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LULLWATER

C A P I T A L

Ambitious investors helping founders build what matters.

MADRID  ·  PARIS  ·  LONDON
APPLY FOR FUNDING OUR THESIS
Who We Are

We are not passive capital.

Lullwater Capital is a European angel investment group backing ambitious founders building scalable businesses with real traction. We invest $10,000–$75,000 in Seed and Series A companies across Madrid, Paris, and London.

"Beyond capital, we offer hands-on mentorship, strategic support, and access to our network across Europe. We move fast, think clearly, and back founders who are building something real."

Founded by Lukas Van de Vrede and Leon Gutierrez — IE University alumni united by ambition and a shared belief that the best investments are built on genuine partnership.

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Investment Thesis

What we back.

Stage
Seed & Series A
Revenue required
Ticket Size
$10k – $75k
USD per deal
Markets
Madrid · Paris · London
Europe focused
Sectors
Sector Agnostic
Strong teams & models
Instruments
SAFE · Equity
Preferred Stock for A+
Valuation
Case by Case
Based on fundamentals
Deal Flow
No Limit
Every good deal considered
Value Add
Capital + More
Mentorship, network, strategy
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Selection Criteria

What we look for.

We invest in
—Founders with conviction, domain expertise, and a clear vision
—Proven revenue traction — the business model works
—Scalable unit economics with a path to strong margins
—Large addressable market — we back ambitious ideas
—Capital efficiency — teams that do more with less
—Openness to mentorship and strategic collaboration
We don't invest in
—Pre-revenue or pure idea-stage companies
—Businesses without a clear path to scalability
—Founders unwilling to take feedback or iterate
—Sectors with structural regulatory barriers to growth
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The Team

The people behind Lullwater.

Lukas Van de Vrede
Co-Founder & Lead Investor

Leads the angel investor group and coordinates capital deployment. Brings strong business judgment and an extensive network across Europe to every deal. Currently studying at IE University in Madrid.

LinkedIn →
Leon Gutierrez
Co-Founder, Deal Lead & Analyst

Responsible for all deal sourcing, financial analysis, startup valuation, and due diligence. Leon filters every pitch and builds the investment thesis for each opportunity. Originally from Mexico, studying at IE University in Madrid.

LinkedIn →
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How It Works

Our process.

01
Application
Submit your pitch deck and a brief summary of your traction and financials. We respond to every application within 5 business days.
02
First-Round Screening
Shortlisted companies present to our Deal Lead in a focused 30-minute session. We evaluate your financial model, unit economics, and growth strategy.
03
Due Diligence
We conduct financial due diligence, market analysis, competitive landscape review, and founder background checks. Honest and thorough.
04
Investor Presentation
Companies passing due diligence present to the full Lullwater Capital investor group. Each angel receives a detailed Deal Memo prepared by our Deal Lead.
05
Decision & Close
Angels decide independently. Term sheet and documentation prepared. Target close within 2–4 weeks of investor approval. We move fast.
06
Post-Investment Partnership
Monthly check-ins, strategic support, and network introductions begin immediately. We are active partners, not passive observers.
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For Founders

Building something real with traction? We want to hear from you. Send us your pitch deck and a brief summary of your metrics. We respond to every application within 5 business days.

founders@lullwatercapital.com
For Investors

Interested in accessing curated deal flow without the burden of sourcing? We are selectively expanding our angel network. Let's connect.

investors@lullwatercapital.com
LULLWATER CAPITAL
MADRID  ·  PARIS  ·  LONDON