Next Generation EU funds channelled to boost start-ups in digitalisation and advanced tech with social and environmental impact
Madrid, 26 November 2025. Spain’s Ministry for Digital Transformation and the Civil Service has announced that the Spanish Society for Technological Transformation (SETT) will invest €8 million in Zubi Capital, the Spanish impact investment manager backing early-stage companies developing innovative digital and deep-tech solutions to tackle major social and environmental challenges in a scalable, commercially viable way.
The commitment is part of the Government’s Next Tech financing instruments, which channel EU Recovery Plan resources to accelerate technology start-ups and scale-ups in strategic sectors. SETT highlighted the importance of directing public capital towards mission-oriented innovation. As Javier Ponce, Director-General of SETT, explained: “Through this public investment, SETT is supporting European and Spanish technology start-ups focused on solving social and environmental problems, especially in sectors where digitalisation is key to sustainability, diversity and social wellbeing. This operation aligns with our core mission: supporting Spanish companies — or those with substantial activity in Spain — that contribute to economic development, promote progress and accelerate the digital transition.”
The fund’s portfolio includes rapid and affordable diagnostic tools for endometriosis and abdominal cancer using biotechnology and AI; intelligent software for managing electric-vehicle charging; digital platforms that optimise waste-treatment plants; climate-tech solutions enabling cities to manage and measure progress towards their targets; sodium-ion batteries for energy storage; and circular-fashion platforms built on traceability and advanced recycling technologies.
According to José Nistal, CEO of Zubi Capital, this milestone marks a turning point for impact investing in Spain: “This announcement represents a significant step forward for Spain’s impact-investment ecosystem. It confirms that technology designed to solve structural challenges is now recognised as an institutional priority. Public–private collaboration is essential to scale solutions that offer genuine competitiveness while delivering measurable social benefits.”
Zubi Capital embeds a diversity and inclusion lens across its investment strategy, influencing both the selection of companies and the way their products and services are developed. As Carmen Pumariño, Investment Director of the fund, notes:“Diversity and inclusion are fundamental drivers of innovation. Applying this lens allows us to identify stronger teams, more comprehensive solutions and business models that respond more effectively to society’s real needs. SETT’s backing reinforces this approach and enables us to support companies that generate social and environmental impact from the outset, with verifiable metrics and international scalability, while achieving market returns.”
About Zubi Capital Asset Management SGEIC SA (Zubi Capital)
Zubi Capital is the impact investment manager of Zubi Group, the business ecosystem founded by impact entrepreneur Iker Marcaide. The firm manages two vehicles: an impact venture capital fund, where diversity and inclusion are a core part of the investment thesis on pre seed and seed stages, and an impact venture debt fund aimed at technology companies delivering measurable social and environmental outcomes, to address more mature financing stages.
Its strategy combines technological innovation, rigorous financial discipline and advanced impact measurement. Zubi Capital invests in European — and selectively global — start-ups tackling structural challenges across climate, health, social inclusion, industrial efficiency and the circular economy.
About SETT
The Spanish Society for Technological Transformation (SETT) is a public enterprise entity under the Ministry for Digital Transformation and the Civil Service. It finances and promotes advanced and transformative digital technologies.
SETT deploys capital through the Next Tech facility, which aims to mobilise private investment and improve access to finance in strategic sectors tied to Spain’s digital transformation. Next Tech forms part of Spain’s Recovery, Transformation and Resilience Plan (funded by the European Union’s Next Generation programme).
SETT also manages two additional financial instruments to strengthen Spain’s technological ecosystem: PERTE Chip, dedicated to microelectronics and semiconductors, and the Spain Audiovisual Hub, focused on driving the digitalisation of the audiovisual industry.