Earlier this month, Spanish early-stage venture capital firm K Fund officially launched its second fund, which sits at 70 million, up from 50 million the first time around.

Targeting Spanish startups with an international outlook, the seed-stage firm plans to invest from 200,000 to 2 million, writing first checks in 25-30 companies. Meanwhile, a portion of the fund will also be set aside for follow-on funding for the most promising of its portfolio.

Described as business model- and sector-agnostic, K Fund currently has a mix of B2B and B2C companies in its portfolio across a wide variety of sectors, such as travel, fintech, insurtech and others. They include online travel agency Exoticca, HR software Factorial, insurtech startup Bdeo and Hubtype, a conversational messaging tech provider.

I caught up with K Fund’s Jaime Novoa to delve deeper into the firm’s investment remit, how the Spanish startup and tech ecosystem has developed over the last few years and to learn more about “K Founders,” the VC’s new pre-seed funding program.

TechCrunch: K Fund’s first fund was announced in late 2016 to back startups in Spain with an international outlook at seed and Series A. At 70 million, this second fund is 20 million larger but I gather the remit remains broadly the same. Can you be more specific with regards to cheque size, geography, sector and the types of startups you look for?

Jaime Novoa: We’re both agnostic in terms of business models and industries. Since our focus is, for the most part, Spain, we do not believe that the Spanish market is big enough to build a vertically focused fund, either in terms of business model or sector.

With our first fund we invested in 28 companies, with a slightly larger number of B2B SaaS companies than B2C ones, and across a wide variety of sectors. We do have a bit of exposure to travel and fintech/insurtech, but that’s because we’ve found several interesting companies in those spaces, not because we proactively said, “let’s invest in fintech/travel.”

In terms of check sizes, the core of the fund will be to make the same type of investments as in our first fund: first cheques from 200k to 2m and then sufficient capital for follow-on rounds. We’ll probably do a similar number of deals compared to the previous fund, but we want to have additional capital for follow-on purposes.