Acurio Ventures Bilbao, ES
Acurio Ventures, formerly All Iron Ventures, is a Bilbao-based European generalist venture firm investing from pre-seed through Series B, with selective follow-ons. Its strategy generally excludes life sciences and crypto, although the Phagos investment is independently documented.
Founded 2018
Type Venture capital 2 Acurio Secondaries I FCR 2026-07-13 2026-07-13 €115M ApproximatelyEUR115Mclosed exceedingEUR100Mtarget; EuropeanVCfundsecondariesnotdirectstartupvehicle. FirstcloseendJune2025; aboveEUR450MaggregateAUMseparate.
Acurio Ventures III 2024-09-23 2024-09-23 €150M ClosedEUR150Mdirectstartupvehicle comprisesfundplusinvestmentcompany; notAUM.
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$1M $100K – $5M Barcelona, Spain $1M $100K – $5M Spain $1M $100K – $5M Spain $1M $100K – $5M Spain $1M $100K – $5M Spain $1M $100K – $5M Spain $1M $100K – $5M Spain — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – —
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$55M 2025-11-12 House Rx Acurio Ventures , First Round , Steve Kraus €25M 2025-10-08 Phagos Founders Fund , Hoxton Ventures , Citizen Capital , Station F , Acurio Ventures , Demea Invest $— 2025-09-29 Lexroom Acurio Ventures , Entourage $97M 2025-09-25 Thyme Care Acurio Ventures , Vineeta Agarwala $— 2025-09-09 Teton.ai Acurio Ventures , Plural $— 2025-07-22 Asylon Robotics Acurio Ventures $— 2025-07-10 TandemTrace Acurio Ventures $— 2025-06-24 Arine Acurio Ventures $— 2025-04-14 Arnergy Acurio Ventures $— 2025-04-03 UniteLabs Acurio Ventures $— 2025-03-04 Passentry Acurio Ventures $— 2025-02-18 Imperia Acurio Ventures £5M 2025-01-13 IntelexVision Acurio Ventures , Hugo Fernández-Mardomingo $— 2025 Teton.ai Acurio Ventures , Plural $— 2024-09-17 RunSafe Security Acurio Ventures $— 2024-09-10 Habitat Health Acurio Ventures $— 2024-07-24 Exoticca Acurio Ventures $55M 2024-07-16 Thyme Care Acurio Ventures , Vineeta Agarwala $5M 2024-06-21 MARBLE Khosla Ventures , Acurio Ventures , Daybreak Ventures , OMERS Ventures , Lorimer Ventures , Fika Ventures $— 2024-03-20 Imperia Acurio Ventures $— 2023-12-20 Crescenta Acurio Ventures €5M 2023-11-24 Floy 10x Founders , Acurio Ventures $— 2023-11-15 Last App Acurio Ventures $— 2023-10-16 Lanes & Planes Acurio Ventures $— 2023-08-22 Thyme Care Acurio Ventures $28M 2023-07-17 Torch Dental Acurio Ventures , Bessemer Venture Partners , Felicis $— 2023-05-31 Strivehealth Acurio Ventures $— 2023-03-13 SunHero Planet A Ventures , Acurio Ventures , Speedinvest $— 2023-03-10 MentorShow Acurio Ventures $11M 2023-02-16 Stuf Acurio Ventures , Ho Nam $— 2022-10-11 BeBrave Health Acurio Ventures $24M 2022-08-23 Plume Clinic General Catalyst , Transformation Capital , Acurio Ventures , Notion Capital , Hemant Taneja $— 2022-08-18 Koolboks Acurio Ventures $— 2022-08-17 Microverse General Catalyst , Acurio Ventures , True Ventures , Northzone , Rubio Impact Ventures $— 2022-07-27 Seedtag Acurio Ventures $— 2022-07-14 Robin Acurio Ventures , boldstart ventures $— 2022-06-28 Screenloop Acurio Ventures $— 2022-05-04 Mint House Acurio Ventures $— 2022 HeyTeam Acurio Ventures $— 2021-11-03 ABOUND Acurio Ventures $— 2021-09-29 ToothFairy Acurio Ventures , Atomico $— 2021-09-14 Seedtag Acurio Ventures $— 2021-08-03 Instacarro Acurio Ventures $— 2021-06-29 Mapped Acurio Ventures $— 2021-05-19 Virtex Acurio Ventures $— 2021-04-28 Barkyn Acurio Ventures $— 2021-04-14 HqO Acurio Ventures $— 2021-03-10 Preply Point Nine Capital , Acurio Ventures , Hoxton Ventures , Owl Ventures , Full In Partners $— 2021-02-02 Plume Clinic General Catalyst , Slow Ventures , Acurio Ventures , Craft Ventures $12M 2020-12-22 VergeSense Y Combinator , WestCap , Acurio Ventures , MetaProp , Toba Capital , Pathbreaker Ventures $26M 2020-09-23 Uncapped Founders Fund , Seedcamp , Angel Invest , Acurio Ventures , White Star Capital , Mouro Capital $— 2020-07-16 Openpath Acurio Ventures $— 2020-06-23 Somatus Acurio Ventures $9M 2020-05-21 VergeSense Y Combinator , WestCap , Acurio Ventures , MetaProp , JLL Spark , Pathbreaker Ventures $— 2019-09-04 VillageMD Acurio Ventures $— 2019-05-23 Kodit.io Acurio Ventures , Speedinvest $— 