ICO invests 750 million euros in 15 private equity funds that will channel 1,653 million euros to Spanish companies
20 December 2021
- It is the largest amount allocated since the creation of Fond-ICO Global, boosting the growth of Spanish companies at all stages and helping to consolidate the economic recovery.
- Thanks to the public-private partnership, the investment made by Fond-ICO Global will have a multiplier effect, mobilising at least 1,653 million euros in Spanish companies, 35% more than in the previous call.
- In the early-stage categories (venture capital, technology transfer and incubation), a record number of 24 fund managers participated.
AXIS, the ICO Group's venture capital company, has resolved the fourteenth call of Fond-ICO Global, announced in September, with the selection of 15 funds in which it will invest 750 million euros, the largest amount allocated to date.
This call, named Fond-ICO Consolida, multiplies the capacity to mobilise resources in public-private collaboration, aimed at consolidating the growth of Spanish companies at all stages, thereby contributing to consolidate the economic recovery. Thanks to the knock-on effect generated by the public-private collaboration scheme with which Fond-ICO Global works, having been approved the 750 million euros investment, the fifteen selected funds will mobilise a minimum of 1,653 million euros in financing for Spanish companies, which is 35% more than in the thirteenth call, which reached the previous maximum.
The 750 million euros of total investment approved for the 15 selected funds are distributed as follows: 500 million will be invested in the 5 selected "Expansion Capital" funds, 150 million in the 5 selected "Venture Capital" funds and 100 million in the 5 selected "Incubation/Technology Transfer" funds.
The early stage categories (venture capital, technology transfer and incubation) have registered a record number of 24 fund managers participating in this call, from which the 10 funds in which Fond-ICO Global will invest up to 250 million euros have been selected, a sign of the ICO Group's commitment to promote the financing of technology-based start-ups and SMEs.
The Managers whose funds have been selected are the following:
In the Expansion Capital category:
• ABAC CAPITAL MANAGER, SGEIC, S.A.
• ARTÁ CAPITAL, SGEIC, S.A.
• DIANA CAPITAL, SGEIC, S.A.
• NAZCA CAPITAL, SGEIC, S.A.
• PORTOBELLO CAPITAL GESTIÓN, SGEIC, S.A.
In the Venture Capital category:
• ALTER CAPITAL DESARROLLO, SGEIC, S.A.
• ATHOS CAPITAL, SGEIC, S.A.
• BONSAI PARTNERS, SGEIC, S.A.
• BULLNET GESTIÓN, SGEIC, S.A.
• SWANLAAB VENTURE FACTORY, SGEIC, S.A.
In the Incubation/Technology Transfer category:
• ANTAI VENTURE BUILDER, S.L.
• AXON PARTNERS GROUP INVESTMENTS, SGEIC, S.A.
• FARADAY VENTURE CAPITAL SGEIC, S.A.
• FINAVES Y APOYO STARTUPS ALUMNI, S.L.
• NARA HEALTH PARTNERS, S.L.
Innovations introduced in Fond-ICO Consolida 14th Call
Fond-ICO Consolida's 14th Call introduces several new features to enhance the capacity to mobilise resources in public-private partnerships aimed at consolidating the growth of Spanish companies at all stages while helping to consolidate recovery.
The two new main features are the increase in the amounts as well as the percentages of Fond-ICO Global's participation in the selected funds, which may reach up to 49% in all categories. In the expansion category, the funds in which Fond-ICO Global will participate must invest at least 70% of their resources in Spanish companies.
In addition, the Incubation and Technology Transfer modalities have been grouped into a single investment strategy and have been reinforced with qualitative assessment criteria based on the sustainability and digitisation used in previous calls.
AXIS: boost to complementary financing channels
Fond-ICO Global plays a leading role in the Spanish economy as a catalyst for the venture capital sector in Spain, helping to promote complementary financing channels through public-private collaboration.
In the 14 Fond-ICO Global public calls to date, 123 funds have been selected, in which up to 3,016 million euros will be invested. It is estimated that the knock-on effect created, along with private sector investments, will allow 10,545 million euros to be injected into Spanish companies and a total of 29,008 million euros in resources to be mobilised.
Axis works in public-private partnerships with the venture capital industry in all areas of activity and currently has commitments to manage up to 7.15 billion euros in its four funds: Fond-ICO Next Tech, Fond-ICO Pyme, Fond-Ico Infraestructuras ESG and Fond-ICO Global, which would allow for a combined mobilisation of over 15,000 million euros in public and private resources over the next five years, depending on the private sector's capacity to absorb resources and deliver projects.