Government allies with venture capital for SME financing

Integral service around a transaction
BY : Diego GutiérrezApril Tue, 2013

Last March, the ICO announced in a communiqué the creation of the GLOBAL ECONOMIC FUNDThe first public "fund of funds" created in Spain with €1.2 billion. Its objective is to provide SMEs with alternative financing to bank financing, through venture capital. These funds will be privately managed, through public tenders, and will invest in business projects at all stages of development, from seed to international expansion.

Other executive measures to facilitate financing

"The executive has taken a series of measures aimed at supporting the growth of SMEs, to which the FOND ICO GLOBAL is added, we would highlight the following:

- the creation of the Isabel La Católica fund together with the European Investment Fund, for co-investment with accredited Business Angels. To our knowledge, there is still no accredited BA and it is a very slow process.

- Allow pension schemes and insurers to increase their exposure to private equity investment.

- facilitate the creation of an SME-specific market for commercial paper and bonds.

- Tax incentives for investment in company shares". According to Diego Gutierrez Zarza, an expert in alternative financing for SMEs, (CEO of ABRA INVEST)

Private initiative leads the way

During 2012, according to statistics published by ASCRI, Venture Capital, despite investing 22.5% less, has balanced its investment towards SMEs in growth and with an innovative component, the start of a trend that should be consolidated in 2013.

"In addition, there have been initiatives from mainly private funds such as Banca Marcha and Oquendo capital, with the aim of investing and financing the growth of SMEs," says Diego Gutierrez. "We are also seeing a slow but growing interest from private investors with business experience to invest directly in corporate equity.

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