Following the successful performance of the first fund focused on European alternative markets, the Spanish Asset Manager, Inveready, launches Inveready Convertible Finance II, their second investment vehicle centred in investing in high growth companies listed in European Alternative Markets. The fund size is €50M.
Inveready Convertible Finance I invested in companies in Spain such as Gigas Hosting, VozTelecom, Clerhp, Nextil, Agile Content, Atrys Health, Netex Learning, and Izertis. They have also invested in the Euronext Growth París and the AIM in London by investing in the Belgian company AudioValley and the Italian-British SEC Newgate.
In 2020 the fund did its first disinvestment with the takeover of the British Gamma Communications on VozTelecom. This operation allowed Inveready to materialize a return almost 3x times the money invested. Besides, the fund currently benefits from latent capital gains from the rest of its portfolio companies.
The new investment vehicle will invest between 1 and 5 million in growing listed companies that need a financial partner to finance M&A transactions, serve capex expansion plans, develop new products, or expand the company into new territories.
Same as in their previous fund, Inveready will invest in high volatility markets through the convertible bond instrument. This type of mechanism allows the investor to access an instrument with a debt risk and return profile and an equity return potential derived from the conversion option. The good results of their prior fund validate the sustainability of this instrument. This new fund will focus its investments on southern Europe's stock markets such as BME Growth, AIM Italia, and Euronext Growth.
About Inveready:Inveready Asset Management, based in San Sebastian, is one of the leading Venture Capital firms in Spain.Currently in highly innovative technological companies through 4 specialized verticals (Venture Capital in Digital Technology, Venture Capital in Life Sciences, Venture Debt and Hybrid Financing for quoted companies in growth markets). Inveready has 136 active companies within its portfolio and more than 400 million assets under management.
Image: Carlos Conti, General Partner at Inveready (right) and Rubén González, Inveready Convertible Finance Investment Director (left).
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