M
Must
Madrid-based independent infrastructure fund manager, founded in 2021, with €250M AUM, focusing on mid-market equity investments in energy transition, digital, transport, social infrastructure, and utilities, primarily in Europe.
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Investment FundInvestorAsset Manager
Strategic Overview
- Focuses on mid-market infrastructure assets, typically with equity tickets between €50M and €200M.
- Primarily targets brownfield and operating assets with stable cash flows.
- Seeks to invest in sectors benefiting from long-term trends such as energy transition and digitalization.
- Currently deploying capital from its inaugural fund, Must Infrastructure Fund I.
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Subscribe from €20/mo →Deal History (1)
Investment Focus
Technologies
Storage1
Geography
Brazil1
Key People
Juan Angoitia
CEO & Founding Partner
Borja Acha
CIO & Founding Partner
Antonio de la Vega
CFO & Founding Partner
Track Record
3
Deals Completed
3
Years Active
Notable projects: Opdenergy operating assets, Global Omnium (Grupo Gimeno's water business), Grupo Ortiz concession assets
Detailed Analysis
Sectors
Technologies
Geographies
Deal Stage
Portfolio Companies
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