- The objective of the fund of private equity is to support the growth and internationalization of technology and industrial companies of medium capitalization
- Private investors, the European Investment Bank and the European Investment Fund will contribute 300 million
- It is the largest Spanish private equity fund for technology and industrial companies
The Ministry of Economy and Competitiveness has activated through the Center for Industrial Technological Development (CDTI) and the fund manager N + 1 a fund of private equity 400 million euros for technology and industrial companies. The CDTI, through the Innvierte program, acts as an anchor investor with a contribution of 100 million euros. The remaining 300 million come from national and international private investors, the European Investment Bank and the European Investment Fund.
After the phase of attracting investors started last July, the fund that is activated will be called N + 1 Private Equity Fund III. The fund's investment strategy will be focused on technological and industrial companies, becoming the largest Spanish fund with a clear industrial strategy. The fund's investments will range between 35 and 75 million euros and will support the growth and internationalization processes of SMEs and medium-sized companies (midcaps) Spanish with technological and industrial capabilities and high potential. Although there is no sector limitation, the fund may address investments in sectors such as health, agri-food, electronic and mechanical equipment, information and communications, automotive, aerospace and transport and energy materials.
Innvierte
The CDTI, through the Innvierte program, seeks to encourage private investment in technological and innovative companies to help them grow. To do this, it selects initiatives specialized in technological fields in which there is a lack of private investment. Innvierte's commitments are accompanied by private commitments that are the majority in each investment vehicle.
Since its establishment in 2012, Innvierte has invested in 12 funds and maintains three co-investment agreements with investment strategies specializing in technological fields such as Information and Communication Technologies, Life Sciences, Industrial Technologies and Energy and Environment. Innvierte's investment commitment in these funds is 240 million euros, of which it has already invested 104.5 million euros in 87 innovative SMEs.
With these vehicles a wide range of the growth phases of the companies is covered, from the seed phase linked to the transfer of knowledge from research organizations to early stages of startup, growth and consolidation of start ups. The new investment vehicle is about meeting the needs of SMEs and micaps consolidated and with expansion plans mainly at international level.
