The Lab Ventures has closed its second fund at €29.1 million, or roughly USD 33.8 million, strengthening its capacity to back early B2B innovation. The close was completed on July 3, 2025, with participation from Spain’s ICO and a group of European and Gulf family offices. The firm says the new capital will accelerate its founder-first, operationally intensive model across Spain, MENA, and the broader GCC.
Fund Overview
Fund II extends The Lab Ventures’ strategy of investing at pre-seed and seed while retaining the option to originate companies from scratch. The vehicle targets businesses where digitalization can unlock measurable efficiency and enterprise value. The firm positions this approach as a way to deliver competitive returns while creating tangible benefits in essential industries.
Investment Thesis and Sectors
The core focus remains B2B software in sectors where modernization materially improves workflows and outcomes. Priority areas include PropTech and Construction Tech, HealthTech, and the digitization of professional services, including AI-enabled capabilities. The mandate is deliberately early, giving the team scope to help founders reach product-market fit and commercial traction faster.
Operational Model
The Lab Ventures describes itself as an operational VC that builds and scales with founders day to day. Support spans product and engineering, go-to-market execution, and talent acquisition for C-level and critical roles. The firm also cultivates cross-portfolio collaboration to share customers, integrations, and learnings across related businesses.
LP Network and Market Access
General Partner Jonathan Lahyani underscores that the limited partners contribute more than capital. He points to sector expertise, regional access, and strategic relationships that can shorten sales cycles and open doors across Spain and the Gulf. The firm frames this network of operators and entrepreneurs as an active extension of its portfolio support.
Portfolio Activity to Date
Since the first close in 2024, the fund has deployed into seven companies spanning Southern Europe, the UAE, and emerging MENA and GCC markets. Recent activity includes two flagship MENA bets that illustrate the thesis in practice. These are PropSpace, a real estate CRM platform acquired from Property Finder to drive PropTech innovation, and Heale.io, a HealthTech platform that streamlines corporate health insurance by directly connecting employers and insurers.
Hands-On Execution
Partner Silvia Irisarri says the team works alongside founders on product strategy, customer acquisition, and operational execution. The aim is to help pre-seed companies achieve seed-stage metrics on a compressed timeline. The model is resource intensive by design, which the firm argues raises the probability of reaching repeatable sales and scalable processes.
Geographic Strategy
Dual offices in Madrid and Dubai give the firm on-the-ground presence in mature European markets and high-growth Gulf economies. This setup allows portfolio companies to navigate varied regulatory contexts and sell into diverse enterprise customer bases. It also helps founders localize products and partnerships without losing speed.
MENA Digitization Tailwinds
The Gulf is experiencing accelerated enterprise adoption of software as governments and corporates push digital transformation. That momentum creates openings for systems that modernize real estate operations, healthcare administration, and services workflows. The Lab Ventures aims to position its companies to ride those adoption curves with regional partners and experienced operators.
What Founders Can Expect
Beyond capital, founders gain direct access to product leaders, senior engineers, and business development specialists across Spain and MENA. The firm recruits key executives through its talent network and coordinates cross-portfolio introductions that can translate into customers. These resources are structured to close capability gaps that often slow early teams.
With a €29.1 million Fund II, The Lab Ventures is doubling down on B2B digitization at the earliest stages across Spain and the MENA region. The firm’s operational playbook, combined with an LP base that offers market access, is designed to help young companies convert promise into durable growth. Early deployments, including PropSpace and Heale.io, suggest a pipeline aligned with that thesis and a platform prepared to scale it.