Creas
Creas is a Madrid-based impact investment fund manager, founded in 2008, that deploys €1M-€7M equity tickets into Spanish and EU growth-stage social enterprises across education, healthcare, and circular economy. It uses a proprietary Social Impact Multiple (SIM) methodology linking team carried interest to measurable impact outcomes.
- Company typePrivate
- Founded2008
- HeadquartersMadrid, Spain
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Creas does
Creas is the pioneering impact investment fund manager in Spain, founded in 2008 in Zaragoza by Luis Berruete, Pedro Javier Armentia, and Sergio Sanz and now headquartered in Madrid. It operates a multi-fund structure — Creas Desarrolla (€1M pilot, 2012), Creas Impacto FESE (€30M, 2017-2018, first Spanish FESE), Creas Impacto II FESE (successor fund targeting €100M), and Creas Impacto II Alternativo FESE — investing equity tickets of €1M-€7M in Series A and early-growth social enterprises with revenues above €1M across three thematic pillars: Empower (education and employment), Care (healthcare, eldercare, mental health), and Regenerate (circular economy, climate). Creas generates revenue through management fees on assets under management and carried interest linked to both financial returns and impact achievement. Its proprietary Social Impact Multiple (SIM) methodology and 8-variable Impact Scoring System (team, track record, scale, depth, problem importance, additionality of company, additionality of Creas, and negative-impact risk) align team carried interest with impact performance, and the firm links this to standards including IMP, IRIS+, and B Impact Assessment. The portfolio spans 15+ companies such as Ironhack, Qida, Koa Health, Refurbed, Rediv, GoTrendier, Smileat, Baluwo, miResi, Mitiga Solutions, Zen Educate, and the majority-controlled Desconect@, with 6 completed divestments delivering above 10% gross IRR and 60% of impact goals achieved within holding periods.
Creas firmographics
Firmographics- Name
- Creas
- Legal name
- Fundación Creas Valor Social
- Website
- https://creas.es
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Creas is a Madrid-based impact investment fund manager, founded in 2008, that deploys €1M-€7M equity tickets into Spanish and EU growth-stage social enterprises across education, healthcare, and circular economy. It uses a proprietary Social Impact Multiple (SIM) methodology linking team carried interest to measurable impact outcomes.
- Ownership category
- akta.pro rank
Creas industry classification
Industry- Product category
- Impact Investment Fund Management
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Impact Investing (Intentional, Measurable Social/Environmental Outcomes) (FSAAALAC)
Keywords
Where Creas is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices2 records
Markets served
Creas business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Fund Management: Creas generates revenue through management fees on assets under management and carried interest (performance fees) tied to investment returns and impact achievement. Three instruments: Creas Desarrolla, Creas Impacto I, and Creas Impacto II.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Between €1M and €7M per investment in Series A and early growth companies |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Creas product offering
Product offeringCore offering
Creas is an impact investment fund manager that deploys growth-stage equity tickets of €1M to €7M into social enterprises generating measurable social and environmental outcomes. It manages multiple fund vehicles — Creas Desarrolla (pilot), Creas Impacto FESE (€30M), Creas Impacto II FESE, and Creas Impacto II Alternativo FESE — across three investment themes: Empower (education, employment), Care (healthcare, senior care), and Regenerate (circular economy, climate). Beyond capital, the firm provides portfolio companies with strategic support, impact measurement, and value-creation services under the proprietary Social Impact Multiple (SIM) framework, which ties team carried interest to impact achievement.
Product overview
Creas is a pioneering impact investment fund manager in Spain operating as a multi-fund structure. The core offering consists of four investment vehicles: Creas Desarrolla (pilot fund, 2012), Creas Impacto FESE (first Spanish FESE, €30M, 2018), Creas Impacto II FESE (second fund with EIF/ICO support), and Creas Impacto II Alternativo FESE (parallel vehicle). These funds invest in portfolio companies across three thematic areas: Empower (education, employment), Care (healthcare, eldercare, mental health), and Regenerate (circular economy, climate, sustainable mobility). The portfolio includes 20+ companies such as Koa Health (mental health technology), Rediv (circular fashion), GoTrendier (second-hand fashion), Refurbed (electronics refurbishment), miResi (senior care platform), Baluwo (migrant financial services), Trilema (education), Ironhack (tech education), Mitiga Solutions (climate AI), and Qida (home healthcare). Each fund targets different investment stages from seed through growth, with tickets ranging from €1M to €7M per investment.
Differentiator
Problem solved
Functional benefit
Products and services
- Creas Desarrolla Pilot impact investment vehicle launched in 2012 with just over €1 million to demonstrate that impact investing could generate profitability in Spain. Served as the proof-of-concept fund that led to the larger institutional fund vehicles.
- Creas Impacto FESE First Spanish European Social Entrepreneurship Fund (FESE), a €30M institutional impact investment fund registered in 2018 and anchored by EIF (€10M) and ICO (€5M). Invests €1M–€7M per company into Series A and early growth social enterprises.
