About Clave
Clave is a venture capital firm founded in 2002. It is primarily based out of Pamplona, Spain. As of Sep 2026, Clave is an active investor, having invested in 66 companies, with 4 new investments in the last 12 months. It primarily invests in Seed round in Spain based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and HealthTech. Most recently it participated in the $***** Series A round of Connecta Therapeutics Overall, Clave portfolio has seen 1 unicorn, 1 IPO and 4 acquisitions including key companies like Multiverse Computing, Aquilón Cyl and BCN3D. A lot of funds co-invest with Clave, with names like CDTI sharing a substantial percentage of its portfolio. Clave has team of 16 people including 8 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Rounds of Entry
Seed, Series A & 2 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Clave's List of Top Investments
Clave has a portfolio of 66 companies, one of which is a Unicorn. Their most notable investments are in Kronomav and Corify.Their portfolio spans across Spain, Belgium, Germany and 1 more locations. They have invested in Life Sciences, High Tech, HealthTech and 24 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Clave:Developer of software for compressing artificial intelligence model data structures. This technology reduces the memory footprint and computational requirements of machine learning models. The software enables the deployment of models on hardware with limited processing capacity, including edge devices and standard data center infrastructure. It facilitates the execution of inference tasks while maintaining model accuracy. The platform provides tools for managing model deployment, monitoring resource usage, and enforcing security policies within enterprise environments.
Key facts about Multiverse Computing
2. Pharmacelera
Hardware and software solutions for computer-aided drug design. Products include PharmScreen- a ligand-based virtual screening tool that uses a 3D ligand-alignment algorithm based on the interaction fields for lead generation, and PharmQSAR- a 3D Quantitative Structure-Activity Relationship (QSAR) tool able to combine multiple fields of interaction.
Key facts about Pharmacelera
- Founded Year: 2015
- Location: Barcelona (Spain)
- Stage: Series A
- Total Funding till date: $7.1M
- Employee Count: 28 as on Aug 31, 2026
- Investors: EIC Fund, Intelectium and 6 Others
- Latest Funding Round: Series A, Feb 18, 2026, $*****
- Highlight: Editors' Pick
3. MOA foodtech
Key facts about MOA foodtech
- Founded Year: 2020
- Location: Noain (Spain)
- Stage: Series B
- Total Funding till date: $22.6M
- Employee Count: 29 as on Aug 31, 2026
- Investors: Banco Sabadell, Swanlaab Venture Factory and 10 Others
- Latest Funding Round: Series B, Sep 04, 2026, $*****
Provider of the drug for treating multi-drug resistance bacterial infection. The company's proprietary product includes extraction of antibacterial agents using lytic phage enzymes i.e natural lytic enzymes (NLEs) and chimeric lytic enzymes (CLEs) from soil environments and the identification of bacteriophages (lytic and lysogenic) which can damage the bacterial populations. The company drug pipeline includes P001, TT206, P002, P003, GN, and GP enzybiotics for treating gram-negative bacterial infections by Enterobacteriaceae, Acinetobacter baumannii, and Pseudomonas aeruginosa.
Key facts about Telum Therapeutics
- Founded Year: 2019
- Location: Noain (Spain)
- Stage: Series A
- Total Funding till date: $25.2M
- Employee Count: 21 as on Aug 31, 2026
- Investors: AMR Action Fund, Inveready and 6 Others
- Latest Funding Round: Series A, Jul 01, 2026, $*****
- Highlight: Editors' Pick
CONNECTA THERAPEUTICS is a developer of drugs for treating neurological disorders. It has developed a CTH120 drug for the treatment of fragile X neurological disorder syndrome (FXS). FXS is the most common cause of hereditary intellectual disability and there are currently no therapeutic interventions available. The molecule has been proven in vitro tests and in vivo in animal models can treat other neurodevelopmental disorders such as Rett syndrome, Down syndrome, and autism spectrum disorders, among others.
