4Founders Capital is a Barcelona-based early-stage venture capital firm launched in 2017 by a group of seasoned tech entrepreneurs. With roots in some of Spain’s most notable startups, the firm targets ambitious founders building the next wave of tech companies from Southern Europe.
In January 2026, 4Founders Capital launched its first sector-focused vehicle, 4Founders Capital Hospitality, with a €60 million target and a six-year lifespan. This fund marks a strategic move beyond traditional tech VC, combining real estate with operational tech upgrades.
The fund aims to acquire and manage around 15 hotels across Tier 2 cities in Spain—areas with consistent tourist demand but less saturation than major urban centers. The model blends revenue from hotel operations with real estate appreciation, supported by tech-driven operational efficiency.
Target IRR is 18% per asset, with net IRR for investors expected to exceed 12% over a 3-4 year horizon. The fund’s investment strategy is led by Enrique Domínguez, founder of Gaiarooms, who brings deep hospitality operations experience to the table. This hospitality fund sits alongside their third generalist tech fund, which raised €44 million in 2025 toward a €65 million target, focused on backing 40 early-stage tech startups with tickets between €250K and €2M.
Leadership
The firm was founded by Jesús Monleón (Trovit), Marc Badosa, Marek Fodor (Atrápalo), Javier Pérez-Tenessa (Edreams), and Paula Blázquez. The partners combine deep operating experience with strong access to the Spanish and European tech ecosystems.
Investment Strategy
4Founders Capital follows a founder-first, high-conviction approach. The generalist tech fund backs early-stage startups with scalable business models, while the hospitality fund applies a hands-on investment strategy in hotel assets that benefit from tech-enabled management improvements and real estate upside.
Notable Investments
4Founders has backed a wide range of early-stage Spanish startups across verticals including SaaS, travel, fintech, and marketplaces. It has a strong track record of identifying under-the-radar founders and helping them scale internationally.
Notable Exits
Past exits include companies acquired or scaled by major European players, although specific names tied to recent funds have not been disclosed publicly.
Other
The firm is one of Spain’s most active early-stage VCs, known for leveraging its founding partners' entrepreneurial backgrounds to support portfolio companies post-investment. With its new hospitality fund, it’s now expanding into asset-backed and tech-enabled investments beyond software.
Spain
