Encomenda Smart Capital: the Super Angel Fund


We have been working in the startup industry for more than 20 years, launching our own companies, mentoring some of the most successful tech startups and investing as business angels in more than 100 projects.


Thus we have decided to go a step further and launch Encomenda Smart Capital: a fund where we keep investing in seed digital companies with further resources and money but the same philosophy that we had as business angels. We help entrepreneurs for free in making strategic decisions, scaling organizations, implementing financial planning, defining new business opportunities, seeking new talent, analyzing their main KPIs and preparing their companies for next funding rounds.


Our initial investment ranges from 70K€ to 300K€, and we can invest up to 1M€ per company.
Our philosophy

Our previous numbers as business angels and entrepreneursKey figures about us


Startups invested as BAs


Years in the startup ecosystem


Value created from invested companies

Our investment thesisWhat we look when analyzing a company:

Well-rounded teams


Seeking full-time dedicated founders, preferably with previous experience in other startups, with complementary profiles. 

Large markets


Investing in companies that operate in rapidly growing industries with large total addressable markets, excluding niche or local sectors.



Encomenda looks for already incorporated companies in Spain. We can invest 10% of our fund in Spanish entrepreneurs with their startup in the US / UK.

Initial metrics


Look for digital startups that have launched their products and validated them by getting their first growing revenues.



In few cases we invest in product development stages when we find second-time entrepreneurs or disruptive technologies (e.g. blockchain, AI).

Investment TeamAn all-star team that accumulates +20 years working with startups

Managing Partner

Carlos Blanco

More than 20 years in the startup ecosystem. Co-founder at Akamon (sold for $23M), Conector Startup Accelerator and Nuclio Venture Builder, among others.
Investment Associate

Mario Brassesco

Previously helped companies with public and private fundraising. Former entrepreneur at the age of 22.
Managing Partner

Oriol Juncosa

Former CFO at Carto and former Investment Director at Nauta Capital, having invested in the largest Spanish startup exits. Connections with all the largest international venture capitals in EU and United States.
Legal Manager

Esther López

Legal expert in tech startups. Esther has helped companies such as Cooltra, Logtrust and many more in the most relevant legal aspects of their businesses.
Investment Director

Miguel Sanz

Serial entrepreneur with two exits in his previous startups. 8 years of experience as auditor of venture capital firms and their invested companies.

Looking for Smart Capital?


If you are a Spain-based digital startup in the early-seed stage  we want to know about you! Fill this form so we can get a grasp of your project and contact you if you fit our investment criteria.