FOND-ICO Global, the "fund-of-funds" initiative of ICO, launches the second call for tender to select another eight Venture Capital funds

FOND-ICO Global, the "fund-of-funds" initiative of ICO, launches the second call for tender to select another eight Venture Capital funds

 

Axis, the private equity branch of ICO, launches the second call for tender to select eight Private Equity and Venture Capital funds, where four will be Venture Capital funds and the other four will be Growth funds.

In 2013, the first call of the process resulted in an amount of 685 million Euros leveraged by FOND-ICO Global. That figure outnumbered the 447 million Euros leveraged by all the Spanish private equity firms in 2012.

The basis documentation for the selection of Private Equity and Venture Capital funds can be found at Axis webpage.

The third round of FOND-ICO Global tender process will be opened on July 11th, 2014.

FOND-ICO Global, the fund-of-funds initiative managed by Axis -Private Equity Management company within ICO group- launches the second call for tender to select and invest in Private Equity and Venture Capital funds. According to the investment policy of FOND-ICO Global, the tender process will be carried out in several rounds. The preferred bidders' selection will observe the public procurement principles of communication, competition, equality and transparency, as it happened in the first round.

Further to the large amount of bids received during the first round, this second call targets the selection of another eight funds, where four will be Venture Capital vehicles and the other four will be Growth funds.

The bidding management companies will be able to submit their proposals until March 21st, 2014.

It should be underlined that, the amount leveraged by FOND-ICO Global in the first call in 2013 reached 685 million Euros, which largely outnumbered the 447 million Euros leveraged by all the Spanish private equity firms in 2012, according to ASCRI data (Asociación Española de Capital Riesgo).

In the first call of the process, six private equity funds were selected. These six funds have global commitments of 685 million Euros, where 189 million Euros are provided by FOND-ICO Global.

Within the framework of FOND-ICO Global investment program for the coming four years, the third call for tender will be launched on July 11th, 2014, while the fourth call will be opened in the fourth quarter.

More information about FOND-ICO Global

FOND-ICO Global is the first Spanish public Private Equity "Fund-of-Funds" initiative. It is endowed with up to €1.2 billion and it aims at promoting the creation of venture capital funds, privately-managed, making investments in Spanish companies at any development stage. The "Fund-of-Funds" initiative is managed by AXIS, the Private Equity Management company 100% owned by ICO. This initiative is oriented to both dynamize the private equity market and be a catalyst for the creation of about 40 new private venture capital funds.

The purpose of this instrument is to attract national and foreign private investors capable of leveraging / mobilizing around 5 billion Euros. Therefore, according to initial estimates, the initiative could help creating more than 40 new private venture capital funds to be invested in companies in different growth stages.

More information about Axis

Axis is a regulated Private Equity Management company 100% owned by ICO. Axis has been an active operator of the Spanish Private Equity market for the latest 25 years. Historically, Axis has invested more than 350 million Euros in more than 150 companies.