AXIS, the ICO Group's private capital company, selects the funds for the ninth Fond-ICO Global investment round
In this round, eight funds have been selected, in which Fond-ICO Global will invest almost €160 million. The chosen funds will invest a minimum of €817 million in Spain.
Axis, the ICO Group's private capital company, has selected eight funds as part of the ninth investment round of FOND-ICO Global, in which it will invest almost €160 million.
Of the total amount approved for investment, €100 million will be allocated to the two capital expansion funds selected, €44.8 million to the three venture capital funds and €14.1 million will be invested in the three chosen incubator/technology transfer funds.
The selected candidates are:
In the Capital Expansion category:
- BC PARTNERS MANAGEMENT LUX SARL
- BTC INVESTMENTS 2012 SARL
In the Venture Capital category:
- ALMA MUNDI VENTURES SGEIC SA
- ALTAMAR PRIVATE EQUITY SGIIC SAU
- SWANLAAB VENTURE
In the Incubator/Technology Transfer category:
- CLAVE MAYOR SGEIC SA
- FIRST WEBIP SL
- TORSA CAPITAL SGEIC SA
Given the multiplier effect generated by this instrument, the funds invested in following this call for proposals will, in turn, invest a minimum of €817 million in Spain, which equates to 5.1 times the €160 million committed by FOND-ICO Global.
20 funds applied for this round of investment, most of them in the venture capital and incubator categories, which invest in companies in the early stages of development. 25% of the funds that took part are international, which demonstrates the importance of this instrument in attracting foreign capital to Spain.
Having announced the results of this round, ICO Group's chairman, Pablo Zalba, emphasised the role of Fond-ICO Global as a "key element in promoting the private capital sector in Spain and helping to diversify the sources of company financing, something which is of growing importance in the current economic environment". Since it was set up in 2013, investments amounting to €1.424 billion in 64 funds have been approved. This amount, as Mr Zalba noted, represents an `investment of almost €6 billion in Spanish companies". He also pointed out that `the funds in which Fond-ICO Global has invested have in turn invested approximately €1.5 billion in more than 300 Spanish companies, which employ more than 97,000 workers".