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Mouro Capital Fund III

United Kingdom
Seed
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About Mouro Capital Fund III

Mouro Capital Fund III is a $400M fund fully backed by Banco Santander, taking the London and Madrid-based fintech specialist past $1B in total commitments. High-conviction model of 30-35 portfolio companies with $8-12M initial checks and up to $70M follow-on. 4x average return across 26 exits including iZettle's $2.2B sale to PayPal. Fund III has already invested in ElevenLabs and Sakana AI, signaling expansion into AI-native financial infrastructure.

Investment Focus

Location / RegionUnited Kingdom
Funding StageSeed
Industry Focus
Ai Ml
Fintech
Insur Tech
Payments Embedded Finance

Investor Signals Profile

active

Sweet Spot

Fintech founder solving compliance, infra, or access across ecosystem

fintech-ecosystem
payments
digital-assets
enterprise-fintech
regtech
neobanking
wealth-tech
alternative-financing

Bullish Signals

4x return across 26 exits, top-decileblog
Santander sole LP, $1B+ total commitmentsblog
ElevenLabs and Sakana AI in Fund IIIblog
Portfolio companies scaling: 16 active hires across roleslinkedin
Geographic expansion: hiring for Asia, Europe, LatAmlinkedin
12 portfolio winners on CNBC/Statista Top Fintech 2026linkedin
Portfolio spans payments, regtech, neobanking, wealth, assetslinkedin

Contrarian Signals

Single-LP concentration (Santander)blog
Bank LP may create governance constraintsblog

Founder Do's

Build fintech or AI-native financial infra
Target seed to Series C with $8-12M need
Show path to follow-on up to $70M
Operate in Europe, North America, or LatAm
Demonstrate clear unit economics and moat
Address compliance, infrastructure, or access gaps

Founder Don'ts

Expect multi-LP syndicate dynamics
Pitch outside fintech or AI-finance thesis
Ignore the 66% follow-on rate advantage

Key GPs & Partners

MSM
Manuel Silva Martínez
General Partner
fintech-veteranthesis-drivendisciplined
CG
Christopher Gottschalk
General Partner
fintech-specialistdisciplinedpatient-capital

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Fund Overview

Fund Size$400M
Saves0
Website
LinkedIn

Key People

Manuel Silva Martínez, Christopher Gottschalk

Manuel Silva MartínezGeneral Partner
Christopher GottschalkGeneral Partner

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