Encomenda Smart CapitalThe Super Angel Fund

As Business Angels we have invested in the last 10 years in more than 100 early-seed startups, helping them in their critical business areas. Due to the excellent results from our investments, we wanted to go a step further and create Encomenda Smart Capital: a Super Angel Fund where we can invest more resources but with the same philosophy we had while being Business Angels.


Encomenda Smart Capital invests in early-seed digital startups based mainly in Spain. Our initial investment ranges from 70K€ to 300K€, with follow-on investments of up to 1M€ per company. Additionally, we provide our know-how and network to help entrepreneurs in making strategic decisions, scaling their companies, creating new business opportunities and preparing the companies for international funding rounds.

Merging the best from BAs and VCs

A Business Angel Philosophy

  • Hands-on approachWe are as active as our entrepreneurs requires us to be, helping them for free with our know-how and networking.
  • Fast executionWe make quick decisions without bureaucracy
  • Entrepreneur-orientedWe know what means to be an entrepreneur, we have been there before.

A Venture Capital Structure

  • Follow-on investmentsWe initially invest from 70K€ to 300K€, and can make follow-on investments of up to 1M€ per company.
  • Corporate networkWe are connected with corporate market-leaders.
  • International networkWe have strong connections with international venture capital funds.

Our investment principles

  1. Funders orientedInvest in teams and are 100% aligned with entrepreneurs
  2. Born local, grow globalProjects located in Spain with an international ambition
  3. From seed to growthHelp companies from the very beginning to scaling
  4. Smart capitalWe have been entrepreneurs ourselves
  5. Focused on digitalSaaS, marketplaces... Anything that is Internet-based
  6. Loving capital efficiencyBecause more funding does not correlate with success