We are excited to continue growing the Promus Ventures family and today welcome Maria Portoles to our investment team. Maria is joining us as a Principal in Luxembourg.

Maria is an experienced VC investor having spent a number of years as an investment professional at Innocells, Banco Sabadell’s VC fund, based in Madrid and focusing primarily on Fintech.

Maria has also been running her own angel syndicate where she has backed a dozen emerging start-ups globally across fintech, proptech, consumer internet and energy. …

From Nada to Bonanza

For those who haven’t been paying attention to the latest developments on Wall Street (and you will be forgiven given the number of crazy things going on in all corners of the world), 2020 was the year of the Special Purpose Acquisition Company (“SPAC”).

A once obscure, not so respectable nor respected instrument has becoming the fastest growing method of financing in the public and private markets. 248 SPAC IPOs raising $82.4Bn were priced in 2020 according to Dealogic, more than 4x the number of deals in the whole of 2019 and nearly 20x that of 2016. …

René Magritte: The Treachery of Images, oil on canvas 1929

A number of years ago, I read a book by French author Michel Houellebecq titled La Carte et le Territoire (the Map and the Territory), I was intrigued by the title which clearly referred to some kind of relationship between the two objects. Upon further investigation I learned about the map-territory relation describing the relationship between an object and the representation of that object. The expression was first coined by Polish American scholar Alfred Korzybski encapsulating the view that an abstraction derived from something is not the thing itself.

To me this is also one of the most interesting problems…

I am delighted to join the team at Promus Ventures and help establish our presence in the European market. I have been active in the European Venture Capital market for the best part of the last 15 years, initially at Atlas Ventures where I learned the trade from some of the best VCs in the business. There I was taught the basics and given the tools to support founders beyond the initial investment. …

Pierre Festal

Partner at Promus Ventures, supporting early stage deeptech entrepreneurs

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