BBVA Ventures is the corporate venture arm of BBVA Group that invests in early and expansion stage opportunities in the financial services sector. The firm looks to co-invest in syndicates with traditional VCS. BBVA Ventures does not limit their geographic scope, yet focuses more on core markets where BBVA has a leading franchise. BBVA completed its first investment in Silicon Valley in early 2012 with an investment in the seed-capital fund and incubator 500 Startups Fund. The firm's first fund is capped at $100 million.