ICF Capital

ICF Capital is a private equity and venture capital firm based in Barcelona, Spain, founded in February 2010. It specializes in direct investments and manages venture capital funds with a focus on supporting mid-sized companies in Catalonia. ICF Capital primarily targets sectors such as information technology, biotechnology, social services, and electronics, among others. The firm typically invests between €0.5 million and €2.4 million in companies with annual sales ranging from €0.3 million to €100 million, often acquiring minority stakes. It operates as a subsidiary of the Institut Català de Finances, a public financial institution established in 1985 to enhance funding access for enterprises in Catalonia. ICF Capital manages two venture capital firms, ICF Capital Expansió II and ICF Venture Tech II, and aims to foster the growth of innovative startups and mid-market companies through its investment activities.

Irene Bertran Aixut

Investment Director, Financial Instruments

Noemí Gálvez

Director of Finance

Lloveras Llavina, Marc

Director, Structural European Funds

Jordi Vila Peiro

Finance Director

Vanessa Servera Planas

General Director, Finance and Operations

Adrià Torrelles

Investment and Portfolio Director

Joan Carles Rovira Garcia

General Director, Equity Investments and Capital Markets

Gómez Jané, Emilio

Investment Manager

Past deals in Southern Europe

Bloobirds

Venture Round in 2023
Bloobirds is helpful to anyone looking for an assisted, user-friendly, and powerful outbound process. Ideal for B2B SaaS companies looking to scale by adding an outbound team and those with an outbound team needing more quality opportunities and meaningful insights. Assist sales reps’ entire process from start to finish, including inbound qualification, target creation, cadence management, and pitch development. Activity tracker for LinkedIn, email, and phone calls included. Our platform also plays nice with your CRM and MAP to provide seamless integration.

PJ.LOBSTER™

Debt Financing in 2022
PROJECT LOBSTER SL designs, manufactures, and sells eyewear for men and women. The company offers sunglasses and eyeglasses, as well as lenses. It sells its products through its stores in Barcelona and Valencia, as well as online. The company was founded in 2017 and is based in Barcelona, Spain.
The AllRead Software is a deep learning-based information spotting technology able to read in a single shot the relevant structured alphanumeric text appearing in an image. A convolutional neural network (CNN) architecture is trained in an end-to-end manner and is able to directly output readings without any explicit text localization step. By bypassing any segmentation step and automatically ignoring irrelevant textual content, they provide a 100% automatic, smart, end-to-end and high precision reading system.

Wattwin

Debt Financing in 2022
Wattwin is a software engineering company that provides SaaS tools for marketing, sales, after-sales, and e-commerce.

born brands

Debt Financing in 2022
born brands guarantees the protection and confidentiality of personal data, of any kind our client companies provide us with in accordance with the General Regulation of Personal Data Protection. All data furnished by our client companies to BORN BRANDS BCN, S.L . or its staff, will be included in an automated personal data file created and kept under the responsibility of BORN BRANDS BCN, S.L , essential to provide with the services requested by the users.

BRICKBRO

Debt Financing in 2022
Our opportunities are selected by a team of experts with more than 30 years of experience in the real estate sector. Through the digital platform, investors choose the real estate opportunities in which they want to invest, depending on the type of property, terms and expected returns. Currently, Brickbro is one of the leading real estate investment platforms in the spanish market.

Housfy

Series B in 2022
Housfy Real Estate, S.L. operates an online real estate platform that facilitates the buying and selling of properties between private individuals. Founded in 2016 and headquartered in Barcelona, with an additional office in Madrid, Housfy provides a range of services including free property appraisals, online valuations based on cadastral references, and mortgage simulations. By eliminating traditional intermediaries, Housfy enables direct connections between buyers and sellers, allowing them to avoid brokerage fees and streamline the transaction process. The platform serves as a comprehensive resource for individuals looking to navigate the real estate market efficiently.

