One of the sector’s most longstanding operators, Axis Participaciones Empresariales, Sociedad Gestora de Entidades de Capital Riesgo S.A. was established in 1986 on the initiative of State-owned banking officials for the purpose of boosting venture capital activity in Spain. Since 1993, it has been wholly owned by Instituto de Crédito Oficial (ICO).

Axis currently manages two venture capital funds: Fond-ICO, with an allocation now standing at €122m after an increase of €50m made by ICO in 2006; and Euro-ICO, with an allocation of €18m.

Since it came into being over 20 years ago, Axis has invested €200m in its bid to make a decisive contribution to the launching or development of over 100 corporate projects, mostly of an innovative nature. At year-end 2006, Axis had a portfolio of 20 companies, with a total investment of €82m

Given the size of resources under management, Axis is in a position to reach a wide spectrum of enterprises, ranging from newly-constituted concerns to consolidated, medium-sized firms. In this undertaking, it provides not only financing and a long-term view deriving from its nature as a State-owned enterprise but also a stable team of professional experts who, while assisting in the definition and development of the company’s strategy, play no part in day-to-day management.

Axis is listed in the Official Venture Capital Entities’ Register of the Spanish Securities and Exchange Commission (CNMV), under Number 1, and belongs to ASCRI and EVCA.