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Monday, April 15, 2024

KWM helps All Iron Ventures with launching its first fund of VC funds

King & Wood Mallesons has counselled All Iron Ventures (AIV) on launching its first fund of VC funds – named AIV Bilbao FDF I, FCR – for a value of over €30 million

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The new fund will primarily invest in established VC managers operating across stages, segments, and European regions. AIV aspires to provide a differentiated value proposition to the managers in which it invests, leveraging its operator and peer approach. With this new fund, AIV’s assets under management reach circa €140 million.

On its LinkedIn profile, the fund stated: “We remain of course 100% committed to investing in bold founders through our direct activity. The fund of funds program is an additional step in our bold vision to create a leading VC firm in Europe. We are deeply grateful for the confidence of the nearly 80 investors backing this €30M fund, which boosts our assets under management to almost €140M!”

Diego Recondo, partner and co-managing director of AIV, stated: “We are GPs ourselves and, as such, understand how the industry works and what we like to see in an LP. We aspire to build long-term relationships with the managers in which we invest and to provide them with meaningful value. In short, become one of those LPs that we would like to have as our own investors”

So far, the fund of funds has invested in eight funds from top-notch managers such as Hoxton, Left Lane Capital, Speedinvest, Crane and firstminute, among others.

KWM’s team was led by Funds partner Isabel Rodríguez and associate María de Orueta.

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