Weecover

Debt Financing in 2022
Weecover is an innovative insurance marketplace that streamlines the digital onboarding process for various insurance products. By leveraging advanced technology, Weecover simplifies the integration of insurance into the online purchasing experience, allowing businesses to present insurance options at the checkout stage for e-commerce and transactional platforms. The company offers coverage for a range of items, including pets, vehicles, gadgets, home appliances, and events. Its in-house technology facilitates a seamless quote and buy process, making it easier for companies, customers, and distribution partners to navigate the insurance landscape. Weecover's solutions have been successfully implemented by major utility firms, enhancing their digital offerings and improving customer experience.

Dogfy Diet

Debt Financing in 2022
Dogfy Diet provides homemade dog food products in chicken, turkey, salmon, and ox with custom portions and personalized plans services. Dogfy Diet products are homemade and cooked slowly with fresh, all-natural ingredients to provide a complete and nutritious diet. Dogfy Diet creates a one-of-a-kind and personalized recipe for each dog, based on its characteristics and nutritional needs, to ensure a healthy and balanced diet throughout all stages of its life.

VB Devices

Debt Financing in 2021
VB Devices is developing 2 highly innovative medical devices invented and patented by vascular surgeon Dr. Enric Roche. Purespume is an automated foam-preparation system for use in the treatment of varicose veins with sclerotherapy. The flexiblity and versatility Purespume brings to foam sclerotherapy can make it the gold standard for the treatment of varicose veins of all sizes. The Cutneedle allows for simple and precise insertion site enlargement during Seldinger procedures, without using a scalpel. This device will revolutionize a technique that is used thousands of times a day around the world, and has not been improved in over 60 years. Both devices are in advanced stages of development and VB Devices is seeking commercial partners globally.

Incapto

Debt Financing in 2021
Incapto, S.L., founded in 2020 and based in Barcelona, Spain, specializes in manufacturing coffee-making machines that utilize ground coffee instead of capsules, thereby minimizing waste and reducing the overall cost per cup. The company's innovative coffee system is designed to offer consumers the authentic taste of coffee while promoting environmental sustainability by eliminating the need for aluminum capsules. In addition to its coffee machines, Incapto provides a subscription service for coffee beans, allowing customers to enjoy a diverse range of coffee varieties conveniently and affordably.

Nectios

Debt Financing in 2021
Copernic has developed the first collaborative and modular web platform which allows you to have control of the entire value chain of your project, from suppliers to customers, from conception to production! With Copernic it is easier to create anything, from websites to rockets! They aim to help companies with the creation, management and development of projects through the use of their B2B SaaS all-in-one Agile Engineering Business Suite. At Copernic they believe advanced features shouldn’t come at the expense of usability, as much as they believe simplicity should never be compromised by scalability.

Kintai

Debt Financing in 2021
Kintai's a lending platform aiming to help small and medium companies with their funding needs. Based on a merchant cash advance model, companies can return their loans on a daily basis with low frictionless amounts.

Taclia

Debt Financing in 2021
Developer of a facilities management platform designed to help service companies to concentrate all their business in one place. The company's platform can be used to hire, manage, control, and track all maintenance, repair tasks, and expenses in real-time, enabling clients to have fast, optimized, and valuable facilities services.

oct8ne

Debt Financing in 2021
oct8ne's proprietary co-viewing technology allows eCommerce companies to provide customers with a personalized in-store experience online. Agents and customers view and search for products together, creating opportunities for increased sales as agents upsell/cross-sell in real-time. Unlike traditional live chat services designed to provide customer service, oct8ne equips agents with tools to engage in personal selling while providing product expertise over the phone or chat. Post-visit sales intelligence/analytics allow companies to continuously optimize their sales process.

Nuclio Digital School

Debt Financing in 2021
Nuclio Digital School is the business school of Nuclio Venture Builder, the startup incubator driven from Barcelona by Carlos Blanco. Their main objective is to create and renew profiles for the real requirements of the industry, so that they ensure that these profiles come prepared to be productive from the first moment in any company that requires them. They lead you through the most important pillars of the Digital Economy, from its foundations in programming to the world of business through technology, entrepreneurship of new ideas and business models. Nuclio Digital School offers a transversal training that allows you to go from a Beginner level to an Expert level in Programming, Blockchain, BigData, Digital Marketing, Business Innovation, etc.

Top Doctors

Secondary Market in 2021
Top Doctors is a globally recognised market leader in the international medicine and e-Health sector. The company represents over 60,000 of the world’s top physicians, and uses the latest innovation and technology to bring them closer to the patients. Top Doctors represents doctors in the US, Europe and Latin America. The company has become a reference for providing trustworthy and up to date information on choosing leading national and international medical professionals, covering the full range of specialties and all the latest medical treatments. The company accounts for over 1 million users on its site per month, and it has satisfied over 10 million patients’ needs when selecting the best doctors from all around the world.

Bigle Legal

Seed Round in 2021
Bigle Legal is a Barcelona-based start-up specializing in cloud-based software that automates the management of legal documents for companies and professionals. The platform streamlines the processes of creating, reviewing, sharing, signing, and storing legal documents, which helps mitigate human errors and enhances efficiency. By offering features such as affordability, customization, and cloud storage, Bigle Legal enables clients to save both time and money while effectively managing their legal workflows. The company's innovative approach aims to transform how organizations handle legal documentation, making the process more accessible and reliable.

Kubbo

Debt Financing in 2021
Kubbo is a B2B e-commerce fulfillment startup that enables brands and their customers to access same-day deliveries.

iVoox

Debt Financing in 2021
iVoox Global Podcasting Service, S.L. is a Barcelona-based company founded in 2010 that operates an online platform for audio content. It allows users to listen to, download, and share a wide range of audio materials, including podcasts, radio shows, audiobooks, and monologues across various categories such as history, sports, humor, business, technology, and news. The platform provides personalized recommendations and allows users to subscribe to an unlimited number of podcasts across multiple devices, including iOS and Android. Additionally, iVoox enables users to synchronize their preferred audio content with smart devices, facilitating access from anywhere. The company also focuses on marketing, distribution, and monetization solutions for content creators, enhancing the overall experience for both listeners and producers.

Classpack

Seed Round in 2021
Classpack is a pioneer in manufacturing and marketing 100% bio-based packaging solutions and eco-efficient equipment.

Inbrain Neuroelectronics

Series A in 2021
Inbrain Neuroelectronics is a medical device company based in Barcelona, Spain, founded in 2019. The company focuses on developing and commercializing innovative graphene neural interfaces and intelligent neuromodulation systems aimed at treating brain disorders. By utilizing graphene technology, Inbrain creates high-density, full implantable platforms that can decode and modulate brain activity with precision. These advanced neural systems are designed to detect specific biomarkers related to therapies and to trigger targeted adaptive responses, thereby optimizing therapeutic outcomes for patients. Inbrain Neuroelectronics is dedicated to advancing the fields of neuro and bioelectronics through its cutting-edge solutions.

Inbiomotion

Venture Round in 2021
Inbiomotion SL, a personalized medicine company, develops biomarkers that predict bone metastasis to improve the quality of life of cancer patients. The company focuses on the development of a diagnostic assay based on a selective single gene/protein biomarker that predicts those patients at risk of suffering bone-specific metastases from primary tumors. It develops biomarker in breast cancer primary tumors for predicting the risk of bone relapse. Inbiomotion SL was founded in 2010 and is based in Barcelona, Spain.

Paymefy

Convertible Note in 2021
Paymefy provides AI debt collection solution which helps you recover more money faster and at a lower cost.

oct8ne

Debt Financing in 2020
oct8ne's proprietary co-viewing technology allows eCommerce companies to provide customers with a personalized in-store experience online. Agents and customers view and search for products together, creating opportunities for increased sales as agents upsell/cross-sell in real-time. Unlike traditional live chat services designed to provide customer service, oct8ne equips agents with tools to engage in personal selling while providing product expertise over the phone or chat. Post-visit sales intelligence/analytics allow companies to continuously optimize their sales process.

