A new committee of the 'Fondo Capital Riesgo PYME Gijón Invierte II' fund has been held. This fund has an endowment of €5 million, with the Gijón/Xixón City Council being the sole partner.
During the committee meeting, 2 operations were assessed, for a total contribution of 300,000 euros.
The approved projects are framed within the verticals to which the fund is destined, specifically in activities related to the design and marketing of fashion, and product and service companies specialising in the latest digital technologies (AI, blockchain...).
Since its launch, 16 operations have been approved, including today's, for a value of €2,925,000, which represents 58.5% of the fund's total endowment.
Ángela Pumariega, Deputy Mayor of Gijón/Xixón and Councillor for Economy, Employment, Tourism and Innovation declared at the end of the event that: ‘Gijón/Xixón has talent, creativity and the capacity to compete. What we do from the City Council is to generate the conditions for this potential to flourish, and this fund is proof of this. Through it, we channel investment towards viable projects that have a direct impact on the local economy, promoting entrepreneurship, technological innovation and the diversification of our productive fabric. The Gijón Invierte II SME Venture Capital Fund thus becomes a strategic tool that reinforces our commitment to boosting the local economy. These investments are not just a financial commitment: they are a commitment to the future of Gijón, to its business fabric and to the creation of real opportunities for our citizens’.
We remind you that the Fund is designed to invest in different phases of business life, among which we can identify:
a.- SEED: Early stages with products under development prior to market launch.
b.- Start Up: Start-up of recently constituted companies.
c.- Early Stage: Companies in the growth phase that demonstrate traction in the market.
d.- Expansion: Mature stage companies in the process of internationalisation or inorganic growth based on acquisitions.
Investment tickets will range from €50,000 in the early stages to €200,000 in the expansion phases.
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