François Derbaix

François Derbaix is a highly influential and active angel investor based in Madrid, Spain, renowned for his entrepreneurial background and significant contributions to the Spanish startup ecosystem. As the co-founder and co-CEO of Indexa Capital, a leading automated investment manager in Spain, and previously the founder and CEO of Toprural (acquired by HomeAway), Derbaix brings deep operational experience and a founder-centric perspective to his investment activities. His transition from successful entrepreneur to prolific angel investor has made him a key figure in early-stage funding in Southern Europe.

Derbaix's investment thesis primarily centers on early-stage technology companies, with a strong preference for B2C and B2B SaaS models, fintech, and marketplace platforms. He has built an extensive portfolio of over 70 companies, demonstrating a broad yet strategic interest in scalable digital businesses. Notable investments include successful Spanish startups like Housfy, a digital real estate agency that achieved an IPO, and Factorial, a HR software platform. His portfolio reflects a keen eye for disruptive models and strong founding teams, often focusing on companies with a clear path to market leadership or significant user adoption.

As an angel investor, François Derbaix typically provides initial checks ranging from €50,000 to €150,000, although he has participated in smaller pre-seed rounds and larger follow-on investments. His involvement extends beyond capital, as he is known for offering strategic guidance, leveraging his extensive network, and providing mentorship to founders. This hands-on approach, combined with his operational expertise from scaling companies like Toprural and Indexa Capital, makes him a valuable partner for early-stage ventures seeking not just funding but also experienced guidance. He often co-invests with other prominent angel investors and early-stage venture capital firms, contributing to larger syndicates.

Derbaix's consistent activity and success in identifying promising ventures have solidified his reputation as one of Spain's most impactful angel investors. His investment philosophy emphasizes strong product-market fit, scalable business models, and resilient founding teams. He is particularly interested in companies that address clear market needs and demonstrate potential for significant growth. His long-term commitment to the ecosystem is evident in his continuous support for new entrepreneurs, contributing significantly to the maturation and internationalization of the Spanish tech scene.