At Kfund, we’ve never seen our Investor Day as just a formality. For us, it’s a moment to step away from the whirlwind of everyday life and truly reflect on where we stand. And we do it alongside our two most important partners on this journey: our LPs and our entrepreneurs.
As the years go by, it’s inspiring to see how a sector as volatile as technology is evolving in Spain. How it’s gaining impact. How it has moved from a niche corner to the center of many conversations. How companies are driving more and more change. And how one of the ideas we founded this project on keeps proving true: that Spanish entrepreneurs can look the best founders in the world straight in the eye.
This year’s Investor Day gave us the chance to pause and reflect on the major challenges ahead, both for our industry and for Europe as a whole. That’s why this year we chose to call our event Outliers 25: Beyond Europe. Innovation doesn’t happen in isolation: it is shaped by economic cycles, regulatory dynamics, and (more than ever) the accelerating pace of technological disruption driven by AI.
In Spain, venture capital funds have come a long way over the past decade. But the road ahead requires us to consolidate returns, prove that we can build sustainable growth stories, and create large-scale funds that compete head-to-head with international players. Adapting to the AI era and navigating market cycles without losing focus will be defining tests for the next generation of funds.
Beyond our borders, Europe faces structural challenges that were highlighted in the Draghi report. The innovation gap with the U.S. and China remains a critical concern: we struggle to turn research into globally leading companies. On top of that, high energy costs and the pressure of decarbonization risk undermining the competitiveness of European industry.
Regulatory fragmentation is another obstacle. Multiple national regimes, excessive bureaucracy, and an unfinished single market make scaling from Europe more complicated than it should be. At the same time, geopolitical dependencies on raw materials, energy, and critical technologies underline the urgency of building strategic autonomy to avoid external shocks. In this context, we used the opportunity of gathering with our community to once again emphasize the urgent need to implement the EU Inc. initiative and to move forward with the idea of The 28th Regime accelerating the creation of a truly unified and operational European digital single market.
At Kfund, however, we don’t see these challenges as a wall but as fertile ground for those who are bold enough to build. We are more convinced than ever that technology is the driving force of Europe’s competitiveness, the lever that can transform entire industries and give us a place on the global stage.
That’s why our focus is sharper than ever on four core areas: artificial intelligence and deep software, cybersecurity, energy transition, and dual-use technologies that serve both civilian and defense needs. These are the domains where we believe crazy, contrarian, outlier founders will emerge, the ones who dare to question the status quo and pursue solutions others think are impossible.
Supporting such founders means more than just backing startups. It means investing in European resilience, autonomy in critical sectors, and long-term value for our societies. It means standing alongside those who are shaping the future rather than waiting for others to define it. We feel an almost undeniable responsibility to invest at this critical moment for Europe, and to stand firm in ensuring that Spain has funds capable of competing at a truly global level.
The road won’t be easy, but it never has been. The difference today is that we have a more mature ecosystem, world-class entrepreneurial talent, and investors willing to think big. At Kfund, our conviction is clear: the next few years will be decisive, and we are more convinced than ever that this is the moment to back the boldest founders and help build the future they are daring to imagine.
At Kfund, we’ve never seen our Investor Day as just a formality. For us, it’s a moment to step away from the whirlwind of everyday life and truly reflect on where we stand. And we do it alongside our two most important partners on this journey: our LPs and our entrepreneurs.
As the years go by, it’s inspiring to see how a sector as volatile as technology is evolving in Spain. How it’s gaining impact. How it has moved from a niche corner to the center of many conversations. How companies are driving more and more change. And how one of the ideas we founded this project on keeps proving true: that Spanish entrepreneurs can look the best founders in the world straight in the eye.
This year’s Investor Day gave us the chance to pause and reflect on the major challenges ahead, both for our industry and for Europe as a whole. That’s why this year we chose to call our event Outliers 25: Beyond Europe. Innovation doesn’t happen in isolation: it is shaped by economic cycles, regulatory dynamics, and (more than ever) the accelerating pace of technological disruption driven by AI.
In Spain, venture capital funds have come a long way over the past decade. But the road ahead requires us to consolidate returns, prove that we can build sustainable growth stories, and create large-scale funds that compete head-to-head with international players. Adapting to the AI era and navigating market cycles without losing focus will be defining tests for the next generation of funds.
Beyond our borders, Europe faces structural challenges that were highlighted in the Draghi report. The innovation gap with the U.S. and China remains a critical concern: we struggle to turn research into globally leading companies. On top of that, high energy costs and the pressure of decarbonization risk undermining the competitiveness of European industry.
Regulatory fragmentation is another obstacle. Multiple national regimes, excessive bureaucracy, and an unfinished single market make scaling from Europe more complicated than it should be. At the same time, geopolitical dependencies on raw materials, energy, and critical technologies underline the urgency of building strategic autonomy to avoid external shocks. In this context, we used the opportunity of gathering with our community to once again emphasize the urgent need to implement the EU Inc. initiative and to move forward with the idea of The 28th Regime accelerating the creation of a truly unified and operational European digital single market.
At Kfund, however, we don’t see these challenges as a wall but as fertile ground for those who are bold enough to build. We are more convinced than ever that technology is the driving force of Europe’s competitiveness, the lever that can transform entire industries and give us a place on the global stage.
That’s why our focus is sharper than ever on four core areas: artificial intelligence and deep software, cybersecurity, energy transition, and dual-use technologies that serve both civilian and defense needs. These are the domains where we believe crazy, contrarian, outlier founders will emerge, the ones who dare to question the status quo and pursue solutions others think are impossible.
Supporting such founders means more than just backing startups. It means investing in European resilience, autonomy in critical sectors, and long-term value for our societies. It means standing alongside those who are shaping the future rather than waiting for others to define it. We feel an almost undeniable responsibility to invest at this critical moment for Europe, and to stand firm in ensuring that Spain has funds capable of competing at a truly global level.
The road won’t be easy, but it never has been. The difference today is that we have a more mature ecosystem, world-class entrepreneurial talent, and investors willing to think big. At Kfund, our conviction is clear: the next few years will be decisive, and we are more convinced than ever that this is the moment to back the boldest founders and help build the future they are daring to imagine.
