AXIS, the private equity arm of the ICO Group, has approved the first investments under Fond-ICO Global's new open-ended, continuous fund selection process. The approved commitments amount to a combined maximum of €93.75 million: up to €75 million in Buenavista Buyout III España, a fund managed by Buenavista Equity Partners, and up to €18.75 million in Pangram Capital Partners II, managed by Quadriga Asset Managers.
The new open-ended process allows fund managers to submit applications at any time, without having to wait for periodic calls with fixed deadlines. This enables Fond-ICO Global to better align its participation with each fund's fundraising timeline and stage of development.
Under this new framework, Fond-ICO Global is strengthening its focus on the Growth Capital and Venture Capital asset classes, with the aim of supporting funds that help Spanish companies grow, consolidate, innovate and expand internationally. This approach also facilitates coordination with other public institutions specialising in the earliest stages of business development.
Since the launch of the new process, 11 applications have been submitted, reflecting the positive reception among fund managers and the sector's interest in a more flexible model that is better aligned with fundraising dynamics.
Supporting the growth of Spanish mid-sized companies
Fond-ICO Global has approved a commitment of up to €75 million to Buenavista Buyout III España, a fund with a target size of €250 million focused on supporting the growth of Spanish mid-sized companies. This investment falls within the Growth Capital category.
The fund aims to drive the consolidation of companies with strong growth potential and foster the development of market-leading businesses with an international outlook. Its investment strategy is primarily focused on the business services, consumer and healthcare sectors.
Backing innovative SMEs
Within the Venture Capital category, Fond-ICO Global has approved an investment commitment of up to €18.75 million to Pangram Capital Partners II, a fund with a target size of €75 million.
Pangram Capital Partners II is focused on innovative Spanish SMEs with high growth potential. Its objective is to support these companies throughout their development, scaling and international expansion, with particular emphasis on businesses driven by innovation, technology and digital transformation.
The approval of these two investments marks the implementation of Fond-ICO Global's new strategic approach and reinforces AXIS's commitment to adapting its investment instruments to the evolving needs of the private capital market.
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