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The Venture Codex

Spanish Government

Avda. Puerta de Hierro, s/n, Madrid, 28071, Spain

Overview

Ministry of Science and Innovation of Spain provides policies for universities, scientific and technical research, technological development

Total investments
3
Lead investments
3
Investments · 12mo
0
Active investors
0
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Investment portfolio

  • Orikine Bio

    Led · Equity · Dec 2024

    Orikine Bio focuses on discovering, researching, and developing precision-engineered bi-specific cytokine drugs for autoimmune and inflammatory disorders. Its proprietary FoldikineTM platform re-designs natural cytokines into optimized, dual-acting proteins called Foldikines that can more precisely modulate immune responses. The lead candidate, FoldikineTM ORK-1, targets autoimmune and inflammatory diseases and is currently in preclinical development. Orikine plans to use fresh capital to establish preclinical proof-of-concept data for ORK-1, a key step toward future clinical trials. Beyond ORK-1, the company intends to expand its pipeline to address additional autoimmune, inflammatory, and oncology indications. No revenue or user metrics have been disclosed, reflecting the company’s early R&D stage. Financially, Orikine Bio relies on innovation grants and research funding to progress its platform and pipeline.

  • PLD Space

    Led · Debt Financing · Jan 2024

    PLD Space is developing the MIURA 5, a two-stage, partially reusable rocket designed to deploy small satellites into orbit with higher flexibility and reduced scheduling complexity. The company plans MIURA 5’s first test flight in 2026 and expects the vehicle to support up to 30 missions per year from several spaceports, including the Guiana Space Centre. PLD Space aims to scale its industrial and launch infrastructure to serve a global pipeline of commercial and institutional customers. The MIURA 5 program emphasizes reusability to provide a more sustainable approach to launches. Financially, PLD Space reported securing €210 million in 2026, which includes a €180 million Series C closed in March and a €30 million venture debt loan from the European Investment Bank. The company positions itself among a select group of private firms developing end-to-end launch systems to enable reliable access to space.

  • Destinus

    Led · Grant · May 2023

    Founded in 2021 by Mikhail Kokorich, Destinus has evolved from hypersonic aviation research into a defence industrial company centered on the Ruta cruise missile system, which has been operationally validated and deployed by Ukrainian forces since 2023. In early 2026 the company unveiled the Ruta Block2, capable of carrying a 250-kilogram payload with a range up to 450 kilometres; its product lineup also includes the Hornet interceptor drone and longer-range autonomous strike platforms under development. Destinus employs about 750 engineers and specialists across production facilities in the Netherlands, Germany, Spain, and Ukraine, and manufactures more than 2,000 cruise missile systems annually. The company projects roughly €500 million in annual revenue and has raised nearly €400 million to date, including convertible instruments, shareholder loans, and a €50 million bank facility from Commerzbank. Strategic moves include the $225 million acquisition of Daedalean to bolster AI and autonomous flight capabilities and a joint venture with Rheinmetall to industrialize production (Rheinmetall 51%, Destinus 49%). Destinus is pursuing a pre-IPO capital raise and aims to list on the Amsterdam stock exchange.

Team

No current team members are available.