Four founders. Four funds. This could be the quick summary of the prolific trajectory of 4Founders Capital, a capital management firm based in Barcelona that, in less than a decade, has gone from betting on startups in very early stages to managing more than 130 million euros, consolidating itself as one of the reference venture capital vehicles for entrepreneurs throughout Spain. The firm now takes a new strategic step, diversifying its portfolio and entering the hotel sector with the launch of its fourth fund. This is the manager's first investment vehicle specialized in hotel real estate, with an investment capacity of up to 60 million euros.
The history of 4Founders Capital dates back to 2017, when four investors and entrepreneurs joined forces to create this new capital management firm, with the aim of investing in disruptive projects with a strong technological component, supporting them especially in early stages. The four founders ---Marc Badosa; Jesús Monleón (founder of the SeedRocket accelerator and Emagister); Javier Pérez-Tenessa (founder of eDreams); and Marek Fodor (co-founder of Atrápalo)--- accumulated years of experience at the helm of startups successful, thattoday annually generate tens of millions of euros.It was precisely this trajectory as entrepreneurs that allowed them to observe that in Barcelona there were few financing options focused on early stages, and they decided to fill this void. In a few years, the capital management company has managed to consolidate itself as one of the reference funds in stagespre-seed throughout Spain, exceeding 130 million euros under management. It was at the end of 2025 when the Barcelona-based management companymanaged to close its third fund with 70 million euros and the forecast to invest in about 40 tech startups. Now, 4Founders Capital wants to diversify its portfolio, landing for the first time in the hotel sector with this fourth investment vehicle called 4Founders Capital Hospitality FCRE SA, which already has the approval of the National Securities Market Commission (CNMV). They will also do so byhand of Enrique Domínguez, founder of the Gaiarooms chain, with a planned duration of six years. With this new fund, 4Founders Capital plans to invest in and acquire up to 15 hotels, prioritizing those that are well-located in cities of the typeTier 2. That is,cities that, although not large capitals or urban centers already widely oversaturated by tourism --- as Barcelona or Madrid are (cities considered Tier 1)---,do have a growing sector and good connection. In the case of Spain, this concept would encompass municipalities such as Valencia, Malaga, Seville, Zaragoza, Bilbao or even the Catalan Girona or Tarragona. According to the manager, the Spanish hotel market in these locations offers a great opportunity, since today it stilla good part of the hotel park continues to receive investment levels below its potential,which "allows access to assets with attractive entry prices, high occupancy levels, and the ability to generate cash from the first year."