- Creas Impacto II FESE Second-generation impact fund launched in 2024 with EIF and ICO support to invest in social impact companies across Spain and the EU, targeting at least double the size of the prior €30M fund.
- Creas Impacto II Alternativo FESE Parallel fund vehicle to Creas Impacto II FESE designed for alternative investment structures, enabling broader investor participation alongside the main second-generation impact fund.
Quantifiable outcome
- 60,000+ students transformed through education investments
- +6 more outcomes
Companies that use Creas
Customer profileNamed customers12 records
Segments3 records
Ideal customer profiles2 records
Creas technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature2 records
Creas partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and supporting.
- B CorporationcoreB Lab Spain certifies Creas as meeting highest standards in social and environmental performance. Creas was the first B Corp fund in Spain.
- SpainNAB (National Advisory Board)supportingCreas is an active member promoting impact investing standards and best practices at national level.
- EVPA (European Venture Philanthropy Association)supportingEuropean association where Creas participates in knowledge sharing and sector development activities.
- SpainSIFsupportingSpanish Sustainable and Responsible Investment Forum member promoting ESG and impact investing.
- SpainCAPsupportingSpanish Private Equity and Venture Capital Association membership.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Creas competitors and assessment
Company assessmentDirect peers
- Big Society Capital: UK social-impact investor that funds and builds the impact-investment market — comparable to Creas as a mission-driven institutional impact allocator partnering with fund managers across the social economy.
- Triodos Investment Management: Dutch impact investment manager operating multiple listed and private impact funds across Europe with a focus on measurable social and environmental outcomes — a directly comparable European impact fund manager to Creas.
- Astanor Ventures: European agrifood and ocean impact venture fund investing in growth-stage companies — closely comparable to Creas' Regenerate (circular economy, climate) investment theme and ticket-size profile.
- Incofin Investment Management: Belgian impact investment manager focused on financial inclusion and smallholder finance — directly comparable to Creas as a European specialist impact fund manager with multiple vehicles and rigorous impact measurement.
- Bridges Fund Management: UK-based impact investment manager running private equity, venture, and property impact strategies — comparable as a European multi-fund impact platform with proprietary impact measurement frameworks.
- responsAbility Investments: Swiss impact asset manager investing in financial inclusion, climate, and sustainable food across emerging and frontier markets — directly comparable as a European impact fund manager with a global portfolio and measurable impact thesis.
Broad incumbents
- Acumen: Global impact investor with decades of track record funding social enterprises in developing markets — a broader incumbent that competes with Creas for talent, LPs, and emerging-manager credibility in the impact ecosystem.
- Omidyar Network: Global impact investment firm spun out of eBay founder Pierre Omidyar's philanthropy — comparable as a larger, multi-strategy impact investor with thematic mandates similar to Creas' Empower/Care/Regenerate framework.
- KfW Capital / DEG: German state-backed development finance and venture-capital investor providing anchor capital to European impact and growth funds — comparable as a large, regulated European impact allocator that often co-anchors funds like Creas Impacto.
Regional players
- Vox Capital: Brazilian pioneer impact venture fund operating since 2009 in Latin America — comparable as a regional pioneer impact manager (similar first-mover profile to Creas) but operating in a different geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Creas social profiles
Digital presenceCreas compliance and trust
Trust signalCompliance2 records
Creas financial estimates
Financial estimateRevenue estimate
Valuation estimate
Creas leadership team
Management profileNumber of profiles
Profiles14 records
Creas funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Creas M&A and investment
M&A and investmentM&A1 record
Investments18 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Creas
What does Creas do?
Creas is an impact investment fund manager that deploys growth-stage equity tickets of €1M to €7M into social enterprises generating measurable social and environmental outcomes. It manages multiple fund vehicles — Creas Desarrolla (pilot), Creas Impacto FESE (€30M), Creas Impacto II FESE, and Creas Impacto II Alternativo FESE — across three investment themes: Empower (education, employment), Care (healthcare, senior care), and Regenerate (circular economy, climate). Beyond capital, the firm provides portfolio companies with strategic support, impact measurement, and value-creation services under the proprietary Social Impact Multiple (SIM) framework, which ties team carried interest to impact achievement.
Is Creas a public or private company?
Creas is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Creas founded?
Creas was founded in 2008. It employs 1 to 10 people.
Where is Creas based?
Creas is headquartered in Madrid, Spain, in the Europe region.
How does Creas make money?
One revenue line is on record: fund Management.
Who are Creas's main competitors?
Direct peers on record are Big Society Capital, Triodos Investment Management, Astanor Ventures, Incofin Investment Management, Bridges Fund Management and responsAbility Investments. Broad incumbents are Acumen, Omidyar Network and KfW Capital / DEG. Vox Capital is listed as a regional player.
Does Creas have an API?
No public API is recorded for Creas.
What industry is Creas in?
Creas's product category is Impact Investment Fund Management. Its primary akta.pro industry code is FSAAALAC, Impact Investing (Intentional, Measurable Social/Environmental Outcomes). Its NAICS code is 52394 and its SIC code is 6282.