Spain’s Leading Fractional Operating Partner · Tellus Team

We make
companies
fly.

Vanesa Saiz Marugan — Spain’s leading fractional Operating Partner. She doesn’t run companies for you — she gets the best out of them. The best out of the people inside them. Like a football coach: she reads the field, puts everyone in their right position, and builds a team that wins without her on the pitch. Then she built Tellus Team — operators who play the same way.

Work With Vanesa See the Method →

Days to real results

3×

Avg. runway extension

12+

Companies transformed

€0

Spent on theory

From I to We

Built from
the inside.
The hard way.

Tellus Team didn’t start as a firm. It started as Vanesa Saiz Marugan getting called into companies that were in trouble — and fixing them. Fintech scaling out of control. MedTech with the wrong P&L. SaaS bleeding cash with no idea where. She went in, diagnosed, decided, executed. And left the machine running.

Think of her as a football coach. She doesn’t play instead of you — she reads the field better than anyone, sees what others miss, and puts every person in the position where they’re most dangerous. She builds systems that win. And when the team is ready, she steps off the pitch. After enough hard engagements to know exactly what a real operating pattern looks like, Vanesa built the method. Then she built the team. Each Tellus operator is personally selected by Vanesa — same standard, same playbook, same accountability. No juniors. No consultants. People who have been inside the fire and came out with results.

The result: a boutique that can do what Vanesa does, at the scale the market needs — without ever diluting what made it work in the first place.

100%

Operators with live track records. Zero theorists.

Person sets the standard: Vanesa Saiz Marugan.

Few.

We work with very few companies at a time. On purpose.

90d

To see real results. Not after the deck. From day one.

What Tellus Team Does

Not consultants.
Operators.

Vanesa Saiz Marugan and her team go inside. See the real numbers. Make the decisions management can’t make alone.

01 /

Restructuring & Turnaround

Cash is bleeding and nobody can see where. We strip the P&L by business line, find what destroys value, and make the decisions that need to be made — at speed, with full accountability for outcomes.

02 /

Scaling & Operational Excellence

Growing fast but margins compressing, org cracking, CAC out of control. We build the operating system that makes growth sustainable — not just fast. Unit economics corrected at source.

03 /

VC & PE Portfolio Support

Your portfolio company needs more than a board seat. Tellus Team acts as your embedded operator — full accountability, weekly cadence, skin in the game. Your investment performs.

04 /

Strategic Finance & Unit Economics

EBITDA that hides the truth. Revenue that looks healthy until you segment it. We model the real picture by cohort, product, and customer — IFRS 15, cap table, the lot.

The Tellus Method

Vanesa’s
method.
Proven.

“I’m not here to play instead of you. I’m here to make you unbeatable. The raw data tells me where. The team tells me how.”
— Vanesa Saiz Marugan

Developed and tested across more than a dozen companies in Spain and Europe. Two tracks in parallel from day one: financial forensics and structured team interviews. Every Tellus operator uses the same framework — because it works.

Phase 01Days 1–30

Diagnosis Without Anaesthesia

P&L by business line, product, customer
Real cash vs bookings
Structured interviews — every function
Cost structure line by line
Hidden liabilities surfaced
The 5–7 decisions that matter

Phase 02Days 31–60

Decisions & Execution

Structural changes implemented
Minimum viable org deployed
Unit economics corrected at source
Capital & runway modelled
Board reporting rebuilt
Quick wins executed

Phase 03Days 61–90

Build the Machine

Operating cadence locked
Quarterly OKR structure live
Growth levers identified & tested
Leadership accountability clear
Strategic north star defined
Team executing independently

▹ After Phase 03: quarterly execution plans. Minimum continuation 6 months. Maximum 12. We enter, we change things, we build the machine — and we leave. That’s the model.

The Team

Started with one.
Grew into a standard.

Vanesa Saiz Marugan built Tellus Team the way a great coach builds a squad: starting with the system, then finding the people who can execute it. Not the ones with the best CVs — the ones with the best track records. The ones who have been in real situations, made real decisions under pressure, and got the result. Every Tellus operator has been personally selected by Vanesa. Because the standard is hers, and it doesn’t travel without the right people carrying it.

The result is a small, elite team that can cover more ground without losing what makes this work: a single standard, a single method, and someone with full accountability for every engagement. We are not a big consulting firm. We are not a marketplace of freelancers. We are Vanesa’s team — and that means something.

⚡

Senior only

Every Tellus operator has led restructurings, managed boards, or run business lines in VC or PE-backed companies. No juniors. No associates doing the work while a partner signs off.

🎯

One method

Vanesa’s playbook is not optional. Every engagement runs on the same diagnostic framework, the same financial approach, the same accountability structure. Consistency is the product.

🔒

Few clients

We deliberately limit the number of active engagements. Because quality operating partnership requires full attention. If we can’t give that, we don’t take the engagement.

