Tritemius Launches Spain’s First Regulated Web3 VC Fund with €21M to Back Early-Stage Startups

In a move poised to reshape Spain’s web3 startup ecosystem, Madrid-based Tritemius Capital has launched the country’s first regulated web3-focused venture capital fund — Tritemius Fund FCRE I. The fund, with an initial close of €21 million, is set to invest in early-stage blockchain startups across Europe, Latin America, and beyond.

The fund is managed by Abante, one of Spain’s leading financial advisory and asset management firms, which currently oversees over €1.5 billion in private markets. Tritemius acts as the promoter and advisor to the fund, positioning itself as a key player in identifying high-potential web3 startups at the pre-Seed to pre-Series A stages. Average investment per company is expected to be around €500,000, with additional capital reserved for follow-on rounds.

A First for Spain’s Crypto VC Landscape

What sets Tritemius Fund FCRE I apart is its regulatory status. It is currently the only Spanish VC fund exclusively focused on web3 that is authorised as a European Venture Capital Fund (EuVECA) under the CNMV, Spain’s financial market regulator. This marks a significant step toward bridging institutional capital with the rapidly growing decentralized technology sector.

Luis Pastor, CEO and Co-founder of Tritemius Capital, emphasized the fund’s broader mission:

“We want to fill a critical gap in blockchain investment and serve as a bridge between Europe, Latin America, and the rest of the world. Our aim is to go beyond just funding — we’re here to support founders with strategic insight and access to a strong, global network.”

Strategic Sectors and Startup Support

Tritemius Fund FCRE I targets web3 entrepreneurs building in DeFi, blockchain infrastructure, cybersecurity, privacy, and tokenization. The selection criteria emphasize not just innovation but the quality and vision of founding teams. According to Pastor, “In this sector, having highly skilled talent and a clear understanding of their tech’s impact is crucial.”

Alongside capital, the fund offers hands-on support, including mentoring, regulatory guidance, and go-to-market strategies to help startups scale internationally. The Tritemius team includes seasoned professionals such as Lluís Pedragosa Massó (ex-VC in the U.S. and Israel), Pablo Romero (former member of BBVA’s Blockchain & Digital Assets team), and blockchain veteran John Whelan.

Furthermore, Tritemius Capital believes this is a “unique opportunity window” for blockchain innovation, driven by growing institutional adoption, improved regulation, and increased market maturity. The firm is particularly bullish on advancements such as account abstraction, intents, zero-knowledge proofs (ZKPs), and emerging verticals like DePIN and decentralized social media.

The team is already assessing its first investments, which include a cybersecurity-focused Spanish web3 firm, a startup tokenizing microloan guarantees in Latin America, and a U.S.-Israel venture offering digital asset infrastructure solutions.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

🗣️ Interested in advertising with CIM? Talk to us!