King & Wood Mallesons has advised private equity firm Seaya Ventures on the launch of its Seaya Andromeda Sustainable Tech Fund I (Seaya Andromeda), its new venture capital vehicle set up in partnership with Iberdrola, Fond-ICO Next Tech and Nortia Capital, Manuel Lao’s investment vehicle. It is Spain’s first major technology fund to accelerate the energy transition and sustainability.
Seaya Andromeda, which already has investment commitments of €130 million, has a target size of €300 million and will invest primarily in European scale-ups related to sustainability, energy transition, electrification of the economy, sustainable agriculture and the circular economy.
The KWM´s team of lawyers involved in this project has been led by partners Isabel Rodríguez (Funds) and Germán Cabrera (Corporate). Other lawyers involved in the work were associates María Mata (Funds), Fátima García de la Torre (Corporate) and Laura Varela (Corporate).
Seaya Ventures is one of Europe’s leading venture capital firms, with stakes in Cabify, Glovo and Wallbox. Seaya has an extensive track record investing in technology companies in the energy, circular economy and agritech sectors.