FOnd-ICO Global and its impact on the future of venture capital

Integral service around a transaction
BY : Diego GutiérrezJanuary Tue, 2014
venture capital isThere have been recent reports on venture capital and private equity activity. venture capital is in 2013. The numbers are not good: a 31% drop in volume and a 15% drop in the number of transactions. Will it manage to Fond-ICO Global increase these figures in 2014 and beyond?


What is Fond-ICO Global?

According to the Entity itself, Fond-ICO Global, registered in the CNMV since 24 May 2013, it is the first public "Fund of Funds" in the world. private equity 1.2 billion, with the aim of promoting the creation of privately managed venture capital funds that invest in Spanish companies at all stages of their development. This Fund of Funds will be the catalyst for the creation of more than 40 new private venture capital funds, mobilising a total of approximately €3,000M.

Future impact on the growth of venture capital

"The ICO is not the majority investor, but requires private investors to provide the remaining 60-70% of each fund. Therefore, in the first call closed at the end of 2013, a total of €685M was attracted, a very significant figure if we bear in mind that the private equity The domestic market mobilised €403M in 2011 and €448M in 2012. This suggests that the volume of the coming years will significantly increase the figures of the previous sector", analyses Diego Gutierrez of Abra Invest.

A first call with €189M in Dec-13 and a next call in February 2014.

In this first call, 23 bids were submitted, 11 venture capital and 12 expansion capital, for a total amount of €581M. Three venture capital funds have been selected: Adara Ventures Partners IIAmbar Capital and Expansion and Suma Capital, and three others for expansion capital : Corpfin Capital AdvisorsDiana Capital Portobelo Capital Management.
Expansion funds have been allocated €150m, while the total amount allocated to Venture Capital is €39m.
For the second call, scheduled for 21 February 2014, the ICO will maintain the investment scope of the first call. The president of the ICO has insisted that the selection process will be carried out through regular calls following the principles of publicity, competition, equality and transparency.

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