# Wayra Wayra is an Asset Manager based in Sao Paulo, Brazil. ## Overview - **Organization type:** Asset Manager - **Headquarters:** Sao Paulo, Brazil - **Region:** Latin America - **Address:** Rua Martiniano de Carvalho, 851, São Paulo, Brazil - **Founded:** 2011 - **Assets under management:** Undisclosed - **Website:** www.wayra.com - **LinkedIn:** https://www.linkedin.com/company/wayra ## Regulatory record - **Reports private funds:** No ## About Wayra launched in 2011 as Telefónica's startup accelerator, designed to bring external innovation into the Spanish telecom giant's operations. CEO Irene Gómez now leads the unit from Madrid, operating a network of hubs in Spain, the UK, Germany, and Brazil that combine investment activity with physical co-working space. The initiative traces its origin to Telefónica's broader digital transformation strategy under former chairman César Alierta, becoming one of the earliest dedicated corporate venture arms in European telecom. The firm invests across seed, early-stage, and growth rounds, with a sector focus reflecting Telefónica's strategic interests — cybersecurity, enterprise software, AI/ML, fintech, prop-tech, digital health, mobility, and media. Wayra typically participates in rounds between €50,000 and €500,000 at the earliest stages, with the capacity to follow on up to €2 million. More than 800 startups have received funding, including confirmed positions in companies such as Nozomi Networks (OT cybersecurity) and Aircall (cloud-based voice platform). Wayra acts as both a direct investor and a connector, brokering commercial pilots and distribution agreements between portfolio companies and Telefónica's operating businesses across 12 countries. Wayra's geographic footprint spans four Latin American nations — Brazil, Colombia, Mexico, and Argentina — plus Spain, the UK, and Germany. The firm reports managing seven operational hubs in total, though co-working spaces have been consolidated in recent years as the program shifted toward pure investment activity. Wayra holds a board seat at SpainCap, the Spanish venture capital and private equity association, and maintains an Endeavor partnership to support high-impact entrepreneurs in Latin America. In May 2024, Wayra announced a strategic expansion of its AI investment focus, linking new portfolio companies to Telefónica's cloud and edge computing infrastructure. Wayra operates as an owned subsidiary of Telefónica, making it structurally different from independent venture firms — it carries no external LP mandates and can deploy capital at the strategic discretion of the parent corporation. The firm's returns are not measured solely on financial multiples; commercial integration between startups and Telefónica business units serves as a parallel success metric. This dual mandate — financial return plus strategic value — defines its investment committee decisions and its unusually patient holding periods for CVC structures. ## Sectors - Enterprise Software - AI/ML - Cybersecurity - FinTech - PropTech - Mobility & Transportation - Digital Health - Media & Entertainment ## Offices - Gran Vía, 28, Madrid, Spain - Plaça d'Ernest Lluch i Martin, 5, Barcelona, Spain - Tintagel House, 92 Albert Embankment, London, SE1 7TY, UK - Kaufingerstraße 15, Munich, Germany ## People - Irene Gómez — CEO - Chema Alonso — Chief Digital Officer of Telefónica ## Questions ### Who runs investment decisions at Wayra? CEO Irene Gómez leads Wayra's overall strategy and investment direction. She reports to Telefónica Chief Digital Officer Chema Alonso, who holds significant influence over the unit's innovation mandate. Investment decisions are made through an internal committee that weighs both financial return potential and the strategic fit with Telefónica's operating businesses. ### How does Wayra source proprietary deal flow? Wayra sources deals through three main channels: direct applications to its seven hub locations, partnerships with co-investors and trade bodies such as SpainCap and Endeavor, and technology scouting teams embedded within Telefónica business units across 12 countries. Portfolio startups also gain access to Telefónica's customer base of more than 380 million, which can provide early commercial validation that feeds back into future sourcing criteria. ### Is Wayra structured as a venture capital fund or a corporate accelerator? Wayra operates as a wholly owned subsidiary of Telefónica, functioning as both a corporate venture capital arm and a startup accelerator program. It has shifted increasingly toward direct investment after initially emphasizing co-working and mentorship, though physical hubs remain part of its infrastructure. There are no external limited partners — all capital comes from Telefónica's balance sheet. ### Which sectors does Wayra explicitly avoid? Wayra does not publicly maintain an explicit exclusion list, but its investment mandate is tied to Telefónica's strategic interests in connectivity, cybersecurity, cloud, AI/ML, and digital transformation sectors. It generally declines deals in biotech, hard sciences, heavy industry, and other verticals far from Telefónica's core telecommunications and digital services markets. The firm's portfolio reflects this de facto filter across enterprise software, fintech, and mobility. ### What is Wayra's known posture on co-investments alongside external GPs? Wayra co-invests actively alongside other corporate venture arms, traditional VCs, and angel syndicates, particularly in Europe and Latin America. The firm has a track record of syndicating rounds rather than leading them, positioning itself as a strategic capital source that can open Telefónica's commercial channels. Co-investment partners frequently cite distribution and go-to-market acceleration as the primary value beyond Wayra's check size. ## Related profiles - [Waypoint Venture Partners](https://altss.com/profile/waypoint-venture-partners) - [Wayra Brazil](https://altss.com/profile/wayra-brazil) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/wayra Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology