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Draper B1 Raises Over €20 Million for New Frontier Tech Fund

Madrid - Draper B1, a leading Spanish venture capital firm, has closed its latest fund Draper B1 Frontier Tech with over €20 million in commitments, the company announced. The new fund will focus on backing disruptive technologies that are redefining the future, from artificial intelligence to space tech and cybersecurity.

The raise underscores the growing investor appetite for exposure to Europe's burgeoning deep tech ecosystem. Draper B1 is tapping into this trend by leveraging its strong transatlantic network and expertise to identify the most promising startups with global ambitions.

"This new fund allows us to double down on our strategy of bridging the gap between Europe and the U.S. tech markets," said Draper B1 managing partner María Gómez. "We're seeing so much innovative potential in Spain and across the continent, but these companies need support to scale internationally. Our platform can provide that critical access and support."

More than 60% of the global software market is concentrated in the U.S., underscoring the imperative for European tech firms to expand stateside to become true global players. Draper B1's close ties to the Silicon Valley ecosystem, through its affiliation with legendary investor Tim Draper, gives its portfolio companies a major strategic advantage.

The fund has already made nine initial investments in disruptive startups, including Sycai Medical, Açai Travel, Collimate Space, Stowlog and 8layers. These companies span a range of frontier tech verticals, reflecting Draper B1's thematic approach to identifying transformative innovations.

The fundraise was backed by institutional investors FondICO Global and IVF, who are renewing their confidence in Draper B1's model. Additionally, over 70% of the fund's private investors are repeat backers, demonstrating the firm's consistent track record.

"Draper B1 has established itself as a driving force in European venture capital, with a unique ability to source and scale the most promising deep tech startups," said FondICO Global CEO Juan Ramón Flores. "We're excited to continue supporting their vision and look forward to seeing the impact of this new fund."