AXIS, ICO Group's private capital company, selects the funds for the tenth Fond-ICO Global investment round
Fond-ICO Global will invest close to 120 million euros in the seven funds selected in this round and, in turn, the funds chosen will invest a minimum of 490 million euros in Spain.
In this tenth call of Fond-ICO Global, 29 funds have been submitted, the most to date.
More than 50% of the submitted funds are international, which demonstrates the interest in investing foreign capital in Spain.
Axis, ICO Group's private capital/venture capital company, has selected seven funds as part of the tenth investment round of Fond-ICO Global, in which it will invest almost 120 million euros.
Given the multiplier effect generated by this instrument, the investment commitment of the funds selected in this round entails the injection of 490 million euros into Spanish companies (4.1 times the amount committed by Fond-ICO Global). This investment will impact on these companies' productivity, affording greater economic growth and job creation.
Of the total amount approved for investment, 57.5 million will be allocated to the two "Capital Expansion" funds selected, 15.2 million to the two "Venture Capital" funds, 27 million will be invested in two technology transfer funds and 20 million in the "debt" fund.
The main development of this call involves the launch of a new technology transfer fund category within Fond-ICO Global. This initiative seeks to finance companies (spin-offs) that are set up to be dedicated to specific technologies developed fundamentally at research centres and universities.
The selected candidates are:
In the Capital Expansion category:
- CORPFIN CAPITAL ASESORES, S.A. SGEIC - Corpfin Capital Fund V
- TIIC MANAGEMENT SARL - TIIC 2 SCA SICAR
In the Venture Capital category:
- NAUTA CAPITAL VC PARTNERS, S.G.E.I.C., S.A. ¿ Nauta Capital Sidecar Fund
- INVEREADY ASSET MANAGEMENT SGEIC, S.A. ¿ Inveready Biotech III SCR
In the Debt category:
- OQUENDO CAPITAL SGEIC ¿ Oquendo Senior debt SICAV-RAIF
In the Technology Transfer category:
- HEALTH EQUITY SCR, S.A. - Healthequity II FCR
- UNINVEST, SGEIC, S.A.- Uninvest Technology Transfer III, FCR
Twenty-nine funds were submitted in this round, the highest number of candidates to date. More than 50% 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, the first public private-capital Fund of Funds created in Spain, has approved investments amounting to 1.543 billion euros in 71 funds. This volume will involve an investment of more than 6 billion euros in Spanish companies. In addition, the funds in which Fond-ICO Global has invested, have already invested more than 2 billion euros in more than 379 Spanish companies, providing employment to over 100,000 workers.
Given the good results obtained by Fond-ICO Global, AXIS recently approved a 500 million euro expansion of the Fund, from 1.5 billion euros to 2 billion euros.
In addition to Fond-ICO Global, AXIS also manages two other funds: Fond-ICO Infraestructuras, which finances long-term infrastructure projects and facilitates the internationalisation process of Spanish companies; and, Fond-ICO Pyme, which finances the expansion plans and technological development of SMEs.