Iris Ventures has officially launched IRIS FUND II, F.C.R.E. S.A., a European venture capital fund registered with the CNMV, with a target total committed capital of up to €250 million. The fund aims to invest in innovative companies within the modern consumer sector, including health, wellness, sports, beauty, nutrition, education, and everyday technology.
Managed by IRIS VENTURES SGEIC, S.L.U. and based in Barcelona, IRIS FUND II is structured as an eligible venture capital fund under Regulation (EU) 345/2013 (EuVECA) and complies with current Spanish regulations. It is primarily designed for institutional investors and high-net-worth individuals, both European and international.
Global Investment Strategy with Impact
The fund will invest at least 70% of its capital in unlisted companies that meet the eligible investment criteria, with a global geographical focus. Opportunities in Europe, the United Kingdom, and the United States will be prioritized, although no more than 50% of the fund’s capital is expected to be invested in the U.S.
The investment firm’s current portfolio includes European and U.S. brands such as Olistic, Vicio, Artemest, Mammaly, Maurten, and Essentialist. Now, it plans to replicate the model on a larger scale and enter new segments such as longevity and sports, explains Montse Suárez, CEO of the management company.
While the average ticket size in the first fund was around six million euros per transaction, the new fund will invest between twelve and fifteen million euros per deal.
Aligned with ESG criteria, IRIS FUND II is classified as a financial product under Article 8 of the SFDR, integrating sustainability risks into its investment and due diligence processes.
Professional and Transparent Structure
The fund will be supported by PricewaterhouseCoopers as auditor and Altamar Fund Services as fund administrator. Legal advice will be provided by Clifford Chance. Risk management, governance, and transparency towards shareholders are among the management company's top priorities.
Innovation in Co-Investment and Commitment to Entrepreneurship
IRIS FUND II stands out by offering co-investment opportunities to its shareholders and allocating 1% of the performance fee to initiatives related to female entrepreneurship, sustainability, and innovation.
“IRIS FUND II is a natural evolution of our investment thesis focused on the modern consumer, with a clear international and impact-driven approach,” says Montserrat Suárez Padreny, a key executive at Iris Ventures.
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