Samaipata Raises €110M Fund to Back AI‑Native Startups

Samaipata, a European venture capital firm focused on early‑stage tech, has launched its third vehicle: Samaipata III, a €110 million fund aimed at backing the next generation of AI‑native startups. The fund is targeting 25 to 30 portfolio companies and can deploy up to €10 million into individual companies over time.

The firm says Samaipata III will prioritise application‑layer businesses that can scale internationally from day one, with a particular focus on B2B solutions that abstract the complexity of AI deployment for real‑world use cases. Investments will be aimed at teams building products that move AI beyond experimentation and into critical business processes.

Fundraising is already well advanced, with around €70 million committed so far. Anchor investors include Spain’s SETT and Germany’s KfW, alongside several prominent Spanish family offices. Notably, some founders previously backed by Samaipata have reinvested into the new fund as their companies have matured.

Samaipata emphasises that Fund III will double down on its Founder Success platform, offering more than capital: portfolio companies will gain access to operating partners with experience from organisations such as Anthropic, Google, Airbnb, Spotify and N26. The firm also facilitates introductions to customers and talent while leveraging partnerships with technology providers including Nvidia, Anthropic, Microsoft Azure and Google Gemini.

The announcement references Samaipata’s track record: more than 44 investments across Spain and key European markets, with strong Series A conversion rates — roughly 80% of Fund I companies and 60% of Fund II companies reached Series A within five years. The portfolio includes names such as Matera, Bigblue and Deporvillage, the latter cited as a high‑multiple exit.

José del Barrio, a founding partner, framed the timing as favourable: AI is moving into operational roles across industries, creating opportunities for teams that can build commercially viable, globally relevant companies from Europe.