ForceManager

Debt Financing in 2020
ForceManager is the all-in-one sales accelerator platform for field sales teams. In order to improve results and increase sales activity, the system offers a native application for smartphones, tablets and the Apple Watch that tracks and provides contextual information when on the move, allowing sales reps to work efficiently and focus on selling, not on reporting. With ForceManager, sales managers also get real-time insights into their sales team's activity. By receiving detailed statistics that accurately reflect all interactions between sales teams and customers, managers make better decisions and increase quarterly revenue.

Kriim Natural Cosmetics

Debt Financing in 2020
Kriim Natural Cosmetics SL designs and produces personal organic products. It offers capillary, facial, bodily, makeup, and accessories online. The company was incorporated in 2017 and is based in Barcelona, Spain.

Carnovo

Seed Round in 2020
Carnovo Digital, SL operates an online platform based in Barcelona, Spain, designed to streamline the process of purchasing new cars. Founded in 2016, the platform allows users to compare various deals, enhancing transparency and convenience for both car buyers and dealers. By focusing on the customer experience, Carnovo aims to simplify the automotive purchase process, enabling buyers to save time and money. Partnering with Carnovo allows car dealers to increase their sales beyond traditional showroom limits while minimizing cost inefficiencies and improving stock turnover. This collaboration ultimately enables dealers to present more attractive offers to potential buyers.

Goin

Venture Round in 2020
Goin is a mobile application to save money easily and take advantage of it without knowing how to invest, through Machine Learning algorithms that allow you to accumulate the user's money through small daily gestures. he three Spanish founders, David, Carlos and Gabriel, were looking for a way to optimize their own money, and decided to conduct an experiment by exchanging their debit cards and thus saving 62% during those two months of rehearsal. This is how Goin emerged, which aims to meet the needs of 100% of Millennials, of which 83% confess that they do not know how to save, making available an easy-to-use tool that enhances their finances and lifestyle. On the one hand, the Barcelona startup allows the user to add money automatically and multiply it without having previous knowledge of investment. Goin uses a simple system that first asks to know the user through questions about their habits and, in this way, they are offered automatic systems and methods of saving. Once the user adds money to the app, they can transfer part or all of it to investment, or to their bank account. Its Smart Saving technology manages to accumulate money with small, everyday gestures, such as rounding a payment.

Inbrain Neuroelectronics

Seed Round in 2020
Inbrain Neuroelectronics is a medical device company based in Barcelona, Spain, founded in 2019. The company focuses on developing and commercializing innovative graphene neural interfaces and intelligent neuromodulation systems aimed at treating brain disorders. By utilizing graphene technology, Inbrain creates high-density, full implantable platforms that can decode and modulate brain activity with precision. These advanced neural systems are designed to detect specific biomarkers related to therapies and to trigger targeted adaptive responses, thereby optimizing therapeutic outcomes for patients. Inbrain Neuroelectronics is dedicated to advancing the fields of neuro and bioelectronics through its cutting-edge solutions.

Zinklar

Venture Round in 2019
Zinklar is the Agile Market Research platform that helps you make safer and smarter business decisions. The company delivers results in real-time and turns Market Research into an everyday solution for brands globally. It offers a product traditionally acquired via Market Research Agencies on a yearly subscription basis. Zinklar is designing the survey using the online editor with guides and templates, and question types include multiple-choice, rating scales, open responses, and the option to add images, video, or audio. They viewing and analyzing results in a dashboard with charts, tables, and raw data.

GoodGut

Debt Financing in 2019
GoodGut SL is a company based in Girona, Spain, that specializes in developing products and analytical systems aimed at providing diagnostic support and therapeutic treatment for digestive diseases. Established in 2014, GoodGut is committed to not only advancing healthcare solutions but also to environmental sustainability. The company actively engages in waste management practices and employs intelligent inventory management to minimize unnecessary consumption and reduce product expiration. Through its innovative approaches, GoodGut aims to improve patient outcomes while contributing positively to environmental preservation.

Photoslurp

Debt Financing in 2019
Photoslurp is a visual commerce and marketing platform that assists brands in leveraging customer-generated photos from social media to enhance their marketing efforts. The platform enables brands to curate, display, and analyze these images while managing media rights, transforming them into shoppable content. By utilizing customer photos on product pages, brands using Photoslurp have experienced a notable 30% increase in conversion rates, along with enhanced engagement metrics. Additionally, Photoslurp offers analytics tools that help brands identify the most effective photos and their most influential advocates, facilitating targeted marketing strategies.

