Launch of the first SPAC, led by Inveready and Javier Tordable, focused on the TECH sector of Spain and Southern Europe

Investor and exchanges, platforms & capital markets expert, Javier Tordable and Spanish leading Tech-based asset manager, Inveready are pleased to announce their project to create the first SPAC (Special Purpose Acquisition Company) for companies headquartered in Spain and Southern Europe, that carry out their activity in the TECH sector. The objective is the identification of TECH companies with special focus on Enterprise Software, Software as a Service (SaaS), B2B Business Models, FinTech, Market Places, E-commerce, Capital Markets, Mobility and Impact.

The project team aims to present the IPO prospectus of this SPAC, which will be called "Southern Europe Tech SPAC I" in September 2021, in order to start trading on Euronext during the last quarter of 2021. The project led by Tordable, who has extensive experience in the listed markets sector, is joined by Inveready's experience in the successful launch and investment of companies listed on European markets and on Nasdaq, such as Más Móvil, Atrys or Edesa among others. With this initiative, Inveready continues to complement its multi-product strategy to cover the full spectrum of growth needs of technology and innovative companies. The Sponsor team led by Tordable and Inveready is expected to include more partners in order to create a leading long-term investment project in the European TECH sector via this type of vehicle.

Javier Tordable said “SPAC vehicles are representing a critical source of efficient funding for the TECH sector in the United States, so it is of utmost importance that the growing and vibrant Tech ecosystem in Southern Europe has a vehicle of this type specialized only in them. In addition, we plan it to be the first of many SPAC vehicles aimed to provide transparency, liquidity and capital to the growing entrepreneurial ecosystem of Southern Europe.”

Josep Maria Echarri Executive President commented “At Inveready we are constantly looking for how to improve access to quality financing, and appropriate to their needs, for entrepreneurs in Spain. With this project, we seek to give financial buffer and upside to companies with projection, as well as an excellent return to the investors who will accompany us. We know first-hand the competitive value that southern European companies can bring to investors in this initiative.”

Ignacio Fonts, CEO of Inveready added “There are excellent companies in the TECH sector in Southern Europe, which have been able to take advantage of the development of the market to gain solid competitive positions. This project will make visible how these companies can bring value to investors, who until now did not have access to these opportunities.”

Inveready Founded in 2008, Inveready is one of Spain’s leading Asset Management firms. Investing in enabling technology through 5 specialized verticals (Information Technology, Life Sciences, Venture Debt, Alternative Markets, and Private Equity) Inveready counts on 150 active companies, +40 exits, and more than €600M of assets under management.

Some of our portfolio companies have been acquired by multinationals such as Intel, Symantec, IBM, and Facebook, whilst others are listed in public markets such as NASDAQ, the Spanish BME Growth, AIM London, and Euronext Growth.

Inveready, headquartered in San Sebastian, has offices in Barcelona, Madrid, and San Sebastian and was recognized multiple times by ASCRI and Preqin for their funds’ performance and their transactions. For more info, visit www.inveready.com

Javier Tordable Parcerisa

Expert in Exchanges and Capital Markets with +20 years in Investment Banking, Stock Exchanges, Public and Private Markets in Frankfurt, Chicago, Madrid, Stockholm and the last 7 years in London. Tordable has extensive experience in international exchanges, capital markets and financial services, having held senior management positions at a number of exchanges, trading platforms and Tech companies, including Deutsche Börse/Eurex, MTS Markets (today, Euronext Group), Chicago Board of Trade (now CME), PAVE MTF, and Cinnober (today, NASDAQ). Tordable is also a lecturer, adjunct professor, investor and financial entrepreneur focusing on advisory and/or investment activities in Market Operators, Sell side, Buy side firms and Tech Start-ups, mainly FinTech.

https://www.linkedin.com/in/javier-tordable-parcerisa-b9009530/