Samaipata Fund III

About Samaipata Fund III

Madrid-based pan-European VC targeting €110M for Fund III with €70M first close. Backs 25-30 European tech companies at late seed and pre-Series A building AI-native products. Anchor LPs include KfW and SETT.

Investment Focus

Location / RegionSpain

Funding StageSeed

Industry Focus

Ai Ml

Ecommerce

Saas

Investor Signals Profile

active

Sweet Spot

European AI-native B2B founder, MVP live, €200K–€1M ARR, targeting Series A within 18 months

AI-native B2B

late-seed Europe

data-loop defensibility

AI application layer

SMB SaaS enablement

Bullish Signals

First close at €70M (64% of target) before public announcement signals strong LP demandblog

KfW and SETT anchoring signals government-level conviction in the fund strategyblog

80% Series A conversion rate on Fund I validates sourcing and graduation capabilityblog

Anthropic and Nvidia partnerships offer rare enterprise distribution access for portfolioblog

25-30 company target means active dealmaking through 2027–2028blog

€110M Fund III publicly launched; Europe AI mandatewebsite

Repeat backing of VIVLA signals portfolio conviction depthwebsite

Backing since 2016; decade of hands-on operator platformwebsite

SMB SaaS + AI thesis: 23M European SMBs as addressable basewebsite

Contrarian Signals

Geography expansion into DE, FR, UK unproven against entrenched local specialistsblog

Founder Success platform value in new markets yet to be testedblog

Fund III portfolio companies not yet publicly disclosed — no new proof pointsblog

AI diligence tools may erode contrarian edge — own thesis riskwebsite

Self-flagging: AI sourcing tools kill contrarian ideas earlywebsite

Founder Do's

Come with a live MVP and early ARR between €200K–€1M (SaaS) before reaching out

Show a clear path to Series A within 18 months from the round

Demonstrate AI is core to defensibility, not a feature layer on top of the product

Engage with the Founder Success platform — Anthropic and Nvidia intros are real value

Apply directly via their Typeform and highlight geography (DE, FR, UK now equal priority to ES)

Founder Don'ts

Don't pitch pre-product — they rarely invest before MVP is live

Don't frame AI as a bolt-on feature; defensibility must come from data loops or workflow integration

Don't assume they are Spain-only — that framing is outdated for Fund III

Key GPs & Partners

José del Barrio

Co-Founder & General Partner

ex-founderthesis-drivencommunity-builder

Eduardo Díez-Hochleitner

Co-Founder & General Partner

thesis-drivenpatient-capitalmetrics-driven

Luis Garay

Partner (Investment)

thesis-drivenopinionated

Alberto Cuevas

Partner (Founder Success)

hands-oncommunity-builder

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Fund Overview

Fund Size€110M

Saves0

Website

Key People

José del Barrio, Eduardo Díez-Hochleitner

José del BarrioCo-Founder & General Partner

Eduardo Díez-HochleitnerCo-Founder & General Partner

Luis GarayPartner (Investment)

Alberto CuevasPartner (Founder Success)