Institut Català de Finances (ICF - Catalan Finance Institute) is a public financial institution founded in 1985 and owned by the Government of Catalonia. ICF's mission is to foster and improve access to funding for enterprises in Catalonia in order to contribute to the growth of the region's economy, complementing the private financial sector.
The institution offers to the companies a range of products and services in the area of corporate finance, focusing on loans and guarantees and venture capital initiatives.
ICF operates via a parent company, two subsidiaries (IFEM and ICF Capital) and an investee (AVALIS).
ICF, through IFEM, supports the creation and growth of innovative start-up through venture capital programs and co-investment with private investors through participative loans.
ICF Capital, which manages closed-end UCITS and is authorized by Spain's National Securities Market Commission (CNMV), manages, nurtures and advises public and/or private funds or venture capital firms that provide capital to Catalan companies. At present, ICF Capital directly manages three venture capital firms: Capital MAB, Capital Expansió and BCN Emprèn.
The objective of ICF in venture capital is doing an investment by a fund or company for a limited time, in a business growth project, generally in new projects, internationalization initiatives, industry consolidation and/or innovation projects that offer the prospect of good returns. The ICF promotes and/or participates in creating venture capital instruments in order to improve the availability of capital to companies. It works with, and complements, the private sector, seeking to multiply the funds allocated to each project.
At the present time, the Catalan public financial entity has invested near 170 million euros in 32 instruments of capital that together with the more than 1,200 million euros brought by other investors, sink a potential investor of more than 1,400 million euros, of which 47% has already been invested in more than 300 companies.
- Area of Activity
- Venture Capital - General
- Venture Capital Investors in Construction, Building and Real Estate
- Venture Capital Investors in Transport industry and Logistics
- Venture Capital Investors in Consumer Services
- Venture Capital Investors in Health and Medical sector
- Venture Capital Investors in Chemical sector and Plastics business
- Venture Capital Investors in Consumer Products sector
- Venture Capital Investors in Environment and Natural Resources
- Venture Capital Investors in Energy sector
- Venture Capital Investors in Electronics sector
- Venture Capital Investors in Automobile and Robotics sector
- Venture Capital Investors in Food and Beverages sector
- Venture Capital Investors in Agriculture, Livestock and Fishing
- Venture Capital Investors in Multimedia groups and companies
- Venture Capital Investors in Technology
- Venture Capital Investors in Industrial Services
- Venture Capital Investors in Industrial Products
- Venture Capital Investors in Media, Press and Communications
- Venture Capital Investors in Internet and technological companies
- Venture Capital Investors in Software and Hardware
- Venture Capital Investors in Hospitality, Tourism and Leisure sector
- Venture Capital Investors in Biotechnology
- Venture Capital Investors in Banking and Financial Services
- Private Equity Investors in Computer Software and Hardware
- Private Equity Investors in Industrial Products sector
- Private Equity Investors in Consumer products sector
- Private Equity Investors in Energy sector
- Private Equity Investors in Building, Construction and Real Estate
- Private Equity Investors in Transport and Logistics
- Private Equity Investors in Telecom indsustry
- Private Equity Investors in Technology
- Private Equity Investors in Health and Medical sector
- Private Equity Investors in Chemical sector and Plastic materials
- Private Equity Investors in Environment and Natural Resources
- Private Equity Investors in Electronics sector
- Private Equity Investors in Automobile, Industrial sector and Robotics
- Private Equity Investors in Food and Beverages industry
- Private Equity Investors in Agriculture, Livestock and Fishing
- Private Equity sector
- Private Equity Investors in Multimedia business
- Private Equity Investors in Tourism, Hospitality and Leisure
- Private Equity Investors in Consumer Services
- Private Equity Investors in Industrial Services
- Private Equity Investors in Media, Press and Communications Sector
- Private Equity Investors in Internet and technological companies
- Private Equity Investors in Biotechnology
- Private Equity Investors in Banking and Financial Services
- Corporate Finance
- Company type
- Venture Capital
- Private Equity
- Professional Services
Gran Via de les Corts Catalanes, 635, 6ª planta
Barcelona, Barcelona 08010, ES
P: 902 227 237
Josep-Ramon Sanromà Celma, CEO
Anna Àlvarez Santiago, general manager
Joan Carles Rovira Garcia, general manager
Vanessa Servera Planas, general manager
Marta Gomà Rigat, corporate manager
Equity Investments and Capital Markets - Joan Carles Rovira Garcia, general manager
• Financial instruments investments - Irene Bertran Aixut, manager
• Treasury and Capital Markets - Xavier Auguets Pratsobrerroca, manager
Subsidiaries and investees
• Capital Expansió - Adrià Torrelles Burgués, manager
• Capital MAB - Emili Gómez Jane, manager
• BCN Emprèn - Christian Fernández García, manager
IFEM - Marc Lloveras Llavina, manager
ICF finances entrepreneurs, self-employed workers, micro-enterprises, SMEs and large companies through a broad range of financial products and instruments with the objective of financing investments, working capital and capital. Among the new financing lines of the 2017, it highlight the ICF Eurocrèdit, a new financing instrument that is co-financed 50% by the ICF and 50% by the EU ERDF fund. Also, the ICF Commerce that offer loans or leases for entrepreneurs, self-employed workers, micro enterprises and small and medium-sized enterprises (SME) from the commerce, handicraft, fashion and relational services sector.
