ICO goes on the road to educate investors about FOND-ICO Global
The roadshow will bring the chairman of ICO and the managing director of AXIS into contact with some of the world's leading international investors
In the months to come the institute plans to take its roadshow to several major financial cities
The chairman of ICO, Román Escolano, and the managing director of Axis (ICO's private equity arm) Guillermo Jiménez, together with some members of his team, are in London today for a series of roadshow meetings, extending the international tour embarked on last year to raise the Fund's profile within the investment community.
FOND-ICO Global, the fund-of-funds managed by AXIS, ICO's private equity arm, is undertaking a series of scheduled roadshow meetings in order to present its credentials and attract international investors and asset managers.
The chairman of ICO and several Axis investment team members will meet today in London with different private equity managers which are currently in the process of fundraising and, in many cases, have an investment focus on Spain.
In the months to come, ICO and Axis plan to take their roadshow to several major international financial cities around the world.
The deadline of the second call for the selection of four venture capital funds and four growth capital private equity funds was March 21st. As implemented during the first call, these eight funds will be selected following publicity, competition, equality and transparency criteria.
A total of 24 bidders participated in this second tender, with growth capital fund managers significantly outnumbering (15) their venture capital counterparts (9).
FOND-ICO Global's impact abroad in recent months is tangible given the fact that 46% of the proposals received for this second call were presented by international fund managers.
The €685 million raised by FOND-ICO Global during the first call, on September 25th, 2013, was substantially higher than the €394 million raised by all other Spanish private equity firms in all of 2013.
FOND-ICO Global's third call is scheduled for July 11th, 2014, with a fourth tender scheduled for later this year.
About FOND-ICO Global:
FOND-ICO Global is the first public-capital private equity fund-of-funds created in Spain. It is endowed with €1.2 billion. Its aim is to foster the creation of private equity funds that invest in Spanish companies at all stages of development. The fund-of-funds is managed by AXIS, ICO's 100%-owned private equity firm. The idea is to invigorate the private equity market and catalyse private equity investing activity.
The goal is to attract private Spanish and international investors with the ability to mobilise around €5 billion of funds. Management estimates that during its lifetime the Fund will help to create over 40 new private equity funds, in their assorted legal manifestations, which will invest in companies at various stages of development.
Axis is a private equity company 100%-owned by ICO. Its track record in the private equity market dates back over 25 years, during which time it has invested over €350 million in more than 150 companies.