Axon Partners €10M Fund for Andalusian Startups

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BY : Diego GutiérrezMarch Wed, 2014
venture capitalAxon Partners Group, international company of investmentshas launched a fund The ICT II Fund is a new fund to invest in early stage Spanish companies in the digital economy sector in Andalusia. The ICT II Fund has approximately €10 million in assets, which come from private investors and the initiative Jeremie (European Investment Fund) in Andalusia, managed by the Innovation and Development Agency of Andalusia (IDEA), body attached to the Regional Ministry of Economy, Innovation, Science and Employment.


AXON a reference in Spanish venture capital

AXON was one of the 4 venture capital firms that signed financial intermediation services contracts with the Andalusian innovation agency in November 2013, winning the tender for the Community Initiative in October. JEREMIE. The winning fund managers were four well-known venture capital firms in Spain: Avindia, Axon, Alta Partners Gedsur.

The fund will take advantage of the great opportunity that Andalusia presents for the development of innovative projects, thanks to the large amount of existing talent and the low costs for the establishment of companies. In addition, teams from outside Andalusia will be encouraged to set up in the autonomous region to take advantage of the potential it has for launching new projects.

AXON internationalised Spanish venture capital

AXON raised a fund aimed at Indian technology companies and as a first operation they have entered with €5M in Just Eat is probably Europe's leading online food delivery website and is making a strong commitment to opening up new markets such as in this case Asia, as it has done previously in America. Just Eat India started its activity in 2011 and since then has experienced steady growth, with more than 2,300 restaurants subscribed to its service in cities such as Bangalore, Delhi and Mumbai. It plans to continue this growth by consolidating in other key cities across the country.

Axon Partners Group, Telefónica and the Spanish Agency for International Development Cooperation presented the project in May 2013. Amerigo Ventures Colombiathe first private equity fund specialising in invest in innovative companies in the digital economy that are in early stages of development or are in the process of regional expansion in Latin America. In addition to the aforementioned entities, this investment fund has other investors such as Bancóldex (Banco de Desarrollo Empresarial Colombiano) and Brightstar.

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If you want to know more or if you think we can help you, do not hesitate to contact us. 

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