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In recent years, Spain has established itself as one of the most active ecosystems for search funds<\/em> in Europe. According to European Search Fund Study 2024<\/strong> (IESE Business School and Stanford GSB), Spain currently represents the 22% of all new funds created in Europe<\/strong>, second only to the United Kingdom. The study identified more than 60 Spanish searchers who are active or in the search phase<\/strong>, representing a cumulative growth of 80% compared to 2020 data.<\/p>\n\n\n\nThis boom can be explained by several factors:<\/p>\n\n\n\n
\n- Greater awareness of the model, driven by initiatives such as the IESE Search Fund Center<\/strong>, which has trained dozens of entrepreneurs.<\/li>\n\n\n\n
- The growing interest of local and international investors in supporting projects with high potential for profitability.<\/li>\n\n\n\n
- The existence of a network of small and medium-sized family businesses undergoing succession or professionalisation processes, often without a clear successor.<\/li>\n<\/ul>\n\n\n\n
Although it has traditionally been pointed out that the strong family business culture in Spain hindered the development of the model, the reality is changing. More and more entrepreneurs see in the search fund<\/em> An orderly, professional and committed exit, especially in sectors such as B2B services, light industry, niche technology and healthcare.<\/p>\n\n\n\nAmong the search funds<\/em> most active or representative in recent years are Lomba Capital<\/strong>, Ariol Capital<\/strong>, N Capital<\/strong>, Kaizen Partners<\/strong>, Punto Cero Capital<\/strong> and Orderly<\/strong>. Many of them are backed by a network of investors with experience in venture capital, consulting, or entrepreneurship, and have begun to generate their first acquisitions and exits.<\/p>\n\n\n\n