# iCapital AF EAF

iCapital AF EAF is a Multi Family Office based in Madrid, Spain.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Madrid, Spain
- **Region:** Europe
- **Address:** Madrid, Spain
- **Assets under management:** Undisclosed
- **Website:** icapital.es
- **LinkedIn:** https://www.linkedin.com/company/i-capital-wms

## Regulatory record

- **Reports private funds:** No

## About

iCapital AF EAF was established by Santiago Hagerman, Pablo Martínez-Artero and Miguel Ángel García Brito. The founders previously worked at Arcano Partners before integrating select business lines into the new platform. No public record discloses the precise founding year or the source of the client capital. The firm deploys across private equity, private credit, hedge funds, real estate and infrastructure. It also runs direct co-investments and SPVs alongside fund-of-funds mandates. Confirmed geographic reach covers Europe and Africa. Sector exposure includes AgriTech & FoodTech, FinTech, Energy Transition & Renewables, Mobility & Transportation, EdTech and Healthcare Services. Investment stages span seed, early stage and growth. Team size and additional offices remain undisclosed. The firm maintains membership in ASEAFI and APD. It also provides advisory services to foundations and mutual societies. No operational events from the last 24 months appear in public sources. The structure separates client advisory from product manufacturing, allowing the firm to act solely as an allocator without internal fund conflicts.

## Sectors

- AgriTech & FoodTech
- EdTech
- Energy Transition & Renewables
- Mobility & Transportation
- FinTech
- Healthcare Services

## People

- Santiago Churruca Medina — Director of the Investment Committee

## Questions

### Who runs investment decisions at iCapital AF EAF?

Santiago Churruca Medina serves as Director of the Investment Committee. Ion Zulueta leads fund selection.

### Does iCapital AF EAF participate in fund commitments or only direct deals?

The firm executes both fund commitments and direct co-investments or SPVs.

### What investment stages does iCapital AF EAF typically target?

The firm covers seed, early stage and growth opportunities.

### Which regions does iCapital AF EAF cover?

Allocations focus on Europe and Africa.

### How is iCapital AF EAF related to Arcano Partners?

Several founding partners came from Arcano Partners and integrated certain business lines into iCapital AF EAF.

## Related profiles

- [Portofino Multi Family Office](https://altss.com/profile/portofino-multi-family-office)
- [Pine Ridge Advisers](https://altss.com/profile/pine-ridge-advisers)

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Last updated: 2026-06-03T20:00:00.000Z

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