
Itziar Estevez
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- Full Name
- Itziar Estevez Latasa
- Title
- Partner – Growth
- Firm
- IRIS (Iris Capital)
- Firm Type
- Venture & growth capital fund (institutional VC)
- Investment Stage
- Late-stage / growth capital (note: the supplied stub listed "Seed Round," but every source confirms she leads late-stage and growth investments, not seed)
- Sector Focus
- B2B software, supply-chain & logistics, deeptech, Industry 4.0, cybersecurity, enterprise applications
- Geographic Focus
- DACH region and broader Europe
- Location
- Munich, Germany
Background
Itziar Estevez Latasa is a Partner on the Growth team at IRIS (Iris Capital), a pan-European venture and growth capital firm with offices in Paris, Berlin, and Munich. She joined the firm in 2019, where she focuses on late-stage and growth-capital investments in the DACH region and across Europe. Her sector expertise spans B2B software, supply-chain and logistics, deeptech, and Industry 4.0.
She holds a Mechanical Engineering degree from the University of Navarra in Spain and an MBA from London Business School (the london.edu alumni email in the stub is consistent with this). She began her career at BMW, working with operational teams in the Munich production plant to design, implement, and optimize production lines. She then joined The Boston Consulting Group in its London and Munich offices, specializing in private equity due diligence and energy projects.
Estevez spent roughly a decade as a venture capital investor at Siemens Venture Capital and its successor, Next47, before moving to IRIS. Across her career she has accumulated 15 years in the venture capital sector, blending deep technical/engineering grounding with business and investment expertise — a combination she has described as what drew her to VC in the first place.
In 2023 she was named "Best Female Investor" at the KfW Capital Awards, one of the most prominent recognitions for venture investors in the German market.
Investment Thesis & Focus
- Invests at late-stage and growth stages, backing established technology enterprises through their scaling phases (not an early-seed investor despite the stub label).
- Sector focus: B2B / enterprise software, supply-chain and logistics, deeptech, Industry 4.0, cybersecurity, and enterprise applications.
- Geographic focus: DACH (Germany, Austria, Switzerland) and broader Europe.
- Prioritizes strong technology and talented founder/management teams, supporting companies through their growth phases.
- In her own words, she was drawn to VC because "venture capital was the perfect combination of these two worlds" (technical expertise and business), and cites "creating value and the versatility of the work" as what keeps her engaged.
- Emphasizes forming a "differentiated and independent view" and the importance of thinking independently when making investment decisions.
Notable Investments
- Forto — Digital freight forwarding / supply-chain logistics platform (current IRIS portfolio).
- Open-Xchange — Open-source email and collaboration software (current IRIS portfolio).
- Rebuy — Recommerce / re-sale platform for used electronics and media (current IRIS portfolio).
- Red Points — Brand-protection and anti-counterfeiting software (current IRIS portfolio).
- LeanIX — Enterprise architecture SaaS; acquired by SAP (cited as a notable exit).
- Polarion — Application lifecycle management software; acquired by Siemens.
- Black Duck — Open-source software security & license compliance; acquired by Synopsys.
- Thinkstep — Sustainability/ESG software; acquired by Sphera (Genstar Capital).
- LogRhythm — Security information and event management (SIEM); acquired by Thoma Bravo.
- Braincube — Industrial IoT / manufacturing analytics platform.
- Wurldtech — Industrial cybersecurity; acquired by GE.
- Encelium — Lighting energy-management systems; acquired by OSRAM.
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