The Executive Council of the portfolio fund for the management of financial instruments under the ERDF programme of the Valencian Community, coordinated by the Valencian Institute of Finance (IVF), has awarded the funds for the new financial instrument ‘Venture Capital for Sustainable Growth’, financed with resources from the Valencian Community ERDF Programme 2021–2027.
Following the resolution of the call for proposals, seven management firms have been selected to act as financial intermediaries for managing the resources allocated to this new instrument, which will initially have a budget of €25 million.
The selected management firms are:
Demium Capital SGEIC, S.A.,
Successful Capital SGEIC, S.A.,
Suma Capital SGEIC, S.A.,
Side Capital Partners SGEIC, S.A.,
Draper B1 Business Booster SGEIC, S.A.,
Moira Capital Partners SGEIC, S.A., and
Oquendo Capital SGEIC, S.A.
In this regard, Ruth Merino, Minister of Finance and Economy, highlighted that this new capital instrument is the largest ever managed by the IVF.
Merino also emphasized the strong level of interest, noting that the IVF received 17 proposals from interested firms, with a total value exceeding €50 million, demonstrating “the appeal and positive reception of this financial product.”
“The creation of financial support vehicles for new innovative projects developed in the Valencian Community is not only a strategic investment in the future of our society; it is also an essential step to ensure the sustainable development of our region,” added the Minister.
With the launch of this new financial instrument, the IVF completes its suite of financial products designed to channel resources from the 2021–2027 ERDF Programme into the Valencian Community. “The IVF estimates that these instruments will channel more than €80 million, helping to strengthen and reinforce the entrepreneurial ecosystem in the region,” Merino stated.
Due to the co-investment component of this product, the more than €25 million awarded will generate approximately €50 million in business investment in the Valencian Community. This amount adds to the budget already allocated to two other ERDF co-financed instruments offered by the IVF.
Specifically, through a participative loan line with a budget of €9 million, the IVF provides financial support to micro and small newly established companies developing innovative projects. These loans range between €50,000 and €300,000, with terms of up to seven years, grace periods of up to three years, and interest rates between 3% and 9%.
For innovative companies in growth or consolidation phases, the IVF also offers a subordinated loan line with a budget of €21 million. These loans range from €300,000 to €1 million, with terms of up to ten years, grace periods of up to three years, and interest rates of Euribor + 6.50%, which may be subsidized by between 2 and 6 percentage points depending on the case.
“For this government, it is essential to support emerging projects that foster a culture of innovation in the Valencian Community and help position our region as a leader in technological development. European resources have allowed us to design the most appropriate financial instruments to become a benchmark hub for the innovation ecosystem,” concluded Minister Merino.
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