Axon Partners Group has been selected by the Instituto de Crédito Oficial (ICO) and Axis as one of the Venture Capital funds that will receive investment from Fund of funds FOND-ICO Global.
The chosen fund is Axon ICT III, a Fund focusing on investing in innovative, established and competitive Spanish companies in growth phase in the digital economy sector. Axon could make individual investments of more than EUR 10M in some cases. Fondo ICT III is the natural continuation of Axon’s ICT I Fund (a growth fund from 2011, which has now been divested), and complements the current ICT II Fund, which is dedicated to companies in initial phases, with a particular focus on Andalusia.
In this round, FOND-ICO Global will invest a total of 248 million euros, and the selected candidates are committed to investing 665 million euros in Spain.