Axis, the ICO Group's venture capital company, has completed the seventh call for applicants for FOND-ICO Global by selecting nine funds in which it will invest €157 million. Since its creation in 2013, FOND-ICO Global has approved over €1.1 billion in investments, which translates into an investment of over €4.4 billion in Spanish companies.
The funding round that ended today included the categories of Capital Expansion, Venture Capital and Incubation. The high number of participants should be noted: 26 funds, the majority of which are focused on companies in their early stages, venture capital, and incubation. Twenty-seven percent of the funds that participated in this round are international, which demonstrates the importance of this instrument in attracting foreign capital to Spain.
The €157 million that FOND-ICO Global will contribute to the nine funds selected will be distributed as follows: €109 million will be allocated to three capital expansion funds, €30 million to three venture capital funds and €18 million for the three incubator/technology transfer funds.
Given the multiplier effect generated by this instrument, the funds that receive investments in this round will in turn invest a minimum of €660 million in Spain, which translates into 4.2 times the €157 million invested by FOND-ICO Global.
The selected funds are:
In the Capital Expansion category:
NEXXUS IBERIA SGEIC SA
OQUENDO MANAGEMENT II SARL
REALZA CAPITAL SGEIC SA
In the Venture Capital category:
INVEREADY ASSET MANAGEMENT SGEIC SA FONDO
JME VENTURE CAPITAL SGEIC SA
SI CAPITAL PRIVATE EQUITY SGEIC SA
In the Incubator/Technology Transfer category
CLAVE MAYOR SGEIC SA
A venture capital management firm that is 100% owned by ICO. AXIS has been operating in the venture capital market for almost 30 years, during which time it has made investments in more than 160 companies totalling nearly €400 million.
About FOND-ICO Global:
FOND-ICO Global is the first public venture capital “fund of funds” created in Spain, with capital of €1.5 billion. Its objective is to promote the creation of privately managed venture capital funds that invest in Spanish companies. This “fund of funds” is managed by AXIS, the venture capital company fully owned by ICO.