Tritemius Fund FCRE I has officially debuted as a specialized venture capital fund targeting early-stage Web3 startups, with an initial close of €21 million. Advised by Tritemius Capital and managed by Abante, a prominent Spanish financial advisory and wealth management firm, the fund positions itself as a pioneer in Spain’s blockchain investment landscape. With regulatory approval from Spain’s National Securities Market Commission (CNMV), it now stands as the country’s first and only regulated Web3-focused venture capital vehicle under the European Venture Capital Fund (FCRE) framework.
The fund primarily invests in startups at the Pre-Seed to pre-Series A stages, with an average ticket size of €500,000 per company. It also allocates capital for follow-on rounds, ensuring sustained support for portfolio firms as they scale. The investment strategy centers on startups involved in decentralized finance (DeFi), blockchain infrastructure, tokenization, privacy, and cybersecurity — sectors seen as central to the next phase of the digital economy.
Tritemius Capital, acting as both advisor and sponsor of the fund, has communicated its intention to bridge innovation across Europe, Latin America, and other emerging markets. The firm’s leadership has indicated that the fund was created to address a long-standing gap in blockchain investment, combining financial capital with strategic guidance and extensive industry connections for founders navigating the complex Web3 terrain.
The fund’s thesis is grounded in the belief that the convergence of regulatory clarity, institutional interest, and technological advancement is creating favorable conditions for Web3 adoption. The advisory team has pointed to emerging trends like zero-knowledge proofs (ZKPs), account abstraction, and intents as tools that enhance blockchain usability and scalability. Other priority areas include DePIN (Decentralized Physical Infrastructure Networks), decentralized social platforms, and cybersecurity solutions for decentralized ecosystems.
In evaluating potential investments, the fund places significant emphasis on the strength and vision of founding teams, along with market dynamics, competition, and the scalability of the business model. The team has expressed particular interest in ventures that not only exhibit strong growth potential but also address foundational challenges in decentralization and cybersecurity through innovative solutions.
The Tritemius Capital investment committee features seasoned professionals with deep industry expertise. Among them is Lluís Pedragosa Massó, whose experience spans over 15 years in venture capital across the U.S. and Israel, particularly in sectors such as fintech, cybersecurity, and Web3. Pablo Romero, with more than a decade in the crypto space and a background in BBVA’s Blockchain & Digital Assets division, adds further strategic insight. Also contributing is John Whelan, an independent advisor with a long-standing track record in blockchain innovation.
The fund’s leadership has emphasized the importance of understanding the nuances of the Web3 sector while remaining grounded in regulatory and institutional realities. They have expressed the view that startups should feel supported not only financially but also through shared vision and expertise, particularly in a sector that requires both deep technical knowledge and careful navigation of compliance environments.
With this launch, Tritemius Fund FCRE I is poised to shape the trajectory of early-stage blockchain ventures across Europe and beyond, serving as both a catalyst for innovation and a bridge to sustainable growth within a rapidly evolving digital ecosystem.