Vytrus Biotech

Series A in 2019
Vytrus Biotech SL engages in development, production, and commercialization of active ingredients from plant stem cells. The company offers cosmetic products such as plasma rich in cell factors and phyto peptidic fractions; dermatologic products; and tailor made products. Vytrus Biotech SL was formerly known as Phyture Biotech SL and changed its name to Vytrus Biotech SL in 2016. The company was founded in 2009 and is based in Barcelona, Spain.

Worldcoo

Debt Financing in 2019
Worldcoo is the European social company based in Barcelona, aimed at funding NGO solidarity projects through omnichannel committed companies (ecommerce, banks or retailers). In ecommerce, it achieves that by integrating a check-box in ecommerce’s shopping cart, which allows customers to donate 1€ while performing any online transaction. Its goal is to help people in need and make together a better world. Worldcoo was founded on 2012 and is based in Barcelona, Spain.

refruiting

Debt Financing in 2019
REFRUITING SL owns a platform through which it distributes fruits to offices. The company’s provides fruit basket, drinks, cut fruit and skewers, nuts, cereals, Christmas baskets, and breakfast. It also provides catering services for events and presentations. REFRUITING SL was founded in 2015 and is headquartered in Barcelona, Spain.

Typs

Debt Financing in 2019
Typs Global S.L., founded in 2019 and based in Barcelona, Spain, develops a salary-on-demand software that provides employees with real-time access to their earned wages. This innovative application enables employees to view their daily earnings and transfer funds as needed, thus promoting financial wellness and reducing reliance on payday loans. By offering this benefit, companies can enhance employee retention and attraction while fostering a stronger emotional connection between employees and their employers. Typs operates as a subsidiary of Hastee Technologies Ltd., positioning itself as a unique solution in the market that helps organizations improve productivity and differentiate themselves through enhanced payroll transparency and employee support.

Enertika

Private Equity Round in 2019
Enertika is a prominent consulting firm in Spain specializing in energy efficiency. The company focuses on developing projects aimed at reducing energy consumption, operating under the Energy Service Company (ESCo) business model, where investments are recouped through the savings generated. Enertika offers a range of services that include optimizing energy costs through advanced technology solutions for lighting, climate control, industrial processes, and distributed energy generation. By providing consumers with access to clean energy at competitive prices, Enertika plays a crucial role in promoting sustainable energy practices.

myWorkUp

Debt Financing in 2019
myWorkUp Services, S.L. provides retail and trade marketing services. Its platform automates and controls the entire process of actions before, during, and after execution of campaign. The company was incorporated in 2015 and is based in Barcelona, Spain.

Pastisart

Private Equity Round in 2019
Pastisart is produces a wide variety of frozen bakery and bakery products with the best ingredients and with a high quality guarantee.

Science Bits

Venture Round in 2018
Science Bits provides teachers with lessons that help them teach science in a way, which engages their students. The company is founded in 2011 and is based in Barcelona, Spain.

Vytrus Biotech

Equity Crowdfunding in 2017
Vytrus Biotech SL engages in development, production, and commercialization of active ingredients from plant stem cells. The company offers cosmetic products such as plasma rich in cell factors and phyto peptidic fractions; dermatologic products; and tailor made products. Vytrus Biotech SL was formerly known as Phyture Biotech SL and changed its name to Vytrus Biotech SL in 2016. The company was founded in 2009 and is based in Barcelona, Spain.

Devicare

Debt Financing in 2017
Devicare designs point-of-care medical devices that monitor, diagnose and treat chronic diseases. The company's medical devices are useful in measuring the level of biomarkers in body fluids such as saliva, tears, sweat, sputum, feces, urine or blood, enabling medical professionals to detect and treat various infectious diseases.

