ICO launches the eighth funding round of Fond-ICO Global with an investment of €190 million
ICO, through AXIS, its venture capital management company, today launched the eighth funding round for FOND-ICO Global with an investment commitment of €190 million. Eight funds operated by private management companies will be selected in this new round.
Of the funds committed, €100 million will be used to invest in two capital expansion funds, €60 million in three venture capital funds and €30 million in three incubation/technology transfer funds.
Management firms have until 24 February 2017 to submit their documentation. The terms and conditions of the programme can be found on the Axis website.
Keeping a constant rhythm of tenders, this is the second round launched for Fond-ICO Global this year, aiming to address the needs of the capital investment market.
Fond-ICO Global was launched in 2013 and since its creation, it has approved investments in a total of 48 new private funds for a sum of more than €1.1 billion. This represents an injection of €4.4 billion in Spanish companies.
The funds that Fond-ICO Global has invested in have in turn invested up to €1 billion in more than 200 Spanish companies that provide employment for over 50,000 workers.
Interest amongst foreign investors in participating in Fond-ICO Global is significant, given that 30% of the funds selected from the first seven rounds are international.
These figures are a testament to the success of the initiative, which in a short space of time has transformed and revitalised the landscape of Spanish private capital.