Harvest Capital Management SGEIC, the management company co-founded by Jaume Oliu and Franc Gomez-Landero, has just received authorisation from the CNMV for its new vehicle: Itaca Search Fund Partners II, which will have a minimum size of €20 million and a maximum of €40 million.
Its objective is to invest in approximately 30 entrepreneurs or companies, 70% of which will be located in Europe and 30% in Latin America, with Mexico as the most relevant market within the latter region.
Itaca Search Fund Partners II will focus on ancillary services for industry (such as logistics and industrial automation), technology-based services (such as software for industrial process control and customer management) and the manufacturing and wholesale of industrial and non-industrial inputs, including the distribution of machinery and the supply of consumables for the industrial, healthcare and food sectors.
The majority of the investments to be made by the fund will be minority stakes, with acquisitions ranging from 2 % to 50 % of the companies' share capital. However, it will seek to be involved in the management bodies of the investee companies, thanks to the incorporation of clauses that allow it to defend the interests of investors and maintain a certain level of control, even without having a majority stake in the capital.
Search funds represent a natural evolution of venture capital: entrepreneurs seeking, acquiring and transforming SMEs with potential, combining smart capital with operational leadership.
Lexcrea has led the legal structuring and CNMV approval process of this investment vehicle.
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With a target size of €250 million, the fund aims to complete betwee...
