EXPIRED DEADLINE OF THE FIRST CALL FOND-ICO GLOBAL, FUND OF FUNDS
for the selection of venture and growth capital funds.
FOND-ICO Global announces its first call for the selection of venture capital funds
- The conditions for the selection of the different funds will be published in the webpage of AXIS during the next two weeks.
- The investment programme will be implemented by means of a call for public tenders that will be carried out over the next four years.
- FOND-ICO Global aims to strengthen venture capital activity, offering alternative, non-bank funding to Spanish businesses.
24 September 2013.- FOND-ICO Global, the “fund of funds” managed by AXIS, ICO’s venture capital firm, has launched the first call for tenders for the selection and investment in venture capital funds. There are plans to carry out subsequent calls for tenders over the next four years depending on investor demand and the market situation at the time.
FOND-ICO Global is the first public venture capital “fund of funds” created in Spain, and holds €1.2 billion. The design and roll-out of the “fund of funds” fall within the framework of the measures set forth in the “Economic Stimulus and Support for Entrepreneurs Plan” announced by the President of the Government.
The call for the first tenders is in line with the schedule established in the FOND-ICO Global launch, after being registered with the Spanish Securities Market Commission and having defined its investment strategy.
One of the major objectives of FOND-ICO Global is to promote the creation of privately managed venture capital funds that invest in Spanish companies at all capital investment stages.
Moreover, the roll-out of this initiative will help to improve and diversify the sources of funding available to businesses, create jobs, attract foreign investors and drive the internationalisation of Spanish companies.
Investments exceeding €3 billion
AXIS, the ICO group’s venture capital manager, has designed an investment programme that will be implemented by means of periodic calls for tenders. These calls are open to any funds that meet the qualification requirements defined in each round. This investment programme will mean that FOND-ICO Global’s contribution will act as the “anchor investor” and attract both domestic and foreign private investors.
FOND-ICO Global has a four-year horizon for investments in the various private funds it identifies. It is estimated that in this timeframe it will collaborate on the creation of over 40 new venture capital funds in their various forms. The launch of this “fund of funds” completes the catalogue of venture capital products promoted by ICO through AXIS.
The aim is to promote the creation of venture capital funds managed by private managers covering the investment in Spanish companies within all their development stages. Find out more
The aim is to promote the creation of venture capital funds managed by private managers covering the investment in Spanish companies within all their development stages
Find out more
What is AXIS
Wholly owned by Instituto de Crédito Oficial, AXIS is a venture capital manager providing enterprises with
capital and quasi-capital instruments to finance their growth.
Our aim is to provide backing for the long-term growth of enterprises at the forefront of their market
segment. This is always done in accordance with financial criteria, supporting the entrepreneur/management
Since its cration in 1986 AXIS has provided assistance for enterprises’ expansion plans with
financing and a long-term business vision.
Isabel La Católica Fund
The Isabel La Católica Fund-EAF Spain provides equity to Business Angels and other non-institutional investors for the financing of innovative companies in the form of co-investments.