History

In the venture capital industry since 1986

Since its creation in 1986, Axis has invested in the growth of more than 280 companies and funds across the globe belonging to all sectors, of a total amount of more than 3.5 billion euros

It began its activity managing a fund endowed by the Social Economic Agreement, whose purpose was to promote the business network and job creation: Special Venture Capital Fund.

  • 1986: Axis was created in 1986, at the initiative of Official Banks, in order to promote venture capital in Spain. Axis is registered as management company number one in the CNMV.
  • 1993: Following the privatisation of the state-owned banking system, Axis became part of Instituto de Crédito Oficial (ICO), an entity that has owned the majority of Axis since 1993 and that has owned 100% of its shares since 2002. Fond-ICO was established, with an equity of 60 million euros. This fund changed its name to Fond-ICO Pyme in 2012.
  • 2009: At the end of 2009, Axis was instructed to manage a new investment capital fund to finance infrastructure and energy (Fond-ICO Infraestructuras) and the equity of Fond-ICO Pyme was increased to 250 million.
  • 2013: In March 2013, ICO launched Fond-ICO Global, the first public "Fund of Funds" created in Spain. It was initially endowed with €1,200 million, managed by Axis. The aim was to promote the creation of privately managed venture capital funds that invest in Spanish companies at all stages of development. In November 2015, Fond-ICO Global's endowment was increased to €1,500 million, and in May 2018 it increased again to €2,000 million.

Fond-ICO Global is currently endowed with €4,500 million, after the recent expansion in July 2020 of €2,500 million for the next 5 years. 


AXIS is part of the ICO Group, also made up of ICO and the Fundación ICO.

AXIS's support to the entrepreneurial ecosystem is provided in public-private collaboration with the main association in the sector, ASCRI (Spanish Association of Capital, Growth and Investment), the European Investment Fund and the venture capital managers whose funds have been approved to receive ICO financing.