Cabiedes & Partners

Luis Martín Cabiedes is the sole managing partner and central decision-maker. His investment judgment, formed through decades of direct angel investing, drives the firm's capital allocation. There is no published investment committee or external advisory board affecting deal selection.

The firm deploys proprietary capital exclusively and has never raised a third-party fund. This structure gives it the permanence of a family office, with no LP-imposed timelines or deployment mandates. It is legally organized as a private investment vehicle, not a regulated fund manager.

Cabiedes & Partners focuses on pre-revenue seed and very early-stage rounds, typically providing first institutional checks between €100,000 and €500,000. The firm targets internet and software companies where it can act as lead or co-lead, and occasionally participates in follow-on rounds for high-performing portfolio companies.

The firm avoids capital-intensive industries, hardware-first businesses, and ventures requiring significant manufacturing or real-asset investment. It does not pursue later-stage growth equity, buyouts, or public-market strategies, concentrating solely on early-stage digital models.

The firm's most recognized exits include Idealista, Spain's dominant real-estate classifieds platform acquired by EQT; Privalia, the flash-sales e-commerce pioneer bought by Vente-Privée; and Olé, the messaging app acquired by Facebook. These exits cemented Cabiedes' reputation as a founder-aligned early-stage investor.

Deal flow is driven primarily by Luis Martín Cabiedes' personal network, which spans two decades of Spanish founders, co-investors, and the broader European seed ecosystem. His regular participation in Demo Days, tech conferences, and informal founder referrals sustains proprietary access without a dedicated business-development function or scouting program.

While the core portfolio is concentrated in Spanish startups, the firm has invested selectively in broader European internet companies. Its geographic mandate is flexible and opportunity-driven rather than strictly bounded, but it has not established additional offices or formal pan-European expansion plans.