Axis concludes the 8th FondICO Global call for proposals

Axis concludes the 8th FondICO Global call for proposals

Axis, the ICO Group's venture capital company, has concluded the eighth call for proposals for FOND-ICO Global by selecting eight funds, in which it will invest more than 160 million euros, to be distributed as follows: 100 million euros will be allocated to two capital expansion funds, 47.5 million euros to three venture capital funds and 13.1 million euros to three incubator/technology transfer funds.
 
The selected candidates are:
 
In the Capital Expansion category:
  • MAGNUM CAPITAL MANAGEMENT SÀRL
  • PORTOBELLO CAPITAL GESTIÓN SGEIC SA
In the Venture Capital category:
  • EDMOND DE ROTHSCHILD INVESTMENT PARTNERS                     
  • SEAYA CAPITAL GESTIÓN SGEIC SA 
  • SUMA CAPITAL SGEIC SA
In the Incubator/Technology Transfer category:
  • BUSINESS BOOSTER SL
  • ENCOMENDA VENTURE PARTNERS SL
  • IUCT EMPREN SL
Given the multiplier effect generated by this instrument, the funds invested in following this call for proposals will, in turn, invest a minimum of 625 million euros in Spain, which equates to 3.9 times the 160 million euros committed by FOND-ICO Global.
 
Twenty-three funds took part in the process, the majority of which are focused on companies in their early stages, venture capital and incubation. 34% of the funds that took part are international, which demonstrates the importance of this instrument in attracting foreign capital to Spain.

Since its creation in 2013, FOND-ICO Global has approved investments totalling 1.264 billion euros in 56 funds, which supposes an investment of more than 5 billion euros in Spanish companies. The funds into which Fond-ICO Global has invested have in turn invested approximately 1 billion euros in more than 200 Spanish companies that provide employment for more than 55,000 workers.