ICO invests 329 million euros in 15 private equity funds that will channel 1,220 million euros to Spanish companies
22 December 2020
- This is the largest call since the creation of Fond-ICO Global, launched with the aim of contributing to the recovery and transformation of the economy around strategic axes such as sustainability, digitisation and innovation
- Thanks to public-private collaboration, the investment made by Fond-ICO Global will have an outstanding multiplier effect, mobilising in excess of 1,220 million euros, destined to boost the activity of innovative and technology-based Spanish companies
- The financing of technology-based start-ups and SMEs is boosted with the selection of nine funds in the early stage categories (incubation, technology transfer and venture capital)
AXIS, the ICO Group's venture capital company, has resolved the thirteenth call for Fond-ICO Global, announced in July, with the selection of 15 funds in which it will invest 329 million euros.
The round resolved today, launched with the aim of contributing to the recovery and transformation of the economy around strategic axes such as sustainability, digitisation and innovation, is the largest since the creation of Fond-ICO Global, both in terms of the amount awarded as well as the number of funds in which it will participate.
Thanks to the driving effect generated by the public-private collaboration scheme with which Fond-ICO Global works, the 15 selected funds will mobilise a minimum of 1,224 million euros of financing from the 329 million approved investment. This will be provided to innovative, technology-based Spanish companies to support the transformation of the economy.
In this call, there was a particular focus on the entrepreneurial ecosystem, promoting the financing of projects of companies in the first stages of development and start-ups. With this objective, nine funds were selected in the categories of incubation, technology transfer and venture capital.
40 funds were submitted to the selection process, of which 27% are international funds, highlighting this instrument¿s important role in attracting foreign capital.
The 329 million euros of total investment approved for the 15 selected funds are distributed as follows: 25 million will be invested in the 4 funds chosen in the "Incubation/Technology Transfer" category; 107 million in the 5 selected "Venture Capital" funds; 147.5 million will be allocated to the 4 funds selected in the "Expansion Capital" category and 50 million to the 2 "Debt" category funds.
The Managers whose funds have been selected are the following:
In the Venture Capital category:
- ALANTRA CAPITAL PRIVADO SGEIC SA
- KIBO VENTURES PARTNERS SGEIC SA
- NAUTA CAPITAL VC PARTNERS SGEIC, SA
- 4FOUNDERS CAPITAL SGEIC SA (SEEDROCKET)
- AXON PARTNERS GROUP INVESTMENT SGEIC SAU
In the Incubation/Technology Transfer category:
- SOCIEDAD PALLADIUM CORPORATE VENTURE, SL
- KIC INNOENERGY IBERIA SL
- BELEROFONTE CAPITAL S.L.
- IMPULSE2GROW SL
In the Expansion Capital category:
- ACON SOUTHERN EUROPE MANAGEMENT LLC
- TRILANTIC CAPITAL PARTNERS VI GP SÀRL
- MAGNUM CAPITAL MANAGEMENT SÀRL
- TALDE GESTION SGEIC SA
In the Debt category:
- OQUENDO CAPITAL SGEIC SA
- MUZINICH & CO LIMITED
In this new call, the digitisation and sustainability of companies and projects continued to be qualitative criteria to be assessed for the selection of funds, and, given the situation created by COVID-19, the implementation of action plans by managers to provide additional and temporary liquidity to companies in their portfolio was included for the first time.
Expansion of FOND-ICO Global
Given the good performance of the fund and its positive effect on the private equity sector in Spain, the ICO Group approved an additional 2.5 billion euros for Fond-ICO Global's next 5 years last July.
Thanks to its versatility, Fond-ICO Global has established itself as an instrument that adjusts to the needs of the entrepreneurial ecosystem at all times. For this reason, the fund selection system will be maintained through calls that allow both the maximum investment volume and the number of funds offered in each round to be adapted to the needs and objectives of the market.
FOND-ICO Global balance sheet
Fond-ICO Global plays a leading role in the Spanish economy as a catalyst for the venture capital sector in Spain, helping to promote complementary financing channels through public-private collaboration. The funds in which Fond-ICO Global participates make investments in companies at all stages of development, paying particular attention to investments in their early and innovation stages.
Diversifying financing channels helps companies to have more solid growth and be more competitive, through the financing of projects that combine innovation and entrepreneurship, which is undoubtedly a basic pillar for economic recovery.
In the thirteen Fond-ICO Global calls carried out to date, 108 private funds have been selected to invest a maximum of 8,892 million euros in Spanish companies.
Axis was created in 1986 and currently manages 5.15 billion euros across three funds: Fond-ICO Global, Fond-ICO Infraestructuras II, which finances the implementation of long-term sustainable infrastructure projects and facilitates the internationalisation of Spanish companies, and Fond-ICO Pyme, which finances SMEs' expansion plans and technological development.