Cardumen Capital

Cardumen Capital is a Spanish-Israeli venture firm based in Madrid with a cross-border thesis: backing Israeli technology companies expanding into European markets and Spanish-Latin American technology companies expanding internationally. Their portfolio spans B2B software, fintech, AI, and selective healthcare and life-sciences deals where the cross-border story matters. Stage focus is Series A primarily, with seed participation, and check sizes plausibly EUR 1M to 5M with a willingness to lead in their thesis. For healthcare AI founders, Cardumen is most relevant if your company has a meaningful Israel-Europe or Spain-Latin America commercial dimension — Israeli AI medical imaging companies expanding into Spain, Spanish digital health companies entering broader European or Latin American markets, or teams with bilingual commercial leadership. Founders who should approach: Israeli or Spanish healthcare AI teams with a clear cross-border go-to-market, founders who value a culturally bridging investor, and teams pursuing commercial expansion across the firm’s geographic axes. Founders who should not approach: US-only digital health companies, biotech requiring deep specialist syndicates, and any team without a credible Israel-Europe or Spain-LatAm narrative. Cardumen’s value-add is geographic and cultural bridging, network access in Tel Aviv and Madrid, and downstream introductions to European Series A and B funds. Entry path is warm introduction through their portfolio CEOs, Israeli VCs co-investing in the corridor, or Spanish and Latin American operators in their network. Their Crunchbase and LinkedIn pages list portfolio companies that map the typical deal. Be prepared to articulate the cross-border thesis specifically — without it, the fit is weak.