ICO launches the tenth call of the Fond-ICO Global fund through AXIS

ICO launches the tenth call of the Fond-ICO Global fund through AXIS

  • The investment committed as part of this new call comes to 197 million euros through eight funds.
     
  • The main development of this call involves the creation of a new technology transfer fund category
ICO, through AXIS, its Private Equity management company, has launched the tenth call of the Fond-ICO Global fund, the first public Fund of Funds with private capital created in Spain. The investment committed as part of this call comes to 197 million euros through the selection of eight funds operated by private management companies.

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.

From the investment committed in the tenth funding round, 120 million euros will be allocated to invest in three Expansion Funds in the Expansion Capital and Debt categories and 77 million euros in five First Stage Funds in the Venture Capital, Incubation and Technology Transfer categories.

To date, investments of 1.424 billion euros over nine calls have been approved in a total of 64 new private funds. The funds that Fond-ICO Global has invested in, have invested more than 1.683 billion euros in more than 330 Spanish companies employing for over 100,000 workers.

In addition, and given the multiplier effect generated by this instrument, the investment commitment of Fond-ICO Global in the nine calls to date (1.424 billion euros) represents an injection of 5.546 billion euros into Spanish companies, which has had an impact on improving the productivity of these companies, greater growth of the economy and the creation of employment.

On 7 March 2018, the rules for participating in this call will be published and the deadline for submitting documentation by fund managers is 19 April 2018. The terms and conditions of the programme can be found on the Axis website.

Pablo Zalba, ICO Chairman, announced the launch of this tenth call at the presentation of the report named: "Social and economic impact of private equity on middle market operations in Spain", produced in partnership with Fundación ICO. 

ICO, through AXIS, launched Fond-ICO Global five years ago to promote the creation of privately managed private equity funds which invest in Spanish companies at all stages of their growth.

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.