# Systema Capital

Systema Capital is a Multi Family Office based in Andorra la Vella, Andorra.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Andorra la Vella, Andorra
- **Region:** Europe
- **Address:** Ptge Europa, 1 4a planta, Andorra La Vella, AD500, Andorra
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** systemacapital.com
- **LinkedIn:** https://www.linkedin.com/company/systema-capital

## Regulatory record

- **Reports private funds:** No

## About

Ivan Comerma and Francesc Xavier Alsina established Systema Capital in 2016 after careers in banking treasury and credit roles at multiple institutions. Both principals hold board experience at entities including Formula E Holdings and MoraBanc Asset Management. The firm operates as a multi-family office serving families and institutions with governance and investment services. Systema Capital deploys across direct co-investments, SPVs, litigation finance, private credit and real estate. Confirmed holdings include Montego Bay Touristic Resort in Jamaica, real-estate portfolios in Uruguay and Andorra, an eolic park in Uruguay, a solar plant in Spain, and a VTC license fleet in Spain. The firm also maintains a physical commodities dealing desk. Geographic reach covers Europe, the Caribbean and South America. Ivan Comerma belongs to YPO; the firm participates in the Metaverse Standards Forum. No public headcount or AUM figure is available. Günther Schiendl joined as partner after fifteen years in private equity and venture capital plus family-office management. The firm opened its litigation-funding practice in Spain within the last decade. Systema Capital also runs a Guatemala pilot programme under its philanthropic activities. The firm’s structure separates family-office advisory from its regional M&A arm, Systema Capital Partners in Belgrade. This separation allows independent sourcing of litigation and real-asset opportunities while maintaining direct control over capital allocation for participating families.

## Sectors

- LegalTech
- Energy Transition & Renewables
- Mobility & Transportation
- Digital Health
- Biotech & Genomics
- AI/ML

## People

- Ivan Comerma — CEO & Co-founder
- Francesc Xavier Alsina — Co-founder
- Günther Schiendl — Partner

## Questions

### Who runs investment decisions at Systema Capital?

Ivan Comerma serves as CEO and co-founder. Francesc Xavier Alsina acts as co-founder. Günther Schiendl participates as partner with private-equity and family-office experience.

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

The firm executes direct co-investments and SPVs. It also leads litigation-funding arrangements and holds physical real-estate and infrastructure assets.

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

Systema Capital finances projects from start-up through expansion and internationalization. It also provides capital for litigation and real-asset acquisitions.

### Where does the underlying wealth come from?

The firm does not disclose specific family wealth origins. It positions itself as a multi-family office serving high-net-worth families and institutions.

### How is Systema Capital related to Systema Capital Partners?

Systema Capital Partners operates as the Belgrade-based M&A advisory arm and regional vehicle. The two entities maintain separate mandates.

### Does Systema Capital maintain philanthropic structures?

Systema Capital runs a Guatemala pilot programme. No further details on separation or governance of philanthropic vehicles are publicly available.

## Related profiles

- [Synovus Family Office](https://altss.com/profile/synovus-family-office)
- [TAAG Family Office](https://altss.com/profile/taag-family-office)

---

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

Canonical page: https://altss.com/profile/systema-capital

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology