/Investor DB

SODENA

Government fund

Pamplona · Seed–Series B · 41 people tracked

Find your way into SODENA

Sign up to see every warm intro you have to SODENA

  • Paths you didn't know you had: your email and LinkedIn already hold routes to the SODENA team. We find them for you
  • 2nd- and 3rd-degree connections: the friend-of-a-friend routes that take hours to manually find through your inbox or LinkedIn
  • Answers now, not in days: momentum is everything in a raise. Skip asking around whether someone knows someone

Days of research, done the moment you sign in, with every route ranked by how warm it is.

✨ Fox Verdict
Sign up to see your fit

Investment thesis

Sodena serves as the regional government's financial vehicle for attracting and developing business projects that add value to Navarra, both locally sourced and drawn from abroad. It provides venture capital and other financial support across entrepreneurship, consolidation and growth stages, promotes business collaboration for competitiveness, and coordinates the design and implementation of Navarra's Smart Specialisation Strategy (S4). The organization integrates ESG factors throughout its investment process under a Responsible Investment Policy and a Sustainability Strategy aligned with six priority Sustainable Development Goals, aiming to become a European benchmark for regional business competitiveness.

Source: firm website, verified Oct 26, 2026.

Stage
Seed–Series B
Check
$108K
HQ
Pamplona, ES
Instruments
Equity
Founded
2011

Team · 41 people

from the firm's website & curated & public directories
Iñaki Larraya Garayalde· Managing Directorin

Joined Sodena as Managing Director in January 2024, bringing over 33 years in the financial sector at Banco Guipuzcoano (now Banco Sabadell), where he held branch management, real estate and regional commercial roles. He holds a business studies degree from the University of Pamplona and the EFPA European Investment Practitioner certification.

María Victoria Iriarte Izcue· Director of Investments, Entrepreneurship

Joined Sodena's management team in 2006 as a project officer and was appointed Director of Investments in 2018, leading the entrepreneurship area. She previously worked at KPMG Auditors and holds a business administration degree and an IESE PDD.

Jose M. Montes Ros· Investment Managerin

Jose M. Montes Ros is Director de Inversiones and Director de División at SODENA, a public venture capital company. He began his career in administration and finance before moving into the interdisciplinary management of teams and organizations.

Mª Victoria Iriarte Izcue· Investment Managerin

Mª Victoria Iriarte Izcue is Directora de Inversiones at SODENA, working in the venture capital sector. Her experience includes leading decision-making in new investment operations, fundraising for portfolio companies, the creation of investment funds and companies, and divestment operations. She has specialized in sectors including agrifood and biotechnology, and has served on companies' boards of directors, supporting management teams and business strategy.

María Eugenia Lecumberri Alli· Director of Investments, Consolidation and Growthin

Director of Investments for consolidation and growth at Sodena since 2006, having joined in 2001. A certified public auditor (ROAC), she previously worked as Audit Manager at KPMG Navarra.

Soffía Theódóra Tryggvadóttir· Directora de inversiones area semilla start up
Ainhoa Echarte Górriz· Project Managementin

Part of Sodena's team since December 2015 in the Territorial Specialization area of Regional Strategy. She previously worked in tourism and business administration roles and at CEIN and Fundación Moderna.

Ainhoa Patiño Etxeondo· Executive Assistant

Joined Sodena's administration area in August 2007. She began her career at Arthur Andersen's Pamplona office and later worked at Frenelsa, Nissan Forklift España and in the office of the Regional Minister of Industry of Navarra.

Amaya Manrique Pérez· Project Manager

Joined Sodena in October 2012 with over 20 years of experience in foreign direct investment. She previously directed strategy at PROMOMADRID, served as an FDI expert for the World Bank, and consulted at Deloitte and IBM-Plant Location International in Brussels.

Ana Goyen· Board Member

Director of the Wind Converters and Controls Business Unit of the Ingeteam Group and a member of Sodena's board.

Beatriz Blasco Felipe· Project Technicianin

Prior to Sodena she worked at Unión de Créditos Inmobiliarios and spent over a decade at CEIN, where she directed the Innovation and Technology Department and later advised entrepreneurs on business creation.

Bernardo Ciriza· Board Member

Former Minister of Territorial Cohesion of the Government of Navarra (2019-2023) and a member of Sodena's board.

Carlos Sarobe Carricas· Project Manager

Joined Sodena's Investments Area in mid-2006 as Project Manager. A certified public auditor (ROAC), he spent his early career at KPMG Auditors and later served as Financial Director at the Linser Logistics Group.

Cristina Pascual Morrás· Project Technicianin

Joined Sodena in late 2009. An industrial engineer specializing in industrial organization, she previously worked at Iturralde y Sagüés Ingenieros and taught at the University of Navarra School of Architecture.

Daniel Mazo Sáez· Project Technician

Part of Sodena's team since December 2015 in the Regional Strategy area. An industrial engineer, he previously worked at CEMITEC, Zabala Innovation Consulting, the UPNA technology transfer office, CEIN and Fundación Moderna.

Eduardo Urrestarazu· Board Member

President of the EAA-LATAM Division of Agrisolutions and a member of Sodena's board.

Guillermo Alonso Orbea· Director of 'Invest in Navarra'

Joined Sodena in September 2022 to lead Invest in Navarra, the foreign investment attraction department. An industrial engineer with an MBA, he spent much of his career at the multinational GKN group in senior general management and operations roles across Spain, France, the UK and the US.

Iker Linzoain Ramos· Project Manager

Joined Sodena in June 2018 within the Venture Capital – Value Creation area. He previously held finance and administration roles across several sectors and entered venture capital in 2009 with Clave Mayor.

Iker Zaratiegui Saralegui· Project Technician

Joined Sodena in September 2022 in the Invest in Navarra foreign investment attraction area. He holds degrees in business administration and marketing and previously worked at FAMASE and ICN-ARTEA.

Iñaki Amatriain Lecumberri· Administration, Finance and Project Management

Joined Sodena's Administration and Finance department in late 2018. He previously worked in administration and finance at Grupo Indusal and as a team leader at S2G (Deloitte).

Íñigo Arruti· Board Member

Director General for Business Development of the Government of Navarra and a member of Sodena's board.

Íñigo Donézar Apesteguía· Project Technician

Joined Sodena in September 2023 as a project officer in the Seed/Start-Up area. He holds a business/economics double degree and a finance master's and previously worked at Abante Asesores and NFQ Advisory Services in Madrid.

Jorge Aleixandre· Non-Director Secretary

Serves as Non-Director Secretary to Sodena's board of directors.

Jorge Ruiz· Board Member

CEO of Mekatar Group and a member of Sodena's board.

José Manuel Arlabán· Board Member

Former Minister of Economy and Finance of the Government of Navarra (1984-1987) and a member of Sodena's board.

Juan Cristobal García· Director of Regional Strategyin

Joined Sodena in December 2024 to head the Regional Strategy area. An industrial engineer and IESE PdG graduate, he previously served as General Manager at TESICNOR and held roles at ZABALA and as a European proposal evaluator and adjunct professor.

Katy Labiano Elizalde· Project Technicianin

Part of Sodena since May 2012. She previously worked at SAFEI, was a partner at Meridiano Zero Marketing, and served as a project officer at CEIN's entrepreneurship department.

Legarda Campos Bernal· Project Technicianin

Joined Sodena in May 2024 as a project officer in the Regional Strategy area. She holds an economics degree and a master's in sustainable development and previously worked at ECOEMBES, Nordex Energy Spain and Zimmer Biomet.

Leire Goñi Ecay· Project Technicianin

Part of Sodena's project officer team since January 2018. She previously worked at Turespaña in Chicago, Management Solutions and TETRACE.

Maite Leizagoyen Jericó· Project Manager

Joined Sodena in March 2025 in the Administration and Finance area. A graduate in advertising and public relations, she previously worked in communication and administration roles across media, the AN group and real estate companies.

María García Arellano· Project Manager

Joined Sodena in mid-2004. She holds a business administration degree and a master's in information technologies and began her career interning at the Chamber of Accounts and VW-Navarra.

María Pedrosa Sanz· Project Technician

Joined Sodena in August 2024. An agricultural engineer specializing in European R&D&I project management, she previously worked at Naitec, Iniciativas Innovadoras, Bantec Consultores, Calinsa and Riegos de Navarra.

Marian Erro Martínez· Project Technician

Joined Sodena in June 2012. She previously worked at M+W ZANDER Spain and at CEIN as a project officer in entrepreneur motivation and advisory services.

Miguel Ugalde· Board Member

Managing Director of Tafalla Iron Foundry and a member of Sodena's board.

Mikel Irujo· Chairman

Regional Minister of Industry and Ecological and Digital Business Transition of the Government of Navarra; serves as Chairman of Sodena's board of directors.

Montse Esparza Abaurrea· Project Technician

Joined Sodena in December 2011 following a public-sector merger. A law graduate with a master's in financial management, she previously served as Head of Administration at NAFINCO.

Montse Guerrero Pérez· Deputy Director of Sustainability and Circular Economyin

Joined Sodena in February 2024 as Deputy Director of Sustainability and Circular Economy. An agricultural engineer with an MBA in Innovation, Business and Circular Economy, she has extensive experience in eco-innovation and sustainability across the public and private sectors and has advised the European Commission and the Enterprise Europe Network.

Óscar Arriaga Lasterra· Director of Administration and Financein

Joined Sodena's management team in March 2008 as Director of Administration and Finance. A certified public auditor (ROAC) and IESE PDG graduate, he began his career at KPMG Auditors in 1997.

Patricia Sanz Planas· Project Technicianin

Brings over 15 years of management experience. A chemical engineer, she held technical director roles at ICISA and SGS and served as Head of Energy Efficiency and Sustainability at Viscofan, leading decarbonisation and renewable energy projects.

Sandra Cavero· Board Member

Professor of Business Organization and Director of the Chair of Social Economy and Cooperativism at the Public University of Navarra; board member of Sodena.

Unai Irigoien San Miguel· Project Technician

Joined Sodena in 2020 as a project officer in investment attraction. He previously worked at Volkswagen Navarra and at the Spanish Economic and Commercial Office in Denmark after an ICEX-CECO MBA.

Frequently asked questions

What stage does SODENA invest at?
SODENA invests at the Seed, Series A, Series B stages.
What is SODENA's typical check size?
SODENA typically writes checks of $108K.
What sectors does SODENA focus on?
SODENA focuses on AgTech, Biotech, Circular Economy, Cleantech, Consumer, Data & Infrastructure, Energy, Enterprise Software, FoodTech, Impact & Social Good, Medical Devices, SaaS, Sector Agnostic.
Where is SODENA located?
SODENA is headquartered in Pamplona, ES.

Images

SODENA photoSODENA photoSODENA photo

Similar investors

Featured in lists