Bonsai Partners

Bonsai Partners is a venture capital investment firm established in 2018 and based in Madrid, Spain. The company focuses on investing in tech startups across Europe, targeting opportunities in the finance, healthcare, and technology sectors. Bonsai Partners engages in both primary and secondary investments, catering to companies at various stages of growth, specifically from pre-series A to series C. With a commitment to fostering innovation, Bonsai Partners aims to support emerging businesses that have the potential to make a significant impact in their respective industries.

Escursell, Martí

Managing Partner

Albert Llobet

Associate

Andrés de la Morena

Managing Partner

Catarina Vaz

Director

Past deals in Madrid

Trucksters

Series A in 2022
Trucksters is a Madrid-based freight startup that focuses on offering long-haul transport services using an innovative system of relays. It operates across EU, working for more than 500 shippers.

Frenetic

Venture Round in 2021
Frenetic simplifies the design and optimization of magnetic components by combining power electronics expertise with advanced simulation tools and AI. Our platform enables engineers to efficiently move from concept to production with high precision. The Frenetic Simulator offers accurate modeling for power converter design, supporting multiple topologies and real-world physics-based optimization using state-of-the-art AI and mathematical modelling. Engineers can select from a broad database of core materials, customize losses, analyze winding strategies, and integrate thermal modeling with up to 90% accuracy. Automated reporting streamlines validation with detailed breakdowns of losses, specifications, and BOMs. Beyond simulation, Frenetic connects engineers with top-tier manufacturers, ensuring seamless design-to-production transitions. Built by power electronics experts, our platform continuously evolves to support high-frequency applications, energy-efficient solutions, and next-generation power architectures.

Revelock

Series A in 2019
buguroo was founded in Madrid in 2015 to develop cybersecurity and disruptive anti-fraud solutions, always keeping abreast of the latest market trends. Today, buguroo is the mastermind behind the most comprehensive solution for online fraud prevention known as bugFraud. Thanks to this product, banks across the globe protect their customers in real-time from all the online fraud use cases.

Trucksters

Seed Round in 2019
Trucksters is a Madrid-based freight startup that focuses on offering long-haul transport services using an innovative system of relays. It operates across EU, working for more than 500 shippers.

GIGAS

Seed Round in 2011
Gigas specializes in advanced real-time cloud hosting services, catering to a diverse range of business needs. Founded by experts from prominent telecom and internet companies, Gigas offers a robust product called Cloud Datacenter, which allows customers to deploy servers and other essential data center equipment through an easy-to-use control panel. The company operates in Spain and Latin America, with offices in major cities and services provided from four Tier-III and Tier-IV certified data centers. Gigas delivers Infrastructure as a Service to over 3,600 clients, including small and medium-sized enterprises as well as large corporations. Their offerings also include disaster recovery solutions and cloud server infrastructure for applications such as SAP and Oracle. Gigas has been recognized for its excellence, having been named the best cloud hosting provider globally at the 2016 Cloud Awards and acknowledged by Gartner as a Global Significant Provider.

iAhorro

Venture Round in 2011
Iahorro Business Solutions S.L. owns and operates iahorro.com, a personal finance comparison website that allows users to compare the prices of financial products, including deposits, bank accounts, mortgages, brokers, and insurance. The company is based in Madrid, Spain. As of May 31, 2017, Iahorro Business Solutions S.L. operates as a subsidiary of GRUPO BC de Asesoría Hipotecaria, SL.

Tuenti

Venture Round in 2008
Tuenti is a Madrid-based tech company that has developed the first social Mobile Network Virtual Operator (MVNO) on the market with an integrated mobile application with private and secure instant messaging and social communication. Tuenti Móvil is the first Telco 2.0 offering in-the-cloud telephone services. Focused on client experience, centered on data, and totally online, Tuenti incorporates unique, innovative features in its app such as account management, customer service, and free use of the app even without phone credit. Founded in 2006, Tuenti is the most successful tech company in the history of the Internet in Spain. It has put the mobile at the center of its strategy and is committed to talent, innovation and strong value-added services for its clients and users. Approximately 200 professionals from different countries make up the team. It's main shareholder is Telefónica, an international telecommunications group, who became strategic investor in 2010. Tuenti, pronounced in Spanish, sounds like Twenty in English. The name, however, actually comes from "tu enti[dad]," meaning "your entity." Tuenti is mainly targeted at the Spanish audience. Zaryn Dentzel, CEO, and Kenny Bentley, the lead programmer, came to Spain after having worked in social networking in the United States. Kenny Bentley is credited with coding most of the original platform from a small office in the north of Madrid in Spring 2006, while Zaryn Dentzel led the project and was involved in much of the design and strategy. Tuenti whose social networking website was referred to as the "Spanish Facebook" featured many tools common to social-networking sites. It allowed users to set up a profile, upload photos, link videos and connect with friends. Many other utilities, such as the ability to create events, were also offered. Unlike similar social networking sites which feature banner advertisements, Tuenti opted out of those traditional forms of "noisy" and obstructive advertising. According to the Google Annual Search Report, "tuenti" was the fourth fastest-rising global search term in 2008, and Alexa Internet ranks the site as one of the top-ten most visited in Spain. In August 4, 2010, Tuenti was acquired by Telefonica for 70 million. The organization now employees from countries around the world, including Spain, the U.S., Sweden, Germany, Poland, the UK and Portugal.

Niumba

Seed Round in 2005
Niumba.com is whose mission is to offer their users access to the largest selection of Tourist Properties in Spain.

idealista

Venture Round in 2003
Idealista provides the buyer and the seller with useful information to help and guide them in their buying-selling. It has been specializing in helping millions of people overcome the anxiety and frustration of finding a home.

Toprural

Venture Round in 2002
Toprural is a rural accommodation search engine that aims to promote rural tourism. Its objective is to offer travelers with a simple and efficient way of organizing their rural getaways and to give the owner a better platform from which to attract customers to their accommodation. Toprural delivers offers of rural tourism in Europe, including over 19,000 rural accommodations in 10 countries and thousands of travelers’ opinions. Through this platform, owners of the rural accommodation have the ability to showcase to promote their properties, with trust and confidence given through the dedication and the experience of a web professional in rural tourism in Europe. Toprural was launched in 2000 by François Derbaix and Marta Esteve, Juan Alvarez. It is based in Madrid.
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