Zubi Capital

Zubi Capital is a Madrid, Spain-based impact investment manager founded in 2020 and operating as the investment arm of Zubi Labs (founded by Flywire's Iker Marcaide). The firm invests in European, and selectively global, early- and growth-stage technology companies addressing structural challenges across climate, industrial decarbonization, health, social inclusion, financial inclusion, and the circular economy. Zubi manages two regulated vehicles: an Impact Venture Debt fund (target size €40M) writing tickets of €500,000 to €2.5M into Series A pan-European companies with roughly €1M+ in revenue and a near-term path to break-even, and the Diversity Catalyst venture capital fund, which backs pre-seed and seed-stage startups led by diverse teams with initial tickets of €100K–€500K. In November 2025, the firm secured an €8M commitment from Spain's SETT (Sociedad Española para la Transformación Tecnológica) under the Next Tech facility, becoming the first Spanish impact manager to receive such backing. Portfolio companies include Matteco, Recovo, Abvance Therapeutics, and Bcas.