00:04:28 · Carlos Trenchs Sainz de la Maza
[00:04:28] S1: So my previous experience, as you know, I co founded Aldea Ventures, that is one of the largest, I would say South European fan of funds, And we back emerging managers, no? So what we realized when we were in Aldea is that the new generation of, VCs, that back, precede and sit rounds, were mostly focused on those, I will say, established ecosystems. London, Paris, Berlin, Munich, Zurich, a little bit on the on the Nordics. So outside this ecosystem, you know, they only invest opportunistically. And and we saw clearly an opportunity to connect. So I start, no, as I did angel investing, no? So identify one founder and instead of putting my money, so let's connect with this, I would say, two, three specialized funds. And if they decide to invest, I will co invest with them. So I started doing this one, two, three times, you know, and it happened. So I saw an opportunity to say, look, there is an opportunity to scout locally, you know, and connect internationally. And at the same time, if any of these funds, no, have a portfolio company with a founder that wants to be relocated to the city, we can help them, no, to to to better. So I start sharing this vision, no, among other people? No? You know my friend, Tidak Lee, no, and other, I would say, well known individuals in in in the city. And everyone realized the same. So we decided, okay, let's start the fun, no, and let's pitch, no, to other individuals that think things the same. No? So I think that, we started with the first 20. With the first 20, we we did the first close of the fund. And we start doing investments, no, at the same path as we were adding other other LPs. No? So finally, in July, we closed the fund with this 18,000,000, 70 plus individual investors. And but at the time we have now 45 portfolio companies. So I think that we built in parallel, the fundraising process and the portfolio construction.
00:06:31 · Sebastian Johnson
[00:06:31] S0: It talks to a bit about the portfolio because you've already got some companies within the portfolio that have gone on to raise some mammoth rounds from some of the best investors in the world. Can you maybe pick out a few of those most exciting companies?
00:06:45 · Carlos Trenchs Sainz de la Maza
[00:06:45] S1: Yeah. So I can put you these three examples of three different companies. One could be Bayors. Bayors is AI for health and they are, I would say, disrupting the I would say, the processes, no, among drug discovery and other things. This is a clear example of international talent landing in the city. So in this case, one fund that was backed by Aldea decided to invest, no, in a Portuguese guy, no, moving to Barcelona. And and we we co invest and we help him, no, to to to better land in the in the city. No. So Bayors is is amazing. Today, Bayors is they are around 200 people. Officers, not only in Barcelona, also in Austin and New York. They raise a well known series A and and and is growing, growing very, very fast. A clear example of AI and health that probably are two areas where Barcelona is is is quite is quite strong. This is one one example. And another example probably is Prosper. I don't know if you know the the guys. These are two Catalan guys, living in New York. And and they do, also AI, but for, I would say, the healthcare, hospitals, no, and and and systems, And how to improve processes there. In this case, the company is an American company. They have super investors, the tier one investors in The US. But they also create a subsidiary in Barcelona with all the tech, people created here. So we also were lucky to to co invest of them. And another possibility is, local people. Is a company in Spain called, Format, for instance. People, they do AI for fashion. So they are working today for most of the most of the well known brands, no, and helping them not only on the design process, but also on the manufacturing side. So three examples, no, of Catalans building here, international talent landing here, no? And and and in this case, people in the world know with links in in Barcelona that raise, I will say, from, I will say, well known fans. And we help them, no, to better connect, no, in this in this ecosystem.
00:09:06 · Sebastian Johnson
[00:09:06] S0: And talk to me about Masia House. This is like a really exciting thing that you've just announced. What is it? Who's it for? So
00:09:13 · Carlos Trenchs Sainz de la Maza
[00:09:13] S1: as I mentioned, our role, we are a tiny fan. So 80,000,000 is nothing, no, compared with the big numbers, no, that are announced. But the idea for us is we want to be quality relevant. So the idea is be able to participate in the best companies, no, in in connected with this ecosystem. So how we can do it? No? We can do it if we can help them to better connect. And to connect, having a physical space is is is relevant. So, we we finally decide to to to to have a house in the in the city center of Barcelona. It's a it's a fantastic facility because it belonged to a designer and and and the thing is is fantastic. So if anyone is coming to Barcelona, please visit us. But the idea is to to have a space where we have a venture capital residency program. So we have a space where international funds have their office, no, in the in the city. So they have a private bedroom with a toilet and with desk and so they can receive and stay with us. When they are in the city, we have a fantastic dining room. We have facilities and a garden where we organize off-site things. The main idea is to put together the commodity. If you have 70, individual LPs, no, we have 45 in this moment portfolio companies that probably we will arrive 65 in in in two quarters. And we have more than 60 international VCs that have co invested with us in the city. When all these people are together, no, being able, no, to to to meet in one place, no, and and to do things together make make a lot of sense. And also we are thinking, no, to to expand, no, the other activities in Masia House for potential new founders, help them to better connect, no, with with with with investors and with experience.
00:11:10 · Sebastian Johnson
[00:11:10] S0: And so it's, I think it's an amazing thing to do. Right. And I'm personally super excited to come in and check it out and have a look. Why was this something that was like that you wanted to do? And why not? Know, because you're right, this is in your first fund relatively small compared to how it could get some of other funds. Why was this the right time? And why would you why did you want to do it?