# Road Capital: portfolio, investments and team > Road Capital is a hedge fund based in Spain. 3 investments on record, latest Oct 2025. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/road-capital (Millionrounds; every figure on the page links to its filing or article) Spain · [Investor](https://millionrounds.com/investors) # Road Capital Filed with the SEC to raise a fund in Jan 2026, closing $25M. Last cheque observed Oct 2025. Email Hedge fund Quiet New fund $25M, Jan 2026 Series A Series B Venture Capital & Private Equity Follow Road Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Froad-capital) Cheques on record **0%** of best year **0** **cheques in 12 months**, 3 on record Since the last cheque **396** days **00** hrs **00** min **00** sec Median round **$7.2M** Rounds led **2 of 3** Pitch Road Capital ## Road Capital highlights - 01 3 rounds on record - 02 Mostly Series A and Series B: 100% of its rounds - 03 Led 2 rounds ## What they do - **Type:** Hedge fund (from a list, unverified) - **Cheque size:** Not stated - **Sectors:** Venture Capital & Private Equity - **Based in:** Barcelona, Spain - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **3 appearances** - **2025** 2 rounds - **Oct** **[Crunch Lab](https://millionrounds.com/company/crunch-lab)** TechStartups **$5.0M** *Led* - **Oct** **[Celaid Therapeutics](https://millionrounds.com/company/celaid-therapeutics)** Series B · JP · TechStartups **$7.2M** *Led* - **2022** 1 round - **Jun** **[Delphia](https://millionrounds.com/company/delphia)** Series A · Multicoin Capital **$60M** With 11 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **3 named** AD **Alexander Devnew** CHIEF OPERATING OFFICER OF ISSUER'S GP i Filing they signed JG **Jonathan Greenstein** CHIEF LEGAL OFFICER OF ISSUER'S GP i Filing they signed TB **Thomas Bailey** FOUNDER OF ISSUER'S GP i Filing they signed We also hold **3** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. New fund on file **$25M** raised in Jan 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Series A Series B Median round joined **$7.2M** the round, not its cheque Led 2 of 3 rounds **67%** - **Sole investor:** Never alone - **Last cheque:** Oct 2025 Rounds by stage said on their site - Series A *1* - Series B *1* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Multicoin Capital](https://millionrounds.com/fund/multicoin-capital) 2 **Pitching Road Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Road Capital. A count of rooms they were both in, not a relationship either has claimed. [**Multicoin Capital** VC firm **2** rounds together](https://millionrounds.com/fund/multicoin-capital) ## Recently backed The latest companies Road Capital put money into. [**Crunch Lab** $5.0M · Oct 2025](https://millionrounds.com/company/crunch-lab)[**Celaid Therapeutics** $7.2M · Oct 2025](https://millionrounds.com/company/celaid-therapeutics)[**Delphia** $60M · Jun 2022](https://millionrounds.com/company/delphia) ## Quick answers about Road Capital ### What does Road Capital invest in? Road Capital invests most often at Series A and Series B (100% of the rounds on record), in sectors such as Venture Capital & Private Equity. ### How active is Road Capital? 3 investments on record, 0 of them in the last 12 months, and it led 2. The most recent was in Oct 2025. ### What has Road Capital invested in recently? Its most recent investments on record: Crunch Lab (Oct 2025), Celaid Therapeutics (Series B, Oct 2025) and Delphia (Series A, Jun 2022). ### How big are Road Capital's cheques? The median round it joins is $7.2M. ### Is Road Capital investing now? No investments in the last 12 months; the latest was in Oct 2025. ### Who does Road Capital invest alongside? Most often Multicoin Capital (2 rounds together). ### What kind of investor is Road Capital? Road Capital is a hedge fund based in Barcelona, Spain. ### Has Road Capital raised a new fund? Its latest fund filing with the SEC was in Jan 2026, reporting $25M raised. ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=road-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=road-capital)