The Governing Council has approved the decree authorizing the Basque Institute of Finance (IVF) to create the public limited company “Indartuz Kapitala, S.A.”, a strategic fund included in the “Euskadi Eraldatuz 2030” Transformational Investment Plan. Together with Finkatuz, Indartuz will channel most of the €1 billion committed by the Basque Government under the Basque Financial Alliance framework.
The Indartuz Fund represents a new approach in the Basque Government’s financial policy — a fund of funds designed for indirect investment through privately managed vehicles, without excluding the possibility of making direct investments in projects or companies.
The objective of this strategic fund is aligned with the goals of Euskadi Eraldatuz 2030: to mobilize both public and private resources toward transformational investments aimed at strengthening local business roots and boosting the growth and competitiveness of the Basque industrial fabric. The investment plan specifically identifies several programs to be developed by the fund, focusing on flexible debt, business scalability, future-oriented infrastructure, and social transition.
The new company will not have any direct staff, as all management tasks will be carried out by existing personnel from the IVF.
For 2025, the fund will have €65 million in resources provided by the Basque Government. One of the highlights of the 2026 Draft Budget is the inclusion of €935 million in additional debt for “Euskadi Eraldatuz 2030”, which serves as the roadmap for the Basque Government’s commitment under the Basque Financial Alliance. Added to the initial €65 million in own funds for Indartuz, this brings the total to the €1 billion announced by the Lehendakari on March 3.
The “Euskadi Eraldatuz 2030” Investment Plan will be implemented through four public instruments: the newly created Indartuz; the IVF itself, which will expand its usual activity with new financing and guarantee lines for transformational projects; Finkatuz, a fund to foster the anchoring of strategic companies through equity participation; and Capital Riesgo del País Vasco, which will manage two new publicly owned venture capital funds focused on new industry/startups and emerging sectors.
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