In addition, ICF works together with Avalis de Catalunya to make it easier for companies to obtain credit.
ICF operates in the following three market segments:
·Seed/start-up capital: Projects in their initial phases that have not yet reached mass production and present technology and/or business model risk.
·Development/Venture capital: Funds aimed at technology projects (ICT, biotech, etc.) to complete the initial development and the commercial launch of the product or service, and early growth phases.
·Growth segment: Investments to enable established profitable companies to make investments, acquire assets or develop new products
ICF operates in venture capital through ICF Capital, the ICF Group's venture capital operator who manages and advises public and/or private venture capital funds or firms that provide capital to Catalan companies. ICF Capital manages the following companies:
- Capital Expansió. A venture capital fund that supports growth, internationalization and industry concentration projects. Capital Expansió invested in the following companies: Plásticos Compuestos, el Instituto Oftalmológico Tres Torres, Adelte, Varador 2000, Whisbi Technologies and Enertika.
- Capital MAB. A venture capital fund that invests in companies that are listed in the MAB or other alternative markets and in IPOs in those markets. Capital MAB is invested in the following companies: AB-Biotics, Medcom Tech, Agile Content, Lleida.net, Voz Telecom y Oryzon Genomics.
- BCN Emprèn. A venture capital company aimed at growth projects by technology and innovative companies (currently in the divestment phase).
In the area of venture capital, the Group acts as a fund of funds. It cooperates and co-invests with the specialized private sector, identifying the gaps in the market and acting as a driving force for achieving more investment for companies operating in Catalonia.
In this sense, each euro invested in venture capital by the ICF in 2017 has contributed to mobilizing more than 8.5 euros from other investors broadening like this the potential investor of these instruments.
A part of having its own business agent, Capital ICF, and own 3 funds of venture capital (ICF Expansion, Capital MAB and BCN Emprèn), the ICF co-invests with private investors, business angels, venture builders, business accelerators and venture capital funds, for the impulse and development of start-ups. In 2017, the ICF has invested a total of 2.5 million euros in 16 Catalan start-ups through participative loans of until 200,000 euros that complement the investment of other private investors.
The fund is aimed at companies with Catalan headquarters, considering two turnover segments:
- Turnover between €10 and €100 million: Type of stake: participative loans and/or equity; investment of between €500,000 and €2.4 million, jointly with other investors.
- Turnover between €4 and €10 million: Type of stake: mainly, participative loans; investment of between €500,000 and €1 million.
Capital MAB, FCR is a venture capital fund that invests in companies at the time of an IPO in the Mercado Alternativo Bursátil (MAB) or other alternative equity markets, and in subsequent equity issues. Capital MAB's goal is to boost equity issues by acting as an institutional investor and providing confidence to other investors.
The fund goes to Catalan companies and the maximum investment is 1 million euros.
IFEM acts as a venture capital investor in companies with a base in Catalonia. The beneficiaries are start-ups and companies at an early stage of growth that have a high technology and innovation component.