Cardumen Capital
Cardumen Capital is a Madrid-headquartered global venture capital and asset management firm with $300M+ AUM, investing seed and follow-on capital in DeepTech, AgriFoodTech, and Fund-of-Funds strategies across Europe and Israel, and supporting 40+ portfolio companies via its Scale Platform.
- Company typePrivate
- Founded2017
- HeadquartersTel Aviv-yafo, Israel
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Cardumen Capital does
Cardumen Capital is a global venture capital and asset management firm headquartered in Madrid with a regional office in Tel Aviv and a venture partner presence in Taipei, operating as a Spanish-domiciled (Cardumen Capital SGEIC, Bilbao registered) alternative investment company founded in 2017. The firm manages in excess of $300 million in assets under management across multiple vehicles, including the Cardumen DeepTech Fund I, DeepTech Fund II, Cardumen FoodTech Fund, and the impact-oriented Impulso Global Fund of Funds (€40M final close with Portocolom AV in 2025-12). Its core products are investment capital (seed and follow-on) and the proprietary Scale Platform, a value-creation service offering portfolio companies strategic narrative development, fundraising strategy, sales lead generation, PR and marketing coordination, pitch deck refinement, product and marketing strategy, and dedicated M&A and exit advisory.
The firm invests primarily in early-stage DeepTech and AgriFoodTech startups in Israel and Europe, with a stated focus on Artificial Intelligence, Cybersecurity, Big Data, and food and agricultural technology (B2B specialization across agritech, food science, and circular economy). Cardumen has deployed into 40+ portfolio companies and reports notable exits including Illumex (acquired by NVIDIA, 2026-03) and Reshuffle (acquired by Twitter/X). Deal flow is sourced through direct founder outreach, ecosystem referrals, an 'Insiders' network, and an open 'Connect' application on its website, supported by content marketing on LinkedIn, a YouTube entrepreneur-tips series, and published funding ecosystem maps for the UK, Israel, and Spain.
Revenue is generated through the standard venture capital model: recurring management fees on committed capital (typically 1.5–2.0% annually) plus performance-based carried interest on fund profits. The LP base is geographically diversified across Europe, Latin America, and Asia, with over 30% institutional and corporate investors in energy, infrastructure, banking, logistics, and insurance sectors and the remainder from family offices and high net worth individuals. Cardumen has 15–20 team members across investment, M&A, finance, legal/compliance, and analyst functions, co-led by Founders and Managing General Partners Gonzalo Martínez de Azagra and Igor de la Sota.
Cardumen Capital firmographics
Firmographics- Name
- Cardumen Capital
- Legal name
- Cardumen Capital SGEIC
- Website
- https://cardumencapital.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cardumen Capital is a Madrid-headquartered global venture capital and asset management firm with $300M+ AUM, investing seed and follow-on capital in DeepTech, AgriFoodTech, and Fund-of-Funds strategies across Europe and Israel, and supporting 40+ portfolio companies via its Scale Platform.
- Ownership category
- akta.pro rank
Cardumen Capital industry classification
Industry- Product category
- Venture Capital and Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Venture Capital Fund-of-Funds (FSANAGAC)
- akta.pro secondary industry
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)
Keywords
Where Cardumen Capital is headquartered
LocationHeadquarters
- HQ city
- Tel Aviv-yafo
- HQ country
- Israel
- HQ region
- Middle East
Offices2 records
Markets served
Cardumen Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Management Fees: VC firms typically charge management fees on assets under management (AUM) as their primary revenue stream, usually 1.5-2% annually on committed capital.
- Carried Interest: Performance-based fees typically 20% of profits above a hurdle rate, aligning investor and fund manager interests.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Cardumen Capital product offering
Product offeringCore offering
Cardumen Capital is a global venture capital and asset management firm that invests early-stage capital in world-class founders building transformative DeepTech (AI, Cybersecurity, Big Data) and AgriFoodTech startups, primarily in Israel and Europe. The firm manages over $300M in AUM across 40+ portfolio companies through dedicated fund vehicles, and supplements its investments with the proprietary Scale Platform, a hands-on value-creation service providing portfolio companies with storytelling, fundraising strategy, sales lead generation, PR/marketing, pitch deck support, product strategy, and M&A advisory.
Product overview
Cardumen Capital operates as a global venture capital and asset management firm with presence in Europe and the Middle East, managing over $300M in AUM across 40+ portfolio companies. The firm offers its Scale Platform as the primary value-add service to portfolio companies, providing operational support including storytelling, fundraising strategy, sales lead generation, PR/marketing, pitch deck refinement, product/marketing strategy, and M&A advisory services. The firm manages multiple fund vehicles including DeepTech Fund I and II, FoodTech Fund, and Fund of Funds, and operates through offices in Tel Aviv and Madrid.
