Venture capital firm

Extension Fund

Spanish hybrid debt fund investing in startups through convertible notes and venture debt

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Hybrid
Spain
Business
Video
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TrustList summary

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

Summary written by TrustList from the business's own published information, Oct 2026.

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Rankings

Extension Fund is ranked on 5 TrustList rankings: #4 on 2, #10 on 1, #14 on 1 and #33 on 1.

Every ranking orders its listings by their reviews, how complete the profile is and the Trust Score. Extension Fund has no reviews yet and 3 of the 10 profile details we look for. Where no listing on a page has been reviewed, the order follows the profiles alone.

Venture capital firm · 5 rankings

#4of 7
Lisbon
It is the only one of the 7 here listing hybrid and residential.
Of the 7 here, 2 also cover venture capital and 2 also cover pre seed; 2 also work in Madrid and 2 also work in Barcelona.
Behind Bynd Venture Capital, ahead of Frontier IP Group plc.
#4of 5
Spain
It is the only one of the 5 here listing pre seed and series.
Its profile: “Extension Fund is a hybrid debt fund that invests in early-stage technology companies in Spain.”
Of the 5 here, 2 also cover science and 2 also cover video.
Behind Modara Technologies, ahead of Spoti angels.
#10of 13
Barcelona
It is the only one of the 13 here listing series b and video.
Its profile: “It calls itself a pioneer of venture debt in the country and works from Madrid and Barcelona.”
Of the 13 here, 2 also cover seed stage and 2 also cover biotech; 3 also work in Paris and 2 also work in Copenhagen.
Behind Abac Nest, ahead of Advent France Biotechnology.
#14of 32
Madrid
It is the only one of the 32 here listing hybrid and residential.
Its profile: “It calls itself a pioneer of venture debt in the country and works from Madrid and Barcelona.”
Of the 32 here, 4 also cover internet and 4 also cover partners; 14 also work in London and 11 also work in New York City.
Behind Evercore Partners, ahead of Foresight Group (investor).
#33of 91
Series b
It is the only one of the top 71 here listing residential and one of 2 here listing hybrid.
Its profile: “The fund works with companies from pre-seed to Series B stage, across fintech, insurtech, proptech, cleantech and e-commerce.”
Of the top 71 here, 42 also cover series and 31 also cover series a; 6 also work in Silicon Valley and 5 also work in Europe.
Behind Evli Growth Partners, ahead of Flashpoint Venture Capital.