#SC Expansion

Suma Capital completes the investment cycle of SC Expansion Fund I with the exit from GrandVoyage

Suma Capital has successfully completed the divestment of GrandVoyage, a digital platform specialising in medium- and long-distance travel. With this transaction, the firm concludes the final investment of SC Expansion Fund I, the vehicle through which it launched its SC Expansion strategy. This milestone ends a 10-year investment cycle, during which the fund executed a series of high-growth investments, including GrandVoyage, Tradeinn, Alucan, Turris and Homs Rentals. The fund’s track record has been defined by disciplined investment, sustainable value creation, and the orderly execution of exits.

Suma Capital invested in GrandVoyage in 2018 with the objective of strengthening its financial structure, professionalising the management team and accelerating technological development. Over the years, the company has evolved into a scalable digital business, expanded its international footprint and completed strategic acquisitions that have diversified its activity. At the end of 2025, GrandVoyage entered a new phase of growth with its admission to BME Scaleup, debuting with a 20% increase on its first day of trading.

The exit was structured through a combination of a private placement of Suma Capital’s stake and a capital increase aimed at strengthening the company’s financial and operational position, while facilitating the creation of a free float ahead of its market listing. This transaction highlights Suma Capital’s ability to design progressive and tailored exit solutions adapted to the specific circumstances of each business.

The experience gained through SC Expansion Fund I continues with SC Expansion Fund II, which is currently in its active management and divestment phase. The fund holds a diversified portfolio of high-growth companies with a strong commitment to decarbonisation, including notable investments such as Gunni & Trentino, Navilens and Vallfirest, which combine scalability, innovation and positive impact within their respective sectors.

Over its lifetime, SC Expansion Fund I generated a gross return of 7x invested capital (MOIC) for its investors, driven by the strong performance of its portfolio companies, whose aggregated revenues increased by 5.5 times.

Alongside financial value creation, SC Expansion Fund I promoted the progressive integration of sustainability criteria across its portfolio companies, focusing on operational efficiency, environmental impact reduction and best-in-class governance practices. This approach resulted in several national and international recognitions, including the Deal of the Year award at the Real Deals Sustainable Investment Awards for the investment in Homs Rentals, and SpainCap’s award for Best Sustainable Initiative for the investment in Alucan.

The divestment of GrandVoyage marks the completion of the investment cycle of Suma Capital’s first growth capital fund (SC Expansion Fund I), following 10 years of activity and total investments of €50 million.

The transaction was structured through a combination of a private placement, and a capital increase carried out simultaneously with GrandVoyage’s admission to BME Scaleup.

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