Extension Fund

Extension Fund is a hybrid debt fund that invests in early-stage technology companies in Spain. It calls itself a pioneer of venture debt in the country and works from Madrid and Barcelona.

The fund uses convertible notes and venture debt rather than only equity, and it stays with its portfolio companies over the long term.

What Extension Fund does

• Convertible notes: short-term financing intended to turn into equity in a later funding round, used for earlier-stage startups.
• Venture debt: debt for venture-backed companies on more flexible terms than traditional lending, used for more mature startups.
• Business development network: contacts that help companies grow.
• Financing structuring: arranging new funding with national and international partners.
• Product and model launch expertise: help with new products and business models.

Who it serves

The fund works with companies from pre-seed to Series B stage, across fintech, insurtech, proptech, cleantech and e-commerce. Portfolio names include Ukio, Gamestry and an Amazon FBA aggregator.

Key facts

• Based in: Madrid and Barcelona, Spain
• Stage: pre-seed to Series B
• Instruments: convertible notes and venture debt