The Provincial Council of Bizkaia has approved, in its Government Council meeting, the enlargement of two of its strategic venture capital funds managed by Seed Capital Bizkaia: Biscay Anchor Fund (BAF) and Seed Capital de Bizkaia BI, for a total amount of 8 million euros. Each fund will receive an additional contribution of 4 million euros, with the aim of boosting innovative entrepreneurship, strengthening the growth of technological SMEs, and attracting new investment entities to the territory.
These enlargements deliver on the announcement made by the General Deputy of Bizkaia, Elixabete Etxanobe, during the latest General Policy Plenary held in Gernika, where she stated that Bizkaia would reinforce its financial instruments to support companies in a context of technological transformation, green transition, and the need to develop high value-added projects.
The Government Council has approved the enlargement of the Biscay Anchor Fund (BAF) by 4,000,000 euros, aimed at continuing to attract new investment entities to Bizkaia. This increase will provide the necessary resources to invest in other investment funds, which in turn will invest in companies, helping to develop and boost economic activity and employment in Bizkaia.
Managed by Seed Capital Bizkaia, BAF’s purpose is to invest in venture capital funds that, in turn, invest in companies in Bizkaia with high technological, innovative, and growth potential. Created more than two years ago, it has become a key instrument for connecting Bizkaia with national and international investment networks.
Through this vehicle, public investment is multiplied, since the funds receiving BAF’s investment commit to multiplying by three the contribution made by BAF in companies within the territory, generating a strong amplifying effect. This attracts specialised capital, strengthens the competitiveness of Bizkaia’s investment ecosystem, and positions the territory within highly specialised international investment circuits.
The Government Council has also approved the enlargement of the Seed Capital de Bizkaia BI – SME Venture Capital Fund by 4,000,000 euros. This fund invests in innovative and technological SMEs with growth potential, job-creation capacity, and opportunities for entering new markets. The enlargement will enable support for companies in developing new products or services, expanding into new markets, improving production processes, and optimising management, ensuring their stability and future growth.
The BI Fund is one of Seed Capital Bizkaia’s most active vehicles, focusing on companies that already have consolidated financial and commercial teams and are in expansion phases. Typical investments are around 500,000 euros, although some transactions may exceed one million euros.
Beneficiary companies belong to industrial, technological and service sectors, with strong driving potential and the ability to generate employment and long-term economic presence in Bizkaia.
The 4-million-euro reinforcement will allow the fund to respond to the growing number of larger transactions in advanced growth stages and will ensure continuity for an investment line that has become a cornerstone of public support for technological and innovative SMEs.
With these enlargements, Bizkaia strengthens its financial architecture aimed at supporting startups, innovative SMEs, growth-stage companies, and high-impact technological projects. In addition to the BI and BAF funds, Seed Capital Bizkaia manages other vehicles—such as the Fondo I for startups, the Social Impact Fund, the Konfekoop Fund, and the Start Fund—which together form a solid and diversified financing ecosystem designed to drive the economic transformation of the territory.
Bizkaia thus commits to an alternative financing model that combines public-private collaboration, patient capital, and business support, ensuring that each innovative project finds the backing it needs to grow, create jobs, and contribute to the territory’s economic development.
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