2019-01-10 MrJeff Acurio Ventures $— 2018-12-05 Pindrop Acurio Ventures $— 2018-11-29 Bright Health Acurio Ventures , Bessemer Venture Partners $— 2018-10-02 Lingokids Acurio Ventures $— 2017-12-08 Genies Acurio Ventures $— Unknown date Those Beyond Acurio Ventures $— Unknown date Rabot Charge Acurio Ventures $— Unknown date Rabot Charge Acurio Ventures $— Unknown date Rabot Charge Acurio Ventures $— Unknown date Manglai Acurio Ventures $— Unknown date Frekuent Acurio Ventures $— Unknown date Frekuent Acurio Ventures $— Unknown date Flagcat Acurio Ventures $— Unknown date Deporvillage Acurio Ventures $— Unknown date Apeteat Acurio Ventures $— Unknown date Alpagga Acurio Ventures $— Unknown date Aetion Acurio Ventures $— 2021-06-10 AllyAlign Health Acurio Ventures $— 2019-04-11 Cityblock 8VC , Acurio Ventures $— 2018-12-20 Gamelearn Acurio Ventures $— 2014-03-24 Silent Herdsman Acurio Ventures
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team@apexlogos.ai · 15 hours ago
team@apexlogos.ai · 15 hours ago
Match research 2026-10-06 / AcurioVentures / sha256:d71b65ac4fe405d84edc3ed6644ba461469592ae452c98550df9768da1eef793 / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
**No verified neurotech investment found in the sources checked.** Sources checked include the exact Adex snapshot, current official portfolio and strategy, Signal partner evidence, the funding announcements above, and targeted searches for Acurio with neurotech/brain/neuroscience terminology. This is a bounded search result, not a statement that no such investments exist.
Floy's general medical imaging technology is adjacent; the checked sources do not establish a dedicated neural recording, stimulation, BCI, or brain-specific technology product. Phagos is antibacterial biotechnology, not neuroscience. General AI does not qualify as neurotech merely because models use neural networks. The snapshot's Brave Health/BeBrave Health entry concerns mental-health service delivery and is not evidence of neural technology; firm attribution for that entry was not verified here.
## Conflicts, attribution caveats and later Adex review
1. **Fund refresh:** Adex's €150 million Fund III statement remains supported, but omits the separate July 2026 €115 million secondaries close and above-€450 million aggregate AUM. Keep each measure distinct.
2. **Current mandate:** Review expanding the stage summary to pre-seed–Series B and generalist strategy based on the official FAQ. Do not turn a confirmed Phagos investment into a blanket life-sciences mandate; flag the apparent exception to current policy.
3. **Phagos co-investor conflict:** Snapshot Goldi-derived evidence lists Founders Fund. The actual company announcement lists **Founders Capital**. This report does not verify Founders Fund participation. Prefer the official source when reviewing that round.
4. **Portfolio footnote:** The official portfolio includes a disclaimer that team members have been involved in investment/divestment decisions and portfolio support. Consequently, an appearance alone can be insufficient to establish the present firm's capital participation. The three investments above have corroborating round attribution; other entries require the same check.
5. **Suspicious Asylon participation:** The snapshot assigns Asylon Robotics' July 2025 round to Acurio. A [company release reproduced by VCA Online, 2025-07-22](https://www.vcaonline.com/news/2025072207/asylon-robotics-raises-24-million-series-b-funding-led-by-insight-partners-to-accelerate-the-future-of-automated-security/ ) names Insight, Veteran Ventures, Allegion and GO PA, and reports $24 million. Acurio was not verified in that round. Keep this as an attribution/amount conflict, not a verified Acurio robotics investment; omission from a named list alone is not proof of nonparticipation.
6. **Missing detail:** Exact Acurio checks, vehicle allocation for each investment, comprehensive earliest funds' sizes, and any undisclosed neurotechnology positions remain unverified. Review pre-2018 and partner-history entries individually before assigning them to the firm. Signal's old-brand €140 million field has no usable vintage.
