Private Equity: Venture Capital | Europe

Gómez-Acebo & Pombo maintains strong venture capital capabilities spread across key teams in Barcelona, Madrid and New York, with a client list that consists of major Spanish and US funds. The team advises on funding rounds in favour of startups in the IT, fintech and food sectors. It acts for Spanish companies seeking to buy foreign, VC-owned competitors. The law firm has won roles on several mid-cap and larger transactions carried out by investment managers, including those targeting the energy sector or real estate assets, also acting for portfolio companies on add-ons.

Osborne Clarke is recognised as an important venture capital practice headquartered in Barcelona, which offers particular experience in transactions targeting IT, ed-tech, digital health, media or technology companies. The law firm acts for emerging companies on their investment rounds, as well as on the investor side. Its client roster features international funds as well as domestic startups.

Cuatrecasas offers a wide-ranging practice advising on a variety of mandates in the funds sphere. The law firm often acts for corporate clients that are the targets of private equity investment, including experience on the buy side of standout transactions that have significant Latin American or Portuguese considerations, with a proven track record in direct lending transactions. Key individuals in the team advise on regulatory and corporate questions pertaining to the establishment and distribution of diverse alternative investment funds, including European long-term investment funds or debt funds. Cuatrecasas is also well equipped to assist clients with venture capital financing rounds.

Pérez-Llorca benefits from an extensive domestic footprint and assists national and international funds that are active in Spanish private equity and venture capital transactions, often with a cross-border dimension. The law firm acts on mid-cap acquisitions on behalf of important Spanish asset management companies. Additionally, it handles portfolio management mandates, including post-acquisition mergers. The group is also noted as a strong choice for entrepreneurs looking to raise capital and scale up, regularly acting on all series fund-raisings. It also assists venture capital funds with their early-stage and growth capital investments. The team further advises on the structuring of partial exits, in which selling funds maintains a minority stake in portfolio companies following secondary sale processes.

Across legal is a well-established boutique law firm with a strong footprint in Barcelona. The team is often instructed by Spanish entrepreneurs to advise on early-stage venture capital investments. It provides further experience assisting with the sale of VC-backed companies. The law firm also acts for domestic venture capital funds participating in funding rounds. It regularly advises startups from the technology, e-commerce and fintech sectors.

Garrigues draws from a strong bench of transactional experts who regularly act for private equity firms on LBOs, carve-outs, add-on acquisitions and sales. The department is well suited to handle transactions that draw on the knowledge and skills of lawyers based in smaller Spanish cities. The law firm provides wider services to private equity clients through its expertise in finance, restructuring, tax and disputes. The firm is also well placed to handle fund formation matters, including the structuring of alternative funds and regulatory issues. Garrigues also enjoys a strong presence in venture capital mandates, with a solid track record in equity deals carried out by several of the key venture capital firms investing in Spain.

AKTION is a boutique law firm in the venture capital space headquartered in Valencia with extensive experience representing both emerging companies and venture capital funds in their investments in Spain. The law firm regularly advises clients from the technology, innovation, blockchain, cryptocurrency and IT sectors. It predominantly supports Valencia-based startups throughout their life-cycle, including the fundraising process of the company. The team is seen acting in early-stage funding rounds from international and domestic investors as well as angel investing.

Bilbao-based Lawesome is well regarded for venture capital work, advising a range of target companies, particularly from the tech sector. The lawyers also assist venture capital funds with investments as well as venture capital-backed company M&A transactions. The practice regularly advises on funding rounds.

Zurbarán Abogados handles investments and transactions on behalf of tech startups and also represents venture capital firms. The team also handles deals in the manufacturing and life sciences sectors. The law firm has offices in Madrid, Seville and Zaragoza.