Yesterday's presentation entitled Different perspectives on the current moment of investment, given exclusively by women investors at Banco Sabadell's BStartup stand at the 4YFN of the MWC brought together eight high-level representatives from different investment vehicles, from large corporations to Venture Builders, Family Offices and accelerators: Elena de Benavides, investment director of Elewit-REDEIA (former Red Eléctrica); Marta Antúnez, director of Wayra-Telefónica Barcelona; Sonia Fernández, partner at Kibo Ventures; Marta Nogueras, director of Lanzadera; Paloma Cañete, investment director of Fides Capital; Elisabeth Martínez, partner of Nuclio, Helena Torras, of Tech seed stage investor of Hans(wo)men Group and Yolanda Pérez, director of BStartup, who served as moderator.
Although they contributed their different perspectives on the current moment of investment, they all agreed that since last year it has taken longer to close any round than in previous years and that more must be demanded from startups, but that in 2024 there will be more money to invest.
According to Helena Torras, “now the level of demand from an external investor is much higher than a year and a half ago. Money is more conservative and slower. We have better prospects for 2024, but I don't think we are coming out of the tunnel yet”, while for Marta Antúnez “2023 was hard, but it has forced companies to focus, to produce and only spend what is strictly necessary. “We have continued to invest, and artificial intelligence has been the only sector with joy and companies raising higher investments, although it is too early to evaluate what it may become.”
Paloma Cañete emphasized that “being a family office, when it comes to investing we are cautious and take it calmly. If we do not see projects with criteria that fit the valuations, we do not invest and nothing happens. You don't have to put money into just anything, but into projects that make sense. I think this will be a year of transition, I hope that along the way there has been more learning and things are done with more discretion.” Along these lines, Elisabeth Martínez confirmed that “as investors, we have been much slower. “Everything is costing more and is taking longer, so we approve fewer investments.”
Sonia Fernández assured that “there are open funds and we want to invest, but the measuring bar is much higher, it is the reality of the market. Entrepreneurs have to step up to the plate at all levels: have the numbers, bring in people better than them... ”For her part, Elena de Benavides maintained that “if a startup is good, we must support it. This year, investments from business angels are rising, so we hope that capital will flow a little more.”
Marta Nogueras stressed that “last year was one of correction and reality. The entrepreneur must be aware that what makes him live or die are the clients. He has to reconcile attracting clients and raising capital, knowing how he has the foundations and valuing his resilience.” Likewise, Yolanda Pérez acknowledged that “2023 has not been easy and everything was very cautious, but we were coming off a couple of exceptional years. We have noticed that there are companies in our portfolio that have suffered. As a bank, we see that startups approach it in a different way, with much more concern. But there is money and it will wake up.”
