressing social and environmental challenges. Its first vehicle, Zubi Capital Impact Venture Finance SCR-Pyme, was approved in May 2021 as a €40M-target venture-debt fund with Zubi Labs committing 25% as anchor; it reached €20M and 11 investees by early 2023. Its Zubi Capital Diversity Catalyst FCRE, launched in Q4 2023, invests in early-stage startups with diverse founding teams and counts Juan Roig’s Angels among its investors. The manager registered with the CNMV in November 2022.

Investment thesis

Triple-impact (people, planet, profit) investing at market-rate returns: venture debt of €500K–€2.5M for Pan-European Series A impact companies with limited dilution, and €150K–€500K pre-seed/seed tickets in impact startups that embed diversity, equity and inclusion; every investee signs an Impact Termsheet.

PORTFOLIO (12)

People

  • Jose Nistal
    CEO – CIO · source
  • Marc Guasch
    Investment Director · source
  • Fernando Orteso
    Head of Investor Relations & Business Development · source
  • Pedro Olazabal
    Impact Director · source
  • Luciano Godoy
    Financial Controller · source
  • Iker Marcaide
    Zubi Group Founder & Chairman · source

Links

Frequently asked questions

Zubi Capital is a VC fund based in Madrid, Spain, founded in 2021.

Yes. Zubi Capital invests its own capital in private companies.

Zubi Capital invests at Pre-Seed, Seed and Series A stages in Climate & Energy, HealthTech, Fintech, Food & Agriculture, Mobility & Logistics and Education.

Zubi Capital's stated ticket size is €150K–€2.5M.

Key people at Zubi Capital include Jose Nistal (CEO – CIO), Marc Guasch (Investment Director), Fernando Orteso (Head of Investor Relations & Business Development) and Pedro Olazabal (Impact Director).

Zubi Capital's investments include Sycai Medical, Bihar Batteries, Bia Power, Humara, Kausal, Endogene Bio, Agrikola AI and ClimateTrade, among others.

Zubi Capital states that it accepts submissions through its official contact page.

Yes. Zubi Capital manages capital from outside investors.