Creas, a pioneering impact investment manager in Spain, continues to consolidate the fundraising of its second fund, Creas Impacto II, with the addition of new top-tier institutional investors. Notably, COFIDES has joined through the Social Impact Fund (FIS), alongside Aurae Impact, a French impact-focused family office, as well as other private investors from Spain, France and Germany. This addition is subject to the relevant regulatory approvals (CNMV).
These new investors join an existing investor base that includes the European Investment Fund (EIF) and Fondico Crecimiento (managed by Aixa, part of the ICO Group), both of which have supported Creas since its first impact fund launched in 2018. The entry of these strategic players strengthens a pan-European investment network committed to backing companies capable of delivering social and environmental transformation without sacrificing financial returns.
With the final closing scheduled for February 2026, Creas Impacto Global expects to reach €100m in assets under management across its Creas Impacto and Creas Impacto II funds, as well as strategic co-investments alongside its LPs.
An expanding portfolio
With a strategy focused on companies with scalable models and proven traction, the fund has already reached 30% deployment in just 18 months and expects to exceed 40% by the first quarter of 2026. Currently, five companies are part of the portfolio:
All of them share a transformative vision, strong leadership and the potential to become benchmarks in their respective sectors, combining positive impact with scalability.
Impact community: Investor Day 2025
On 25 November, Creas held its Investor Day, bringing together investors, entrepreneurs and experts from the social innovation ecosystem. The event served to share the fund’s milestones and to spark discussions around the challenges that will shape the impact agenda in the coming years.
Prominent speakers included Guillermo Bell (mental health), Marc Masip (digital addictions), Pilar Martínez and Juan Vicente Fernández (sustainable food), and Miguel Luengo-Oroz (AI for social good), alongside representatives from Qida, Goal Systems, Lillian Care and Aurae.
Lara Viada, Managing Partner at Creas, highlights: “We are at a key moment for the impact ecosystem. The entry of COFIDES, Aurae and other European institutional investors shows that impact investing is no longer an emerging trend, but a robust strategy for generating financial value and large-scale social transformation.”
Ángela Pérez, Chairwoman and CEO of COFIDES, underlined that “this FIS investment represents a new and significant step in our commitment to purpose-driven investment, and demonstrates the potential of public-private collaboration, supported by innovative instruments such as the Social Impact Fund, to rigorously address the major challenges society faces today.”
Olivia Mossay, Partner at Creas, adds: “Creas Impacto II is not only building a high-potential portfolio, but also an investor community that shares vision, commitment and transformative ambition. Our approach is based on rigour, close collaboration with entrepreneurs and a clear focus on measurable results.”
About Creas
Creas is a pioneering impact investment manager in Spain. Its second fund, Creas Impacto II, aims to invest in around a dozen growing companies that deliver transformative solutions in education, inclusive employment, health and care, and sustainability. The firm is backed by institutional and private investors, as well as strategic partnerships that strengthen its sourcing and value-creation capabilities.
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 by the NextGenerationEU instrument. Managed by COFIDES and attached to the Ministry of Inclusion, Social Security and Migration, it is a public financial instrument designed to strengthen the impact ecosystem by supporting investment projects carried out by companies and other entities in Spain that generate positive and measurable social and/or environmental impact.
The fund is endowed with €400m and provides financial support to projects that are financially sustainable and contribute to addressing social and environmental challenges that are currently underserved, while also promoting the mobilisation of additional private capital.
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