# Minerva Capital (Bendel Family Office)

Minerva Capital (Bendel Family Office) is a Single Family Office based in Madrid, Spain.

## Overview

- **Organization type:** Single Family Office
- **Headquarters:** Madrid, Spain
- **Region:** Europe
- **Address:** C/ Alcalá 73, 4º Dcha, 28009 Madrid, Spain
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** minervacapital.es
- **LinkedIn:** https://www.linkedin.com/company/minerva-capital-managemen

## Regulatory record

- **Reports private funds:** No

## About

Minerva Capital was established in 2004 by David N. Bendel. The firm operates from Madrid as a single-family office focused on direct investments. The firm pursues control buyouts, founder buyouts, management buy-ins and balance-sheet restructurings. Equity checks range from €1 million to €10 million. It maintains positions in Premo S.L. alongside co-investor Mumtalakat. Investments concentrate on Spanish SMEs with low capital intensity and proprietary IP. Geographic scope centers on Spain and the United Kingdom through residential and commercial projects. The firm also holds industrial assets across both countries. The team brings more than 40 years of combined private-equity experience. David N. Bendel serves as chairman of Premo S.L. Peter S. Bendel joined after corporate-finance work at Investec London. The firm maintains membership in SpainCap. No dated operational events from the last 24 months appear in available records. Minerva Capital differs from conventional private-equity structures by retaining complete discretion over investment pace and horizon. It avoids external fund commitments and instead deploys family capital directly into a concentrated set of holdings.

## Sectors

- Healthcare Services
- Industrial Tech
- Luxury
- Supply Chain & Logistics

## People

- David N. Bendel — Founder / Managing Partner
- Peter S. Bendel — Partner

## Questions

### Who runs investment decisions at Minerva Capital?

David N. Bendel serves as Founder and Managing Partner. Peter S. Bendel acts as Partner. The two principals hold final authority over commitments.

### Does Minerva Capital participate in fund commitments or only direct deals?

The firm executes direct co-investments and SPVs. It avoids commitments to external private-equity funds.

### What investment stages does Minerva Capital typically target?

The firm focuses on buyouts and growth equity. It also executes management buy-ins, founder buyouts and balance-sheet restructurings.

### How does Minerva Capital source proprietary deal flow?

Sourcing relies on direct relationships with family-owned and entrepreneur-led Spanish SMEs. The principals draw on prior networks from Rothschild and Excel Partners.

### What is Minerva Capital’s known posture on co-investments alongside external GPs?

The firm has co-invested with Mumtalakat, the Bahrain sovereign wealth fund, in Premo S.L. It remains open to selective co-investment structures.

### Does Minerva Capital maintain philanthropic structures?

No separate philanthropic vehicles are disclosed in public materials.

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- [Mineral Acquisition Partners](https://altss.com/profile/mineral-acquisition-partners)
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Last updated: 2026-08-10T18:03:08.091Z

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