COFIDES continues to advance the deployment of the Social Impact Fund (FIS) with a €30 million investment in the Mustard Seed + Partners Fund I (targeting €300 million), aimed at supporting companies whose mission is to generate positive social and environmental impact.
Through this investment, the FIS will channel financing to Spanish companies and support their growth in later stages within Spain, contributing to strengthening the business fabric and expanding access to specialised financing.
This European thematic private equity fund, co-founded by senior investors with over 40 years of private equity experience from KKR (former European Head, Global Impact Fund), Goldman Sachs, Blackrock, and Mubadala, focuses on mid-market growth companies at advanced stages of development that provide solutions to challenges such as the climate transition, resource efficiency, as well as social issues. The Fund’s approach combines delivering financial returns with measurable impact, integrating impact measurement and management systems based on recognised standards. To date, the Fund has deployed approximately €55 million across two investments; a leading online education business in Spain and an autonomous marine robotics company based in the Nordics.
Ángela Pérez, Chair and Chief Executive Officer of COFIDES, said: “Through the participation of the Social Impact Fund in other funds, we reach a broader range of companies of different profiles and sizes, thereby multiplying the impact of the Social Investment Fund. Collaboration with specialised managers is key to consolidating a strong impact investment ecosystem in Spain, combining measurable impact with financial sustainability.”
Henry Wigan, Managing Partner & Co-Founder of Mustard Seed + Partners, stated: “We are delighted to establish this long-term partnership with COFIDES. As a leading institutional investor, we are excited to benefit from the team’s extensive market insights and involvement in supporting the Fund’s mission: investing in high-growth, mid-market companies where sustainability drives both productivity and resilience. By targeting Europe's "missing middle"; we are resolutely focused on building regional leaders that ultimately serve to prosper livelihoods.”
ABOUT THE SOCIAL IMPACT FUND (FIS)
The FIS is a fund created by the Spanish Government through the addendum to the Recovery, Transformation and Resilience Plan (PRTR) and is financed with resources from the NextGenerationEU instrument. Managed by COFIDES and attached to the Ministry of Inclusion, Social Security and Migration, it is a public financial instrument aimed at strengthening Spain’s impact ecosystem by supporting investment projects carried out by companies and other entities in Spain that generate a positive and measurable social and/or environmental impact.
The fund has an allocation of 400 million euros and provides financial support to projects that are financially sustainable and that help address underserved social and environmental challenges, while also promoting the mobilization of additional private capital
ABOUT MS+PARTNERS
MS+PARTNERS is a European thematic private equity firm that invests in mid-market growth companies with high impact potential. The firm focuses on supporting companies that integrate sustainability as a driver of productivity and resilience, contributing to the development of strong and long-lasting business models.
Its investment strategy is structured around fundamental societal megatrends, such as industrial technology & energy transition, circularity & resource efficiency; and human capital & essential services, supporting European companies with compelling scaling capacity and a transformative ambition.
ABOUT COFIDES
COFIDES is a state-owned trading company that manages financial funds from the Spanish State, as well as its own resources and those of third-party institutions with various objectives: the internationalization of the Spanish economy, the attraction of foreign investment into strategic sectors in Spain, the promotion of the impact economy in Spain, and the contribution to the development of the countries in which it invests. In addition to the State, which holds a majority position, other shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
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