Want to work with Tellus Team? There is no form to fill. No automated process. You write to Vanesa directly on LinkedIn — tell her what’s happening, what you’ve tried, and what you need. If the fit is right, she’ll respond. If it’s not, she’ll tell you why.

Results

Numbers
don’t lie.
Names do.

Full confidentiality. Real sectors, real numbers, investors you’ll recognize. Led by Vanesa Saiz Marugan or a Tellus Team operator under her direct supervision.

Fintech · Crypto & Digital Assets

−3M → +100K

EBITDA €/year — under 8 months

Global enterprise clients. Structurally broken cost model. EBITDA at −€3M/year when Vanesa entered. In under 8 months: +€100K/year positive. One year later the full transformation validated — sustainable growth, clean unit economics, international expansion underway.

Turnaround + SaaS Transformation

Backed by: Caixa Capital Risc · Inveready · Sabadell VC · Beacon Capital · CDTI Innvierte

How to Work with Vanesa & Tellus Team

Three ways in.
One standard.

All engagements are priced on consultation. No volume. No packages off the shelf. Every situation is different — and we price accordingly. Write to Vanesa on LinkedIn to start the conversation.

Tier 01

Do It With You

You execute. Vanesa is your co-pilot.

Priced on consultation

First 90-day sprint

2-day intensive diagnostic bootcamp
1 day/week Tellus presence
Full P&L discrimination
90-day execution roadmap
Weekly operating review
Board-ready reporting

Write to Vanesa

Most Requested

Tier 02

Do It Together

Co-execution. Shared accountability.

Priced on consultation

First 90-day sprint

On-site diagnostic — full team access
2–3 days/week Vanesa or senior OP
Direct execution on key decisions
Unit economics rebuilt from scratch
Capital & runway modelling
Board presence included

Write to Vanesa

Tier 03

Do It For You

Vanesa or senior OP fully embedded.

Priced on consultation

First 90-day sprint

Full diagnostic + immediate execution
4–5 days/week on-site
Interim executive role if needed
Complete operational restructure
Investor & bank relationship management
Full board accountability

Write to Vanesa

How our contracts work: First 90 days is the diagnostic and execution sprint. After that, quarterly execution plans for companies that want to continue. Minimum: 6 months. Maximum: 12 months. We enter, we change things, we build the machine — and we leave. Companies that depend on an operating partner forever are companies the operating partner failed.

In the Room Where It Happens

Speaker. Operator.
On the record.

Vanesa Saiz Marugan is a recurring voice at Spain’s most important startup and investment events — not as a keynote guest, but as a practitioner with live results on the table.

Vanesa Saiz Marugan speaking at 4YFN Mobile World Congress Barcelona 2026 with Inveready

4YFN · Mobile World Congress 2026 · Barcelona

“Funding Deep Tech: Lessons from Both Sides of the Term Sheet”

Vanesa Saiz Marugan shared the Banco Sabadell Stage at 4YFN — the world’s most important startup event inside Mobile World Congress — alongside Inveready’s General Partner and the COO of Amadix. The session went where most panels don’t: why capital timelines don’t match technology timelines, what real risk looks like when you’re still validating science not market, and what both founders and investors keep getting wrong in deep tech.

Stage: Banco Sabadell Stage · Hall 8.0 · 4YFN & Partner District · March 4, 2026 · 11:00 CET

MWC Barcelona 2026 · AI & Deep Tech

What Vanesa took from the AI & Deep Tech panel at MWC 2026

Published live from the floor of Mobile World Congress. Three hard-won insights: over 90% of deep tech startups die in the valley of death between research and commercialization — not because the tech doesn’t work, but because of regulation, capital, and teams who can’t convert science into business. That AI hype is noise — what separates companies is demonstrable impact. And that deep tech capital plays by different rules: 7-to-12-year cycles, not the 3-to-5-year SaaS playbook.

Published: LinkedIn · March 2026 · Mobile World Congress Barcelona

Inveready · Portfolio Company · Madrid 2025

Managing Director at Geniova Technologies — €13M round, FDA approval, 150+ countries

Vanesa leads Geniova Technologies as Managing Director — a MedTech company backed by Inveready, CDTI Innvierte, and Institut Straumann (SIX: STMN), the global leader in implantology. Geniova raised €13M in January 2025 led by Inveready. Vanesa’s operational transformation was central to making the round possible. The company holds FDA approval and is present in over 150 countries.

Round: €13M · January 2025 · Led by Inveready + CDTI Innvierte

Bit2Me · Spain’s Leading Crypto Exchange

Two M&As. Series B. Valuation above €150M.

At Spain’s most prominent crypto-native fintech — backed by Telefónica, Inveready, Investcorp, BBVA, Cecabank, Unicaja, Bankinter and Tether — Vanesa led the most complex operational transformation in the company’s history: 90 to 300 people across two M&As, then a disciplined restructuring to 110. AI product pivot. Full cap table restructure. Series B. Valuation above €150M.

