Spain’s Startup Momentum – with Toni Villuendas, Angels Capital | DeepDive CleanTech #102

In this DeepDive CleanTech episode, David Wortmann speaks with Toni
Villuendas, Investment Manager at Angels Capital, one of Spain’s
most active early-stage investors. Angels Capital follows a
distinctive philosophy: instead of chasing maximum returns, the
fund focuses on supporting founders, helping companies grow and
creating meaningful jobs. Toni shares how his team invests in
around 20 startups per year, why the founder often matters more
than the product and which types of ventures they intentionally
avoid. He also provides a snapshot of the Spanish startup and VC
ecosystem, which has matured quickly in recent years and is drawing
increasing attention from international investors — particularly in
mobility, energy, agritech and education technologies. He also
talks about Lanzadera in Valencia, the equity-free accelerator
connected to Angels Capital, and how it has helped turn the city
into one of Europe’s most dynamic emerging startup hubs.