Fund profile / United Kingdom

Mouro Capital Fund III

Geography: United Kingdom
Stage: Seed
Fund size: $400M
Focus: AI/ML, FinTech, InsurTech and Payments & Embedded Finance
Signals: Published

N°01 / About

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.

N°02 / Thesis

Investment Focus

Location / RegionUnited Kingdom

Funding StageSeed

Industry Focus

AI/ML

FinTech

InsurTech

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

agri-data

supply-chain-intelligence

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

xFarm 6 strategic acquisitions, BlackRock partnership, 600k farmslinkedin

Agri-data consolidation: global pure-play data infrastructure winslinkedin

xFarm Sibium deal: Brazil sugarcane 70% market coveragelinkedin

BlackRock co-invests in xFarm Series C roundlinkedin

xFarm unified platform: 24M hectares, 4 crop typeslinkedin

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

Execute disciplined consolidation strategy across markets

Target agri-data, ESG, supply-chain intelligence plays

Founder Don'ts

Expect multi-LP syndicate dynamics

Pitch outside fintech or AI-finance thesis

Ignore the 66% follow-on rate advantage

28 signals on Mouro Capital Fund III

12 bullish · 2 contrarian · 8 pitch do's · 3 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

See a signal free View Plans Browse all Signal Profiles →

Facts

Fund Overview

Fund Size$400M

Saves0

Website

People

Key People

Manuel Silva Martínez, Christopher Gottschalk

Manuel Silva MartínezGeneral Partner

Christopher GottschalkGeneral Partner

Francesco PastiPartner

Backers

Known LPs

Banco SantanderBank

N°04 / See also

Related Funds

Entrepreneurs First

Fund size$200M

Location: United Kingdom
Stage: Pre Seed
Focus: Ai Ml, Deep Tech, Enterprise Software
Manager: Alice Bentinck, Matt Clifford

Pre Seed

Ai Ml

Deep Tech

Enterprise Software

White Star Capital North American Seed Fund

Fund size$25M

Location: United Kingdom
Stage: Seed
Focus: Ai Ml, Saas, Deep Tech
Manager: Catherine Ouellet-Dupuis; Sanjay Zimmermann

Seed

Ai Ml

Saas

Deep Tech

Atempo Growth II

Fund size€300M

Location: United Kingdom
Stage: Series A
Focus: Saas
Manager: Luca Colciago, Jack Diamond, Matteo Avramov Giulivi

Series A

Saas