Key facts about Connecta Therapeutics
Clave's Year-on-Year Investment Trends
Clave has invested in 68 companies over the last 21 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 4 investments, while as of Sep 2026, it has made 5 investments in this year. Its most recent first time investment was in Connecta Therapeutics and most recent follow-on round was in Telum Therapeutics.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 1 | 5 |
2025 | 4 | 0 | 4 |
2024 | 2 | 2 | 4 |
2023 | 7 | 0 | 7 |
2022 | 4 | 0 | 4 |
2021 | 5 | 0 | 5 |
2020 | 3 | 0 | 3 |
2019 | 1 | 1 | 2 |
2018 | 1 | 0 | 1 |
Clave's Investments by Stage
Clave has made 31 investments in Seed stage with an average round size of $2.27M, 11 investments in Series A stage with an average round size of $6.37M, 1 investment in PE stage and 1 investment in Unattributed stage with an average round size of $11M.Stage of entry | No. of Investments |
|---|---|
Seed | 31 |
Series A | 11 |
PE | 1 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Clave's Investments by Sector
Clave has a diverse portfolio, with companies operating in the Life Sciences, High Tech, HealthTech, Enterprise Applications and Sustainability Tech. Notably, it has invested in 42 Tech companies, 41 Enterprise (B2B) companies, 18 Software companies and at least 10 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Life Sciences | 15 |
High Tech | 9 |
HealthTech | 7 |
Enterprise Applications | 6 |
Sustainability Tech | 5 |
Others | 35 |
Note: We have considered here, only first round of investments
Clave's Investments by Geography
Clave has made most investments in Spain (42), followed by Germany where it has made 1 investment.Country | No. of Investments |
|---|---|
Spain | 42 |
Germany | 1 |
Note: We have considered here, only first round of investments
Clave's recent investments
Clave has made 5 investments in 2026 so far. Connecta Therapeutics and Sensesbit are the latest among them.Here are the most recent investments by Clave:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 10, 2026 | Spain | Series A | 2263 | [+2] | |
Jul 17, 2026 | Spain | Seed | 3720 | [+1] | |
Jul 01, 2026 | Spain | Series A | 4525 | [+4] | |
Feb 23, 2026 | Spain | Seed | 8256 | - | |
Feb 18, 2026 | Spain | Series A | 4732 | [+2] |
Unicorns in Clave's Portfolio
Clave has 1 unicorn in its portfolio - Multiverse Computing. The most recent unicorn in their portfolio is Multiverse Computing which became a unicorn in 2026, 4 years after Clave first invested in it.Here is a list of unicorns in Clave's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | Developer of software for compressing artificial intelligence model data structures | 2019 | San Sebastian | Series C | mqeneop |
IPOs and Publicly Listed companies in Clave's Portfolio
1 of Clave's portfolio company became public - INCOM.Here are Clave's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
- | Mar 05, 2010 | Seed | 3269 |
Acquired companies in Clave's Portfolio
4 companies from Clave's portfolio have been acquired. The most recent acquisition was Aquilón Cyl in Jun 2026 by Ceva for $*****.Here are Clave's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 09, 2026 | Jul 04, 2012 | Seed | 6250 | |
Aug 19, 2025 | - | - | 9515 | |
Sep 01, 2021 | - | - | 6747 | |
Jul 16, 2015 | Oct 12, 2008 | PE | 9239 |
Team profile of Clave
Clave has a team of 16 members including 8 Partners and 1 Principal located in Spain. Clave's team does not sit on the board of any company as of now.Here is a list of top team members in Clave:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Spain | - | ||
Partner | Pamplona | - | - | |
Partner | Pamplona | - | ||
Partner | Pamplona | - | ||
Partner | Pamplona | - | - | |
Partner | - | - | - | |
Partner | Valladolid | - | - | |
Partner | Pamplona | - | - | |
Principal | Barcelona | - | - |
Co-investors of Clave
Over the past 21 years, 126 investors have co-invested in Clave's portfolio companies. This includes funds and angels.
- Invested before Clave: Europa, EIT Health and 18 others have invested in rounds before Clave. There are 9 companies where Europa has invested before Clave and 5 companies where EIT Health has invested before Clave.
- Top Co-investors of Clave: 60 investors entered a company along with Clave. These include investors like CDTI (6 companies).
- Invested after Clave: A total of 46 investors have invested in Clave's portfolio after their investments. Top Investors include Europa (3 companies), EIC Fund (3 companies) and European Innovation Council (2 companies).
Recent News related to Clave
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Clave Capital Divests From Uptech Sensing, Multiplying Its Investment By 2.4Webcapitalriesgo•Mar 24, 2026•UPTECH SENSING, Clave
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Pharmacelera Raises €6M to Expand in U.S.PR Newswire•Feb 18, 2026•HERAN Partners, Pharmacelera, Clave Capital, Bio&Tech Smart Capital and 2 others
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Aortyx raises €13.8M to launch vascular patch for aortic patientsTech Funding News•Jun 13, 2025•Aortyx, Ship2B Ventures, Clave
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Aortyx Secures €13.8M Series A for Aortic Dissection TreatmentStartup Rise EU•Jun 12, 2025•Aortyx, Ship2B Ventures, Clave, Nara Capital
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Niche Mobility closes a €1.6 million investment roundEl Referente•May 06, 2025•Niche Mobility, MONDRAGON Corporation, Copreci, Clave
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Wooptix closes €10M Round C led by Samsung and SETTDiario Siglo XXI•Feb 28, 2025•Wooptix, Samsung Venture Investment, Sociedad de Tasacion S.A., Bullnet Capital and 6 others
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Genbioma Applications Closes A €525,000 Round Covered By Clave And Wa4steamWebcapitalriesgo•Feb 11, 2025•Genbioma, Clave, WA4STEAM, Clave Capital
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Ángel Pidal becomes director of Clave, the HR consulting subsidiary of NortempoExpansion•Feb 03, 2025•Nortempo, Clave