All linked sources were accessed 2026-10-06. This file is research for subsequent Adex review; no database writes, MCP Patch calls, commits, or manifest edits were made. SHOW MORE
team@apexlogos.ai · 15 hours ago
Match research 2026-10-06 / AcurioVentures / sha256:d71b65ac4fe405d84edc3ed6644ba461469592ae452c98550df9768da1eef793 / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# Acurio Ventures
- Exact Adex ID: `AcurioVentures`
- Canonical Adex URL: https://adex.page/firms/AcurioVentures
- Research date and source-access date: 2026-10-06
- Research status: complete for this review; outstanding uncertainties are recorded below.
## Identity and summary
Acurio Ventures is the European venture firm formerly branded All Iron Ventures, renamed in September 2024. Its direct startup strategy is early-stage and generalist, primarily European. Verified investment examples include bacteriophage biotechnology company Phagos, radiology AI company Floy, and video analytics company Intelex Vision. These support selective deep-tech exposure; they do not establish a specialist neurotechnology mandate. Official current guidance generally excludes life sciences, despite the independently documented Phagos transaction. [Official strategy, undated](https://www.acurio.vc/how-we-invest ); [2024 rebrand reporting, 2024-09-23](https://www.europapress.es/economia/finanzas-00340/noticia-all-iron-ventures-transforma-acurio-ventures-lanza-tercer-fondo-150-millones-euros-20240923080052.html ).
## Adex and NFX starting evidence
The exact-ID saved MCP snapshot is `data/research/_sources/AcurioVentures.adex.json`, retrieved 2026-10-06T19:29:34.933Z. It describes a Bilbao-based seed/Series A firm focused on marketplaces, subscriptions and ecommerce, and records Fund III at €150 million. Its investor-profile check minimum, maximum and sweet spot are null. Numerous investment participations mix Goldi claims, public funding articles, and Signal personal histories. They are starting leads, not independently verified firm transactions. Pre-2018 entries, such as Silent Herdsman in 2014 and Genies in 2017, especially require attribution review because the official team describes the firm's start in early 2018. [Official team, undated](https://www.acurio.vc/team ).
The snapshot's firm-level [NFX Signal URL](https://signal.nfx.com/firms/acurio-ventures ) returned an internal browser error. Related [Ander Michelena Signal profile](https://signal.nfx.com/investors/ander-michelena ) was directly readable and search-index accessible, although its rendered title and indexed current-role text vary. Indexed claims include Acurio partner, a $100,000–$5 million investment range, a $1.5 million sweet spot, and seed/Series A marketplace and enterprise rankings. These are personal-profile claims, not a verified firm check policy. Indexed [Jon Uriarte profile](https://signal.nfx.com/investors/jon-uriarte ) retains the old All Iron brand and a €140 million current-fund field without a vintage. This is stale or ambiguous alongside dated fund announcements; do not promote it to a current fund size. Signal roles, co-investors and personal track records do not establish that Acurio invested in each listed company. Both profile sources undated, accessed 2026-10-06.
## Fund sizes and status
| Vehicle/measure | Amount and status | Date and evidence |
| --- | --- | --- |
| Acurio Ventures III, third direct startup vehicle | €150 million successfully closed; not merely a fundraising target. The vehicle structure comprises a fund and an investment company. | Closure/rebrand announced 2024-09-23: [Europa Press](https://www.europapress.es/economia/finanzas-00340/noticia-all-iron-ventures-transforma-acurio-ventures-lanza-tercer-fondo-150-millones-euros-20240923080052.html ). Firm-authored confirmation published 2024-10-22: [Diego Recondo fundraising account](https://medium.com/all-iron-ventures/raising-a-vc-fund-successfully-in-the-current-tough-market-lessons-learned-and-insights-part-1-254e90500b55 ). |
| Acurio Secondaries I FCR | Approximately €115 million closed, exceeding €100 million target; first close at end of June 2025. European VC fund secondaries, separate from direct startup investment. | [SpainCap-hosted firm press release, 2026-07-13](https://www.spaincap.org/comunicacion/noticias/acurio-ventures-cierra-un-fondo-pionero-de-115-millones-centrado-en-secundarios-en-fondos-de-venture-capital-europeos ). |
| Firm AUM | The same July 2026 announcement states the close brings AUM above €450 million across five vehicles. This is firm aggregate AUM, not Fund III's size or startup investment budget. | Same SpainCap release, 2026-07-13. |
The July 2026 release still identifies Fund III as the most recent direct startup vehicle and says it remains in its investment period. Secondaries I is the newest closed vehicle found in this research; no subsequent fund close was verified. Regulatory corroboration: [CNMV Fund III record](https://www.cnmv.es/portal/consultas/ecr/fondo?lang=es&nif=V13647102&vista=38 ) shows registration 434 on 2023-07-14 and 2025 audit information. Registration/audit presence does not independently certify €150 million commitments.
