The City Council of Gijón/Xixón has approved a new tranche of €1 million for the Gijón Invierte II Venture Capital Fund, enabling the fund to have the necessary liquidity to continue its investment activity in startups throughout 2026.
With this new contribution, expected to be formalized in December, the City Council will have completed €4 million of the total €5 million capital of the Fund, in accordance with the regulations filed with the Spanish National Securities Market Commission (CNMV).
Launched by the City of Gijón and integrated into Gijón Impulsa’s SME financing instruments, the Gijón Invierte II Fund began its investment activity in mid-2023 and is expected to continue until 2027.
The fund’s management is entrusted to Torsa Capital, SGEIC, S.A., a venture capital management company based in the Gijón Science and Technology Park. With over 20 years of experience, Torsa Capital has carried out more than 100 financing operations for small and medium-sized enterprises, in both the public and private sectors. Projects analyzed by the management team are submitted for approval to an Investment Committee, chaired by the Deputy Mayor and Councilor for Economy, Employment, Tourism, and Innovation of Gijón/Xixón, Ángela Pumariega Menéndez.
Since inception, Gijón Invierte II has financed 13 local companies, all in early development stages, with €2.3 million in cumulative investments. Around 40% of this financing has been made through equity participations, while the remaining 60% has been provided via convertible participative loans.
The total induced investment from the portfolio companies is estimated at over €5 million, creating approximately 70 jobs to date.
The fund is focused on technology-based projects, with particular attention to R&D+i, aligned with the strategic axes of the Gijón Transforma Pact: Creative Sector, Sustainable Economy, Knowledge Hub, and Blue Economy. Within this framework, Gijón Invierte II has supported companies in sectors such as biotechnology, fashion, blue economy, tourism, software, cybersecurity, fintech, energy, and engineering.
Beyond financial support, the fund acts as a strategic partner, strengthening portfolio companies’ solvency and liquidity, facilitating access to additional financing, and implementing rigorous management mechanisms, including shareholder agreements, quarterly monitoring, and annual audits.
The Fund aims to support companies over an average period of five years, corresponding to the expected time for project maturation, repayment of participative loans, or repurchase of equity in cases of capital increases.
Learn more about theGijón Invierte II SME Venture Capital Fund
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With a target size of €250 million, the fund aims to complete betwee...
