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.