FOND-ICO Global, the “fund-of-funds” initiative of ICO, launches the second call for tender to select another eight Venture Capital funds

  • Axis, the private equity branch of ICO, launches the second call for tender to select eight Private Equity and Venture Capital funds, where four will be Venture Capital funds and the other four will be Growth funds.
  • In 2013, the first call of the process resulted in an amount of 685 million Euros leveraged by FOND-ICO Global. That figure outnumbered the 447 million Euros leveraged by all the Spanish private equity firms in 2012.
  • The basis documentation for the selection of Private Equity and Venture Capital funds can be found at Axis webpage.
  • The third round of FOND-ICO Global tender process will be opened on July 11th, 2014.

 February 21st, 2014.- FOND-ICO Global, the fund-of-funds initiative managed by Axis – Private Equity Management company within ICO group – launches the second call for tender to select and invest in Private Equity and Venture Capital funds. According to the investment policy of FOND-ICO Global, the tender process will be carried out in several rounds. The preferred bidders’ selection will observe the public procurement principles of communication, competition, equality and transparency, as it happened in the first round.

Further to the large amount of bids received during the first round, this second call targets the selection of another eight funds, where four will be Venture Capital vehicles and the other four will be Growth funds.

The bidding management companies will be able to submit their proposals until March 21st, 2014.

It should be underlined that, the amount leveraged by FOND-ICO Global in the first call in 2013 reached 685 million Euros, which largely outnumbered the 447 million Euros leveraged by all the Spanish private equity firms in 2012, according to ASCRI data (Asociación Española de Capital Riesgo).

In the first call of the process, six private equity funds were selected. These six funds have global commitments of 685 million Euros, where 189 million Euros are provided by FOND-ICO Global.

Within the framework of FOND-ICO Global investment program for the coming four years, the third call for tender will be launched on July 11th, 2014, while the fourth call will be opened in the fourth quarter.

 More information about FOND-ICO Global

FOND-ICO Global is the first Spanish public Private Equity “Fund-of-Funds” initiative. It is endowed with up to €1.2 billion and it aims at promoting the creation of venture capital funds, privately-managed, making investments in Spanish companies at any development stage. The “Fund-of-Funds” initiative is managed by AXIS, the Private Equity Management company 100% owned by ICO. This initiative is oriented to both dynamize the private equity market and be a catalyst for the creation of about 40 new private venture capital funds.

The purpose of this instrument is to attract national and foreign private investors capable of leveraging / mobilizing around 5 billion Euros. Therefore, according to initial estimates, the initiative could help creating more than 40 new private venture capital funds to be invested in companies in different growth stages.

 More information about Axis

Axis is a regulated Private Equity Management company 100% owned by ICO. Axis has been an active operator of the Spanish Private Equity market for the latest 25 years. Historically, Axis has invested more than 350 million Euros in more than 150 companies.

FOND-ICO GLOBAL´S FIRST CALL: SELECTED MANAGMENT COMPANIES

VENTURE CAPITAL:

  • Adara Ventures Partners II SARL (Fund: Adara Ventures II, SCA. SICAR)
  • Ambar Capital y Expansión SGECR SA (Fund: Reemprende Empresa y Crecimiento, FCR)
  • Suma Capital SCR SA (Fund: Green Buildings Equity Fund I, FCR)

GROWTH CAPITAL:

  • Corpfin Capital Asesores SGECR SA (Fund: Corpfin Capital Fund IV, FCR)
  • Diana Capital SGECR SA (Fund: Diana Capital II, FCR)
  • Portobello Capital Gestión SGECR (Fund:Portobello Capital Fondo III, FCR)

Second Call: 21 february 2014

EXPIRED DEADLINE OF THE FIRST CALL FOND-ICO GLOBAL, FUND OF FUNDS

for the selection of venture and growth capital funds.

Basis of the First Call

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.

FOND-ICO Global

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

FOND-ICO Global

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

FOND-ICOpyme

The aim is to provide backing for enterprises’ expansion plans, in the form of finance and a long-term business vision.


Find out moreFOND-ICOpyme

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 aims

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
team.

AXIS’ contribution

Since its cration in 1986 AXIS has provided assistance for enterprises’ expansion plans with
financing and a long-term business vision.

FOND-ICOinfraestructuras

The aim is to participate in projects involving transport infrastructure, energy, social aspects and services.



Find out moreFOND-ICOinfra

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.

Find out moreIsabel la Católica Fund