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▶ 34:00 · $ENBAT · 4Founders backs Enbat treasury software at 30M SAFE despite missing CTO
episode briefing
SeedRocket TV

How Investors Really Think (What They Never Say in Public) | Live Panel Discussion

2026-05-20 · 14 company · 4 thematic
sentiment
14 bull0 bear0 neu
speakers
jesús monleón

Host of SeedRocket's 4Founders podcast; runs Go Trendier (a secondhand fashion marketplace) and 4Founders; actively applies AI learnings from guests to his own companies.

lauren arens

Investor at BStartup, Banco Sabadell's corporate venture arm investing off balance sheet via two vehicles (100-200k pre-seed/seed, 500k-2M follow-on/Series A) plus venture debt product; active in healthtech, hardware, biotech; backed Tiay, Mondo, Xnova (co-invest).

jaime novoa

GP at KFund managing ~650M AUM across three funds (11M pre-seed, 70M seed, larger growth) plus fund-of-funds and energy transition vehicles; invests 50% Spain, 25% Europe, 25% LatAm; backed Factorial, TravelPerk, Abacum, Hotel Networks.

marta campillo

Investor at Abac Ventures, the VC arm of Abac Capital (800M AUM multi-strategy platform); manages 20M Fund II deploying in pre-seed/seed with follow-on; backed Galtea, Xnova, Ánfora, Payflow, Taxdown; leverages PE portfolio for commercial validation.

quote
“Ahora la que tenemos en cartera que así mejor pinta tiene... es Enbat... 30 millones en un SAFE... software de tesorería... no tenían CTO... anti-invertir... pero el equipo es buenísimo... yo diría que en Enbat es la que mejor nos va ahora…”
—jesús monleón
now playing · $ENBAT
$HOLDEDbullish· medium· posjesús monleón
4Founders compounds Holded from 40k first check to 2M total investment
Followed-on from 40k initial ticket to 2M total across fund life, demonstrating conviction-building strategy in accounting software.
$TIAYbullish· medium· poslauren arens
BStartup invests in Tiay healthcare AI agents at 2.5M round with Plug and Play
Early bet on agentic AI applied to healthcare vertical; co-invested with Plug and Play in 2.5M round.
$COBEEbullish· high· posjesús monleón
4Founders exits Cobee at 27x MOIC with partial sales
Exited position achieving 27x multiple through partial sales, validating early conviction in benefits platform.
$FACTORIALbullish· high· posjaime novoa
KFund realizes 10M from 1% secondary in Factorial at unicorn valuation
Entered at 12-14M valuation in 2018, invested 4.5M total across fund life; recent secondary at 1B valuation returned 10M while retaining 5%+ ownership.
$GALTEAbullish· medium· posmarta campillo
Abac Ventures backs Galtea BSC spinout for AI product evaluation; Forte Ventures follows
Pre-seed investment in BSC spinout building enterprise AI evaluation platform; German deeptech specialist Forte Ventures led follow-on 12 months later validating technical thesis.
$FORTE-VENTURESbullish· mediummarta campillo
German deeptech specialist Forte Ventures validates Galtea with follow-on
Deeptech-focused German fund led Series A in Galtea 12 months after Abac's pre-seed, confirming technical thesis for AI evaluation platform.
$XNOVAbullish· medium· posmarta campillo
Abac Ventures' Xnova hits 1M+ ARR with global trade data coverage pivot
Mid-market import/export data software pivoted to global coverage, rapidly scaled past 1M ARR post-investment; co-invested with BStartup.
$ANFORAbullish· medium· posmarta campillo
Abac Ventures highlights Ánfora logistics at 40M+ revenue with minimal dilution
Bootstrapped logistics company doing 40M+ revenue with only one small round and internal bridge; efficient capital use could yield strong returns even at modest exit.
$ENBATbullish· high· posjesús monleón
4Founders backs Enbat treasury software at 30M SAFE despite missing CTO
Overruled initial anti-thesis (no CTO, high valuation, treasury software vs competitors) because of exceptional founding team (ex-investment bankers); now best portfolio candidate…
$ABACUMbullish· high· posjaime novoa
KFund flags Abacum as top performer in Fund II: FP&A software for CFOs
Invested pre-product/pre-revenue at COVID onset despite no CTO; now best performer in Fund II with strong traction in CFO software category.
$HOTEL-NETWORKSbullish· medium· posjaime novoa
KFund sells Hotel Networks secondary above 100M valuation
Achieved >100M exit via secondary transaction, returning meaningful capital to LPs.
$MONDObullish· medium· poslauren arens
BStartup exits Mondo travel insurance to JC Flowers
Realized liquidity through secondary sale to JC Flowers, demonstrating exit capability in insurance vertical.
$INDEX-VENTURESbullish· mediumlauren arens
Index Ventures' brand power forces pre-emptive term sheet in Trovit
Top-tier London fund's mere involvement compelled founder to sign with local investor before Index meeting, signaling brand dominance in competitive deals.
$Y-COMBINATORbullish· highjaime novoa
Y Combinator application triggers FOMO-driven pre-emption among Spanish VCs
YC brand creates immediate competitive tension; Spanish VCs rush to invest before YC batch entry to avoid adverse selection and valuation step-up.