An epitaxial substrate for electronic devices is provided, which can improve vertical breakdown voltage and provides a method of producing the same. The epitaxial substrate includes a conductive SiC single crystal substrate, a buffer as an insulating layer on the SiC single crystal substrate, and a main laminate formed by epitaxially growing a plurality of Group III nitride layers on the buffer. Further, the buffer includes at least an initial growth layer in contact with the SiC single crystal substrate and a superlattice laminate having a superlattice multi-layer structure on the initial growth layer. The initial growth layer is made of a Ba1Alb1Gac1Ind1N material. Furthermore, the superlattice laminate is configured by alternately stacking a first layer made of a Ba2Alb2Gac2Ind2N material and a second layer made of a Ba3Alb3Gac3Ind3N material having a different band gap from the first layer.