Spain's Fond-ICO Global backs two funds with €93.75M under new open selection process
What's the deal? AxisDealroom has a profile for this one. Try Dealroom →, the venture capital arm of Spain's ICO GroupDealroom has a profile for this one. Try Dealroom →, has approved its first investments under a new open, continuous fund-selection process, committing up to €93.75 million through Fond-ICO Global. The money goes to two funds: up to €75 million in Buenavista Buyout III España and up to €18.75 million in Pangram Capital PartnersDealroom has a profile for this one. Try Dealroom → II.
Where's the money going? Buenavista Buyout III España, managed by Buenavista Buyout, targets €250 million and aims to support the growth of mid-sized Spanish companies. It falls under the growth capital category.
What else? The €18.75 million commitment to Pangram Capital Partners II sits in the venture capital category. That fund, managed by Quadriga Asset Managers, has a target size of €75 million.
Why now? Fond-ICO Global has sharpened its focus on growth capital and venture capital under the new procedure. Since the process opened, it has received 11 applications.
The signal: By shifting to a rolling selection model concentrated on growth and venture, Spain's public backer is signalling a steady, ongoing pipeline of state-supported capital for domestic funds rather than one-off calls.
Read more: Forbes España
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