Investors: Telefónica · Inveready · BBVA · Cecabank · Tether · Bankinter

Vanesa Saiz Marugan — Founding Operating Partner

Spain’s #1
Fractional
Operating
Partner.

Vanesa Saiz Marugan is the Founding Operating Partner of Tellus Team and Spain’s most recognized fractional Operating Partner for VC and PE-backed companies. She operates like a football coach: she doesn’t run the company for you — she reads the field, puts people where they perform best, and builds the team and the system that wins. Then she steps off the pitch. The machine keeps running.

Her expertise spans private equity, venture capital, SaaS transformation, M&A integration, cap table restructuring, and strategic finance. She has held board seats, reconstructed P&Ls from scratch, managed two M&A processes end-to-end, surfaced IFRS 15 obligations that were about to sink companies, and executed restructurings that others said couldn’t be done.

After building the method through the hard engagements, Vanesa built the team around it. Today Tellus Team is the vehicle through which her standard, her playbook, and her accountability model reach more companies — without ever being diluted.

Speaker at 4YFN / Mobile World Congress. Managing Director at Geniova Technologies. Based in Madrid. Active across Spain and Europe.

Operating Partner SpainFractional OP Private EquityVenture Capital SaaSIFRS 15Unit Economics Board LevelM&ACap Table

Vanesa Saiz Marugan · 4YFN / MWC Barcelona

Vanesa Saiz Marugan — Spain’s Leading Fractional Operating Partner

Vanesa Saiz Marugan is the Founding Operating Partner of Tellus Team and Spain’s most recognized fractional Operating Partner for VC and PE-backed companies. Her career is defined not by titles, but by results: companies that were bleeding cash and are now profitable, M&As that were about to break organizations and instead created value, cap tables that were blocking growth and are now clean. She has done it enough times, in enough different contexts, to have built a method — and then built a team around it.

Her track record includes leading the operational transformation at Bit2Me — Spain’s leading crypto exchange backed by Telefónica Ventures, Inveready, Investcorp, BBVA, Cecabank, Unicaja, Bankinter and Tether — through two M&A integrations, a scale from 90 to 300 people, a disciplined restructuring to 110, an AI-led product pivot, and a Series B closing at a valuation above €150M. Her work as Managing Director at Geniova Technologies (Inveready, Institut Straumann, CDTI) drove a €13M funding round in January 2025 while simultaneously rebuilding the operational and financial architecture. Her turnaround at a B2B SaaS platform backed by Caixa Capital Risc and Inveready took the business from −€3M to +€100K EBITDA per year in under eight months.

Tellus Team is the boutique Vanesa Saiz Marugan built after proving the method. A small, senior team of operators — personally selected by Vanesa, trained on her playbook, held to her standard. Not a consulting firm. Not a marketplace. A team. The best fractional operating partners in Spain, working under a single methodology that has been tested in the market’s hardest situations.

Vanesa Saiz Marugan is also a speaker at 4YFN / Mobile World Congress Barcelona, where she participated in the Inveready-backed session on Deep Tech funding in March 2026. She writes regularly on LinkedIn about operating strategy, organizational change, unit economics, and what it really means to build companies that work — content that is read by VCs, PE funds, and operators across Spain and Europe.

If you are a VC fund, PE firm, or founder looking for Spain’s best fractional operating partner, Vanesa Saiz Marugan and Tellus Team are the reference.

We make
companies
fly.

Built from
the inside.
The hard way.

Not consultants.
Operators.

Vanesa’s
method.
Proven.

Started with one.
Grew into a standard.

Numbers
don’t lie.
Names do.

Three ways in.
One standard.

Speaker. Operator.
On the record.

Vanesa writes.
Practitioners read.

Spain’s #1
Fractional
Operating
Partner.

Vanesa Saiz Marugan — Spain’s Leading Fractional Operating Partner

Ready to
make it
fly?

We makecompaniesfly.

Built fromthe inside.The hard way.

Not consultants.Operators.

Vanesa’smethod.Proven.

Started with one.Grew into a standard.

Numbersdon’t lie.Names do.

Three ways in.One standard.

Speaker. Operator.On the record.

Vanesa writes.Practitioners read.

Spain’s #1FractionalOperatingPartner.

Vanesa Saiz Marugan — Spain’s Leading Fractional Operating Partner

Ready tomake itfly?

We make
companies
fly.

Built from
the inside.
The hard way.

Not consultants.
Operators.

Vanesa’s
method.
Proven.

Started with one.
Grew into a standard.

Numbers
don’t lie.
Names do.

Three ways in.
One standard.

Speaker. Operator.
On the record.

Vanesa writes.
Practitioners read.

Spain’s #1
Fractional
Operating
Partner.

Ready to
make it
fly?