Differentiator
Problem solved
Functional benefit
Brands
- Impulso Global Fund of Funds: Impact fund investing in pioneering asset managers across Europe, US, and emerging markets focusing on health, education, climate change, and financial inclusion.
- Cardumen DeepTech Fund I
- Cardumen DeepTech Fund II
- Cardumen FoodTech Fund
Products and services
- Scale Platform
Quantifiable outcome
- Successfully exited Illumex to NVIDIA, validating seed-to-exit investment thesis
- +2 more outcomes
Companies that use Cardumen Capital
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
Cardumen Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability17 records
Cardumen Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Stan Yu (Taipei-based APAC Partner)majorTaipei-based Venture Partner leading Cardumen's Asia-Pacific expansion, bridging Asian capital with European, Israeli, and global DeepTech ecosystems following NVIDIA/Illumex acquisition
Scale indicators4 records
Recent moves7 records
Expansion highlights5 records
Cardumen Capital competitors and assessment
Company assessmentDirect peers
- Target Global: European tech VC with multi-stage funds targeting AI, mobility, fintech, and digital infrastructure. Overlapping fund sizing and European DeepTech mandate make it a natural peer.
- Jerusalem Venture Partners (JVP): Long-standing Israeli VC focused on early-stage DeepTech, cybersecurity, and enterprise software. Direct competitor for Israeli seed/Series A deals and comparable in geographic footprint and sector specialization.
- Pitango Venture Capital: Israel's largest multi-stage VC with funds spanning seed to growth, focused on tech, healthtech, and climatech. Overlapping deal pool in Israeli AI/Cyber and similar hands-on value-add platform model.
- iAngels: Israeli VC/angel platform investing in early-stage tech startups with a strong LP platform model. Comparable Israeli early-stage mandate and platform-driven approach to deal access.
- Earlybird Venture Capital: European early-stage VC investing in tech, deep tech, and health across Germany and broader Europe. Comparable fund size (~€300M+ AUM tier), multi-stage structure, and B2B/B2B2C DeepTech focus.
- Amadeus Capital Partners: European DeepTech VC investing across AI, cybersecurity, digital health, and deep science from seed to growth. Comparable DeepTech specialization and European institutional LP base.
- 83North: Israel/UK-based VC investing in enterprise tech and consumer at seed through Series C. Highly comparable Israeli DNA, B2B software focus, and global syndication behavior.
- OurCrowd: Israel-based global VC platform investing heavily in AI, cybersecurity, and deep tech with a broad LP/corporate base. Closely comparable in Israeli DeepTech focus, multi-strategy structure, and global syndication approach.
- Speedinvest: European early-stage VC with multiple sector-focused funds (deep tech, fintech, climate, etc.). Comparable multi-fund platform, sector specialization model, and European + Israel deal sourcing.
Broad incumbents
- Atomico: European tech VC founded by Skype's Niklas Zennström, investing across stages with a broader sector mandate. Comparable European footprint and institutional LP base, but significantly larger AUM and broader mandate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Cardumen Capital social profiles
Digital presenceCardumen Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cardumen Capital leadership team
Management profileNumber of profiles
Profiles11 records
Cardumen Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cardumen Capital M&A and investment
M&A and investmentM&A
Investments62 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cardumen Capital
What does Cardumen Capital do?
Cardumen Capital is a global venture capital and asset management firm that invests early-stage capital in world-class founders building transformative DeepTech (AI, Cybersecurity, Big Data) and AgriFoodTech startups, primarily in Israel and Europe. The firm manages over $300M in AUM across 40+ portfolio companies through dedicated fund vehicles, and supplements its investments with the proprietary Scale Platform, a hands-on value-creation service providing portfolio companies with storytelling, fundraising strategy, sales lead generation, PR/marketing, pitch deck support, product strategy, and M&A advisory.
Is Cardumen Capital a public or private company?
Cardumen Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Cardumen Capital founded?
Cardumen Capital was founded in 2017. It employs 11 to 50 people.
Where is Cardumen Capital based?
Cardumen Capital is headquartered in Tel Aviv-yafo, Israel, in the Middle East region.
How does Cardumen Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Cardumen Capital's main competitors?
Direct peers on record are Target Global, Jerusalem Venture Partners (JVP), Pitango Venture Capital, iAngels, Earlybird Venture Capital, Amadeus Capital Partners, 83North, OurCrowd and Speedinvest. Atomico is listed as a broad incumbent.
Does Cardumen Capital have an API?
No public API is recorded for Cardumen Capital.
What industry is Cardumen Capital in?
Cardumen Capital's product category is Venture Capital and Asset Management. Its primary akta.pro industry code is FSANAGAC, Venture Capital Fund-of-Funds, with a secondary code of FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms. Its NAICS code is 523940 and its SIC code is 6282.