Voztelecom

Venture Round in 2017
VozTelecom develops software to enable Voice over Internet Protocol (VoIP) services over Internet. The company's products include miVoz.net, personal IP telephony service; intraVoz.net, local area network (LAN) IP telephony service with enhanced features; extraVoz.net, a hosted IP telephony service; vozConference.net, a hosted Web-conference service with enhanced collaboration features; and wifiVoz.net, application that enables the usage of VozTelecom service through any wireless terminal. Voz has strategic alliances with Interxion, Cisco Systems, Iptel.org, SIP Phone, Jasomi Networks, Midworld Networks, and Endercom. The company was founded in 2003 and is headquartered in Cerdanyola, Spain.

Mind the Byte

Debt Financing in 2016
Mind the Byte is a bioinformatics company that develops and provides software for computational drug discovery using Big Data and Machine Learning (AI) approaches. We work with partners on a consultancy basis or offer an easy to use Software as a Service (SaaS) package to allow clients to apply the High-performance computing platform on a flexible pay-per-use basis without investment in hardware or software licenses. Mind the Byte has developed a versatile set of applications using cloud computing which lowers the entry barrier to the technology. Mind the Byte is an Amazon Web Services technology partner - a seal of quality that has only been awarded to five companies in this sector – to ensure security and reliability. The company was founded in 2011 by Alfons Nonell-Canals, a specialist in computer-aided drug design and in large-scale chemical and biological analyses, and has since expanded with an experienced staff. The company is located at the Barcelona Science Park and Copenhagen Bio Science Park.

Agile Content

Venture Round in 2015
Creating Digital Empathy for an Agile world. Operating for over a decade now with offices in Barcelona and São Paolo, Agile Content has been at the forefront in the TMT space providing broadcasters, media houses, telcos and cable operators with its proprietary OTT CMS offering, Ads Monetization and Value Added Media services, which are co-produced content with brands like Turner, Bloomberg and Warner. How have our services helped our clients: *reduction of churn *increase in millions of dollars of new revenue * > 100m consumers * >200m monthly page impressions in over a dozen countries with more than a score of clients that include the likes of Telefónica, RTVE, Cope, America Móvil, AT&T etc.

Oryzon Genomics

Venture Round in 2015
Oryzon Genomics S.A. is a clinical-stage biopharmaceutical company based in Cornellà de Llobregat, Spain, specializing in the discovery and development of epigenetics-based therapeutics primarily for oncological and central nervous system (CNS) disorders. The company is recognized as a European leader in this field and emphasizes personalized medicine approaches. Its lead compounds include iadademstat, a selective LSD1 inhibitor currently undergoing Phase II trials for oncology, and vafidemstat, a CNS-optimized LSD1 inhibitor also in Phase II trials, targeting CNS and psychiatric diseases. Additionally, Oryzon is developing ORY-3001, another LSD1 inhibitor in preclinical stages aimed at treating non-oncological diseases, alongside other innovative programs at various developmental stages. Founded in 2000, Oryzon Genomics remains committed to advancing therapeutic options through its expertise in epigenetics.

Lleida

Venture Round in 2015
First Operator Certification Lleida's mission is to: provide security, reliability, efficiency and profitability in electronic communications companies, governments and individuals, directly influencing the improvement of results. Innovate to meet the needs of their customers, get growing and sustainable returns for our shareholders and facilitate the professional development of their employees.

AB-BIOTICS

Venture Round in 2012
AB-Biotics is a biotechnology company based in Barcelona, Spain, founded in 2004. The company specializes in the research, development, and distribution of its own biotechnological solutions, focusing on a diverse range of probiotic products. Its offerings include cardiometabolic products like AB-LIFE and AB-Fortis, oral care products such as AB-Dentalac and AB-Dentalac Pro, and pediatric solutions including AB-Kolicare and AB-Digest Kids. Additionally, AB-Biotics provides products for gastrointestinal health, women's health, and immune support, as well as dermatological and immunological products. The company also features Neuropharmagen, a precision medicine platform for psychiatry, and offers genetic testing services tailored to behavioral health, pain management, fertility, and urology. Through its innovative approach, AB-Biotics aims to establish a benchmark in the European biotechnology sector for quality and profitability.