# Bullnet Capital

> Bullnet Capital is a VC fund backing Software and Manufacturing. See 66 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Pozuelo De Alarcón, Spain
- Total investments: 66
- Last investment: May 2026
- Lead investor: 42%
- Fund size: $47M
- Last fund: Mar 2023
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/bullnet-capital/
- X (Twitter): http://twitter.com/bullnetcapital
- Website: http://www.bullnetcapital.com/

Bullnet Capital is a VC fund in Pozuelo De Alarcón focused on Software and Manufacturing. Bullnet Gestión, SGECR, S.A. is a venture capital firm specializing in early stage to development capital financing. The firm prefers to invest in technology oriented projects with a focus on software, hardware, and high value added services. It invests in companies originated and based in Spain. The firm typically invests between € 1million and €2.5 million in its portfolio companies, but is open to consider either smaller or larger rounds. It seeks to co-invest in larger projects. Bullnet Gestión, SGECR, S.A. was founded in 2001 and is based in Pozuelo de Alarcón, Spain.

## Contacts

5 contacts available for Bullnet Capital. Shizune tracks 5 team members at Bullnet Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/bullnet-gestion?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1M–$3.2M |
| Series A | $567k–$11M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 9 | 14% |
| Manufacturing | 5 | 8% |
| Information Technology | 5 | 8% |
| Mobile | 3 | 5% |
| Computer | 3 | 5% |

59 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Funding Round | 15 | 23% |
| Seed | 11 | 17% |
| Series A | 8 | 12% |
| Series B | 5 | 8% |
| Venture - Series Unknown | 4 | 6% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Spain | 22 | 33% |
| United States | 2 | 3% |
| Mexico | 1 | 2% |
| Portugal | 1 | 2% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Carmen Arenzana | Finance Director | 0 | https://shizune.co/investors/profile/carmen-arenzana |
| Javier Ulecia | Founding Partner | 10 | https://shizune.co/investors/profile/javier-ulecia |
| Jorge Fernández | Investment Analyst | 0 | https://shizune.co/investors/profile/jorge-fern%C3%A1ndez |
| José Luis Gómez | Investment Manager | 0 | https://shizune.co/investors/profile/jos-luis-g-mez |
| Miguel del Cañizo | Partner | 5 | https://shizune.co/investors/profile/miguel-del-ca-izo |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| FlexiiC | FlexiiC is a deep-tech firm developing printed, flexible integrated circuits for sustainable IoT and smart packaging solutions. | $2.4M | Seed | May 07, 2026 |  |
| Impetux Optics | IMPETUX develops and markets patented technology to characterise the mechanical properties of living tissues and cells. We are focusing the application of our technology in fields like Mechanobiology where the study of diseases directly related with cell migration or development are demanding new techniques. We offer cutting-edge non-invasive to... | $2.9M | Venture - Series Unknown | May 04, 2026 |  |
| Bioherent | Photonic biosensors for drug allergy diagnosis |  | Seed | Jul 17, 2025 |  |
| wooptix | A word About US.A bunch of visionary people. Scientific scouts. Daring entrepreneurs. Just a crew of dreamers, all with a common goal. Improving Human Experience.They give a Key to interact with the world through your imagination & our technology. Is a new way to play with the environment. Mountains. Trees. Clouds. Flowers. Rivers. Rocks.Animals. Waves. People. Friends. And a new way to show your feelings. flying, exploring, Surfing & Underwater. | $10.4M | Series C | Feb 19, 2025 |  |
| Inspiration-Q | Inspiration-Q focuses on developing and commercializing software solutions inspired by quantum computing for financial applications. |  | Venture - Series Unknown | Sep 03, 2024 |  |
| Inmersia | Inmersia is developing the next generation of AR and VR smart glasses for daily use |  | Seed | Aug 01, 2024 |  |
| MLCode | ML/AI Data Automation and Security |  | Seed | May 09, 2024 |  |
| MLCode | ML/AI Data Automation and Security |  | Seed | May 09, 2024 |  |
| Mapsi Photonics | Mapsi Photonics focuses on developing macroporous silicon infrared filters for industrial applications like gas identification and thermal vision, aiming to improve performance, cost, resolution, operational range, and environmental footprint. | $1.6M | Seed | Apr 25, 2024 |  |
| Mapsi Photonics | Mapsi Photonics focuses on developing macroporous silicon infrared filters for industrial applications like gas identification and thermal vision, aiming to improve performance, cost, resolution, operational range, and environmental footprint. | $1.6M | Seed | Apr 25, 2024 |  |

10 of 66 investments shown.

## Co-investors
- [Centre for the Development of Industrial Technology (CDTI)](https://shizune.co/investors/profile/centre-for-the-development-of-industrial-technology-cdti) — VC Fund, 11 deals together
- [Criteria Venture Tech](https://shizune.co/investors/profile/caixa-capital) — VC Fund, 7 deals together
- [INNVIERTE ECONOMIA SOSTENIBLE SICC SME SA](https://shizune.co/investors/profile/innvierte-economia-sostenible-sicc-sme-sa) — VC Fund, 6 deals together
- [Intel Capital](https://shizune.co/investors/profile/intel-capital) — VC Fund, 3 deals together
- [Inveready](https://shizune.co/investors/profile/inveready-technology-investment-group) — VC Fund, 3 deals together
- [Kibo Ventures](https://shizune.co/investors/profile/kibo-ventures) — VC Fund, 3 deals together

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## FAQ

### What does Bullnet Capital invest in?

Bullnet Capital invests primarily in Software, Manufacturing and Information Technology startups, most often at Funding Round and Seed stage. Most of the 66 investments tracked by Shizune back companies in Spain. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Bullnet Capital's check size?

Bullnet Capital typically joins rounds of $1M–$3.2M at Seed and $567k–$11M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Bullnet Capital participates in.

### How do I contact Bullnet Capital?

Public channels for Bullnet Capital include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Bullnet Capital?

The team at Bullnet Capital includes Carmen Arenzana (Finance Director), Javier Ulecia (Founding Partner) and Jorge Fernández (Investment Analyst). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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