## Investment stages and mandate
Current [official strategy](https://www.acurio.vc/how-we-invest ) states pre-seed through Series B, initial checks up to €3 million, selective follow-ons typically through Series B, and usually single-digit ownership. It permits leading or co-leading as well as co-investing. Europe is the usual geography, with opportunistic US/Latin American activity. It describes a generalist strategy with life sciences and crypto generally outside scope. Page undated, accessed 2026-10-06.
These current statements are broader than Adex's seed/Series A and business-model description. A 2024 [TechCrunch headline](https://techcrunch.com/2024/09/23/all-iron-ventures-rebrands-as-acurio-ventures-with-a-new-e150m-follow-on-fund/ ) characterized Fund III as a follow-on fund; current firm-wide guidance allows lead/co-lead participation. Preserve the distinction between vintage-specific launch reporting and today's firm policy, rather than treating one as universal.
## Named previous deep-tech investments
Amounts below are total rounds, not Acurio's checks. “Deep tech” classification is this researcher's assessment of the underlying technology; company marketing alone does not establish scientific defensibility.
| Company and rationale | Verified firm attribution and funding | Sources and dates |
| --- | --- | --- |
| **Phagos** — personalized bacteriophage treatments for bacterial disease, supported by microbiology and AI-assisted phage discovery. Strong biotechnology/deep-tech example; veterinary commercialization, with human-health expansion proposed. | Official investee announcement explicitly names Acurio as a participant in the €25 million Series A, co-led by CapAgro, Hoxton Ventures, CapHorn and Demeter. No Acurio check disclosed. | [Phagos announcement](https://www.phagos.com/fr/resources/series-a-fundraising ), 2025-10-08; [official Acurio portfolio](https://www.acurio.vc/portfolio ), undated. |
| **Floy** — clinical AI to detect subtle abnormalities in CT/MRI scans. Applied medical AI; underlying novelty/technical moat not independently assessed here. Radiology does not automatically imply neurotech. | €5.4 million seed reported 2023-11-24, led by HV Capital with All Iron Ventures participating. Attribution carries through the documented rebrand, and today's Acurio portfolio lists Floy. | [Tech.eu funding reporting](https://tech.eu/2023/11/24/floy-s-ai-solution-for-radiology-diagnostics-secures-5-4m-seed-funding/ ), 2023-11-24; [Floy official news archive](https://www.floy.com/en/news?51695e17_page=4 ), corresponding November 24, 2023 funding-news entry; [Acurio portfolio](https://www.acurio.vc/portfolio ), undated. The official archive corroborates a funding-news entry; detailed participant evidence is reporting plus the firm portfolio. |
| **Intelex Vision** — proprietary AI-driven video analytics for real-time threat detection in physical infrastructure. Applied computer vision, a qualified deep-tech candidate rather than a hardware investment. | Official investee announcement names Acurio, Adara and Inveready backing a £5.6 million ($7 million) Series A; includes commentary attributed to Acurio partner Hugo Fernández-Mardomingo. No individual check or lead designation disclosed. | [Intelex Vision funding announcement](https://intelexvision.com/news/intelex-vision-raises-5-6m-7-0m-series-a-funding/ ), 2025-01-13; [Acurio portfolio](https://www.acurio.vc/portfolio ), undated. Browser extraction intermittently failed; direct HTTP HTML read and search index confirmed the announcement. |
Ordinary SaaS, ecommerce, fintech, education marketplaces and general care-delivery businesses have not been relabeled deep tech simply because the snapshot includes them.
## Neurotech findings SHOW MORE
team@apexlogos.ai · 23 days ago
MATCH 
General Catalyst
Plume Clinic$24M · 2022-08-23
Microverse$— · 2022-08-17
Bessemer Venture Partners
Torch Dental$28M · 2023-07-17
Bright Health$— · 2018-11-29
VergeSense$12M · 2020-12-22
Vineeta Agarwala
Thyme Care$97M · 2025-09-25
Y Combinator
10x Founders
Floy€5M · 2023-11-24
Uncapped$26M · 2020-09-23
Atomico
ToothFairy$— · 2021-09-29
boldstart ventures
Robin$— · 2022-07-14
Phagos€25M · 2025-10-08
MARBLE$5M · 2024-06-21
Felicis
First Round
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Preply$— · 2021-03-10
Hemant Taneja
Hugo Fernández-Mardomingo
IntelexVision£5M · 2025-01-13
Khosla Ventures
Northzone
Notion Capital
Planet A Ventures
SunHero$— · 2023-03-13
Point Nine Capital
Steve Kraus
True Ventures
White Star Capital
