Samaipata is a Madrid-based early-stage venture capital firm founded in 2016 by José del Barrio and Eduardo Díez-Hochleitner, two entrepreneurs who previously built and sold companies before turning to venture. The fund focuses on AI-native B2B startups across Europe, with a particular emphasis on application-layer AI companies that have the potential to become category leaders.
Samaipata backs AI-native B2B startups, primarily in Spain, Germany, France, and the UK. The fund focuses on the application layer of AI rather than infrastructure, supporting companies using AI to transform established industries. It has active technology partnerships with Nvidia, Anthropic, Microsoft Azure, and Google Gemini to provide portfolio companies with preferential access to AI infrastructure and tools.
Samaipata launched Fund III with a first close of €70 million toward a €110 million target in March 2026. Anchor LPs include Spain's SETT and Germany's KfW, alongside prominent Spanish family offices. The fund targets 25 to 30 companies at up to €10 million per startup over the course of the relationship, continuing Samaipata's model of concentrated conviction bets with deep ongoing support. The firm's total assets under management stand at approximately €250 million across three funds.
Leadership
José del Barrio is Founding Partner, previously co-founder and CEO of La Nevera Roja, Spain's leading food delivery platform sold to Rocket Internet for $100 million. Eduardo Díez-Hochleitner serves as Chairman, a former Partner at Apax Partners who also founded IMM Sound (acquired by Dolby) and currently chairs MásMóvil. Luis Garay is Partner and leads the investment team. Alberto Cuevas is Partner and leads the Founder Success platform, with experience building operations at top tech companies.
Investment Strategy
Samaipata invests at Seed and Series A stages, writing checks of up to €10 million per company across the relationship. The firm runs a Founder Success platform staffed by operating partners with experience at Anthropic, Google, Airbnb, Spotify, and N26, providing hands-on support in product, GTM, and talent. Samaipata also leverages its AI technology partnerships to give portfolio companies preferential access to compute and models.
Notable Investments
The portfolio spans B2B SaaS, fintech, and AI-enabled services:
Notable Exits
Other
Approximately 80% of Samaipata's Fund I portfolio companies reached Series A, and 60% of Fund II companies are on the same trajectory. Follow-on investors in the portfolio include Accel, Index Ventures, and Creandum. Samaipata operates as a founders' fund and explicitly positions itself as built by founders for founders.
Spain
