Kibo Ventures sells Fund I portfolio to HarbourVest

Cuatrecasas has advised European venture capital company Kibo Ventures Partners on selling the existing Fund I portfolio to global management company HabourVest. The portfolio, which will continue to be managed by Kibo through a continuation fund, includes companies such as Flywire, JobandTalent, Carto, Blueliv, Qustodio, Worldsensing and Tappx.

HarbourVest also becomes the main investor of the Kibo Ventures Opportunity Fund I. This fund will continue to support some of the main companies in the portfolio and has so far invested in scale-up rounds of companies such as JobandTalent, Clarity, Paack, Devo and Exoticca.

This is one of the first secondary deals in venture capital in Spain. A Cuatrecasas team made up of Francisco J. Martínez, Alicia de Carlos, Jorge Canta, Lola Colomer, Edvinas Kiskis, Elena España and Laura Ros advised Kibo on the legal aspects of the transaction, and Alantra advised on the financial aspects.