Nzyme: 10 Key Things You Must Know

Overview

Nzyme is a cutting-edge private equity fund launched in 2023, designed specifically to accelerate the growth and digital transformation of established Spanish small and medium-sized enterprises (SMEs). Backed by the reputable venture capital firm Kibo Ventures and supported strategically by the global consultancy Oliver Wyman, Nzyme focuses primarily on B2B sectors characterized by fragmentation and traditional business models ripe for innovation. By investing substantial equity—typically between €10 million and €20 million—into profitable companies with strong growth potential, Nzyme serves as a catalyst for scaling operations, integrating advanced technologies, and expanding international footprints. This article explores ten key facets of Nzyme’s role, strategy, and impact in helping Spanish SMEs become market leaders in their industries.

1. Origins and Founding Vision

Nzyme was established in 2023 as a private equity fund under the umbrella of Kibo Ventures, a Madrid-based VC firm known for backing innovative tech startups. The fund was co-founded by experienced industry figures including Fernando Díaz Solís, José Manuel Gasalla, Juan López, and Vicente Vázquez. Inspired by the biological concept of enzymes that accelerate transformation reactions, Nzyme’s vision is to similarly act as a catalyst for business transformation. It aims to support well-established companies that are on the cusp of scaling by facilitating their digital adoption and business consolidation. The fund emphasizes a hands-on partnership approach, working closely with entrepreneurial teams to spur sustainable growth.

2. Investment Strategy and Focus

Nzyme targets established Spanish companies that demonstrate profitability and positive EBITDA, typically starting at about €1 million, and that employ around 20 or more people. The fund prefers sectors with pronounced fragmentation where consolidation combined with technological innovation can generate significant competitive advantages. Its equity investments typically range from €10 million to €20 million, making it well-suited to build and expand sector platforms via acquisitions and business integrations. Nzyme prioritizes B2B service companies and software providers but remains open to opportunities across any industry with high-growth potential through tech adoption.

3. Driving Digital Transformation

One of Nzyme’s core mandates is to accelerate the digitalization of traditional SMEs. It leverages advanced technologies—including artificial intelligence (AI), big data analytics, machine learning, Internet of Things (IoT), edge computing, and cloud infrastructure—to increase operational efficiency and scalability. By introducing cutting-edge automation, data-driven decision-making, and integrated technology stacks, Nzyme helps its portfolio companies modernize business processes, improve margins, and better compete internationally. This tech-first mindset is key to overcoming traditional industry fragmentation and enabling exponential growth.

4. Scaling Businesses Beyond Local Markets

Nzyme’s vision extends beyond merely supporting local growth; it emphasizes international expansion and scalability. Many of the companies it invests in are based outside major Spanish urban centers and have already proven successful in their local markets. The fund assists these SMEs in overcoming organizational challenges involved in scaling from small teams of 20-40 employees to professionalized organizations exceeding 150 staff members. This includes governance improvements, international sales and marketing efforts, and strategic acquisitions overseas, positioning these firms as global leaders in their sectors.

5. The Role of Oliver Wyman as a Strategic Advisor

Nzyme benefits from a unique strategic partnership with Oliver Wyman, a globally renowned management consultancy. This alliance provides Nzyme with advanced market analyses, sector expertise, and access to an international network of professionals. Oliver Wyman collaborates on deal sourcing, due diligence, and ongoing portfolio support, bringing deep operational insights and transformation experience. This partnership equips Nzyme with a competitive edge in identifying promising investments and shaping value creation strategies that combine both consolidation and technology adoption.

6. Value Creation Through Inorganic Growth

Beyond organic growth initiatives, Nzyme actively pursues a buy-and-build strategy to create market-leading platforms. It focuses on acquiring complementary companies to consolidate fragmented industries, which often have many small players lacking scale. These acquisitions enable portfolio companies to expand services, geographical reach, and customer bases rapidly. By integrating these firms efficiently, Nzyme strengthens competitive positions, drives synergies, and increases overall enterprise value.

7. Supporting Organizational Professionalization and Succession

Nzyme’s involvement goes beyond capital injection; it provides management support to professionalize SMEs and facilitate institutionalization. This includes guiding companies through generational leadership transitions, improving governance frameworks, restructuring operational processes, and implementing scalable systems. By enhancing organizational efficiency, Nzyme helps companies sustain long-term growth and attract further investment, essential for success in competitive global markets.

8. Early Investment Successes

The fund has already registered notable successes, including significant investments in healthcare distribution through Kuma Group and in professional services firms. An example is Nzyme's acquisition and transformation of Dental Ibérica, a dental material distributor focused on Spain’s northwest, with ambitions to grow in Portugal and France. Within less than two years, Nzyme successfully exited Kuma’s dental division, demonstrating its ability to create and realize value through active management and strategic growth initiatives.

9. Capital and Investor Support

Nzyme’s €160 million fund has attracted a diverse and prestigious investor base. This includes the Spanish government's CDTI (through the SICC Innvierte program), well-known Spanish business families, successful entrepreneurs, banks, and international family offices with Spanish investment interests. The fund has garnered strong investor confidence despite challenging market conditions, reflecting belief in its team’s capabilities and the growth potential of Spanish SMEs. It targets the creation of 8 to 10 strong sector platforms with investments averaging €15-20 million each.

10. Commitment to Sustainability and Long-Term Impact

Besides financial returns, Nzyme is deeply committed to generating sustainable and responsible value. It identifies areas within portfolio companies to implement Environmental, Social, and Governance (ESG) criteria, thus enhancing long-term business resilience and positive societal impact. By focusing on sustainability, the fund aligns with global trends and investor expectations, helping SMEs embed responsible practices while driving technological innovation and competitiveness.

Conclusion

Nzyme represents a pioneering private equity fund focused on transforming Spain’s traditional SMEs through technology-driven growth, consolidation, and professionalization. Backed by Kibo Ventures and advised by Oliver Wyman, it blends deep sector knowledge with advanced analytics and operational expertise to unlock hidden value in fragmented industries. Its strategic investments aim not only to scale companies internationally but also to foster sustainable business models. As Nzyme continues to build market leaders across diverse sectors, it exemplifies how purposeful investment can catalyze economic development and shape the future of Spain’s entrepreneurial landscape. Could Nzyme’s model become a blueprint for SME transformation elsewhere in Europe?