Question 1

What stage does Eoniq invest in?

Accepted Answer

Pre-seed and seed. We back founders with a working product, early signals of demand and the ability to sell.

Question 2

How much does Eoniq invest?

Accepted Answer

€100k–€250k initial cheque, with €100k as the typical first investment. Significant follow-on capital is reserved for the companies that are working.

Question 3

Does Eoniq invest outside Madrid and Barcelona?

Accepted Answer

Yes. Over half of our recent dealflow comes from outside Madrid and Barcelona — Andalucía, Valencia, Galicia, País Vasco, Murcia, Baleares and Castilla y León. Founder location does not decide our investment.

Question 4

Does Eoniq invest in AI startups?

Accepted Answer

Yes. AI is one of the largest sector clusters in our portfolio. We back AI-native companies and AI-applied companies, as long as the technology produces real commercial leverage.

Question 5

Does Eoniq invest in SaaS companies?

Accepted Answer

Yes. SaaS is a major theme — B2B SaaS with clear retention and a path to capital efficiency is a strong fit.

Question 6

Does Eoniq lead rounds?

Accepted Answer

We can lead, co-lead or follow. We choose based on round structure, founder preference and where we add the most value.

Question 7

How long does due diligence take?

Accepted Answer

Typically 6–8 weeks from first conversation to term sheet, faster when materials are ready and the founder is organised.

Question 8

What information should founders provide?

Accepted Answer

Deck, brief written summary, current MRR or revenue, customer count, team CVs and use of funds. Detail beats polish.

Question 9

What makes a startup attractive to Eoniq?

Accepted Answer

Real customer pain, a founding team that ships and sells, a clear path to scalable unit economics, and technology that gives the business durable leverage.

Question 10

Does Eoniq invest outside Spain?

Accepted Answer

As long as the founders are based in Spain we have no problem investing in their projects. What we need is to be close geographically so we can grab a coffee or a beer together. As long as the CEO is based in Spain, that works for us, even if other founders are living elsewhere.

Question 11

Can first-time founders apply?

Accepted Answer

Yes. We have backed many first-time founders. What matters is founder-market fit and the ability to ship and sell, not pedigree.

Question 12

Do you support future fundraising?

Accepted Answer

Yes. We actively make investor introductions for Series A and beyond, and help founders shape the narrative, model and process.

Question 13

Will you sign an NDA?

Accepted Answer

No. We see hundreds of decks; signing NDAs at first contact is operationally impossible and not how the industry works. Your IP is safe — we don't share decks.

Question 14

What valuations do you typically invest at?

Accepted Answer

Pre-seed and seed valuations consistent with the Spanish market: typically €2M–€8M post-money depending on traction and round structure.

Question 15

Do you invest in pre-revenue startups?

Accepted Answer

We strongly prefer evidence of demand. Pre-revenue is possible when the founder has unusual founder-market fit and a credible path to first paying customers within weeks.

Question 16

Do you invest in solo founders?

Accepted Answer

Yes, when the founder is exceptional and has a credible plan to add a co-founder or first key hire quickly.

Question 17

What sectors do you avoid?

Accepted Answer

Pure speculation, businesses that scale only by adding people, projects without commercial validation, and traditional services with no technology leverage.

Question 18

Do you invest in deep tech or research-heavy startups?

Accepted Answer

Yes, when the team has a clear commercial wedge within 12–18 months. Pure research without a route to paying customers is outside our remit.

Question 19

What's the fastest path to a decision?

Accepted Answer

Send a tight deck plus one paragraph explaining why now, why this team, and why this market. If we're a fit we move fast.

Question 20

Do you offer convertible notes or only equity?

Accepted Answer

Either. We commonly invest via SAFE or convertible at pre-seed and priced equity at seed. Structure should serve the company, not the fund.

Question 21

Do you charge fees or take warrants on top of equity?

Accepted Answer

No fees beyond standard legal. No warrants. Our return comes from being right about the company.

Question 22

What support do you give around hiring?

Accepted Answer

Direct introductions to senior operators and engineers via our advisor and board network, plus structural help on org design at first 10–25 hires.

Question 23

Do you reserve capital for follow-ons?

Accepted Answer

Yes. Significant capital is held back specifically to follow our best performers across multiple rounds.

Question 24

Are you active investors or hands-off?

Accepted Answer

Active but not intrusive. Monthly check-ins by default, on-call when needed. We work for the founder, not the other way around. That said, we need monthly or quarterly reports to know how to help our portfolio companies.

Question 25

Do you require pro-rata rights?

Accepted Answer

Yes, in most rounds. Pro-rata is how we maintain a meaningful position as the company scales.

Question 26

How many companies do you back per year?

Accepted Answer

Eoniq Fund II will invest in 50 new investments over its investment period, balanced with follow-on capacity. We typically make one new investment per month.

Question 27

Do you co-invest with angels and other VCs?

Accepted Answer

Constantly. We work alongside angels, family offices and other VCs in nearly every round. What's more, all the companies we invest in are typically proposed as direct investments to our LPs.

Question 28

How should I reach out?

Accepted Answer

Email the team directly or apply via the For Founders page. Cold inbound is read. Warm intros help but are not required.

Question 29

What happens after a 'no'?

Accepted Answer

We tell you why, in writing or on a call. Founders we passed on often come back later with new traction; we always re-engage.

Question 30

Do you invest in second-time founders raising again?

Accepted Answer

Yes, often. Repeat founders with operating scars are some of our highest-conviction bets.

Question 31

Where is Eoniq based?

Accepted Answer

Our team operates from Sevilla, with active presence across the country. We travel to founders, not the other way around.

Question 32

Who runs the fund?

Accepted Answer

Eoniq is led by Tom Horsey, Vanessa Galindo, Jerónimo Béjar and Alex Sajwani, alongside a board of directors including ex-BBVA, KPMG and senior AI leaders. See the Team page for full bios.

32 preguntas respondidas con honestidad.

¿En qué fase invierte Eoniq?

¿Cuánto invierte Eoniq?

¿Invertís fuera de Madrid y Barcelona?

¿Invertís en startups de IA?

¿Invertís en empresas SaaS?

¿Lideráis rondas?

¿Cuánto tarda la due diligence?

¿Qué información debe enviar el founder?

¿Qué hace atractiva una startup para Eoniq?

¿Invertís fuera de España?

¿Pueden aplicar founders primerizos?

¿Ayudáis con futuras rondas?

¿Firmáis NDA?

¿A qué valoraciones invertís?

¿Invertís pre-revenue?

¿Invertís en solo founders?

¿Qué sectores evitáis?

¿Invertís en deep tech o startups de investigación intensiva?

¿Cuál es el camino más rápido a una decisión?

¿Ofrecéis convertible o solo equity?

¿Cobráis fees o warrants además del equity?

¿Cómo ayudáis con la contratación?

¿Reserváis capital para follow-on?

¿Sois inversores activos o hands-off?

¿Pedís derechos de pro-rata?

¿Cuántas empresas invertís al año?

¿Co-invertís con angels y otros VCs?

¿Cómo os contacto?

¿Qué pasa tras un 'no'?

¿Invertís en founders repetidores?

¿Dónde está Eoniq?

¿Quién gestiona el fondo?

Tesis de inversión

Cómo invertimos

Para founders