Faced with the lack of bank credit, the entrepreneurs themselves and their associations are promoting new funds to circulate the existing liquidity among the entrepreneurs themselves. Lleida, Andalusia and Castile are examples of this.
Globalleida: entrepreneurs with Lleida origins
GlobaLleida is an inter-institutional consortium in the province of Lleida that presented last week (28/01/2014) a fund of private equity for invest in companies and entrepreneurs who carry out their professional activity in the counties of Lleida.
The aim of the presentation, which took place in the Hotel Majestic of Barcelona, was to solicit participation in the fund from 20 entrepreneurs who have a personal or family link to Lleida but live in Barcelona. Among those invited to the event were representatives of companies such as Natural Gas, Comsa Emte, Mediapro, Panrico, Resa, Harley Davidson and FC Barcelonaamong others, and institutions such as the Economy Circle, Labour Promotion and Pimec.
Between €1M and €1.5M is what its promoters, represented by the president of the Ros Roca group, Ramon Roca, the president of the Diputació de Lleida, Joan Reñé, and the mayor of the capital of the Ponent, Àngel Ros, expect to get for this fund. The intention is to promote companies in the technology, phytosanitary and agricultural industry sectors. The president of Repsol and GlobaLleidaAntonio Brufau, a native of Mollerussa (Pla d'Urgell), gave the opening speech.
Al Andalus: Andalusian businessmen investing in Andalusia
Andalusian entrepreneurs investing in Andalusia. This is the philosophy of Al Andalus Capital, a new venture capital fund. private equity managed by High Capital and has an initial endowment of €10.5M. The fund's investors are Andalusian entrepreneurs and managers who believe in the potential of Andalusian companies,' says Mariano Muñoz, managing partner of the consultancy firm. ETEO and representative of the four investors in Al Andalus.
They are mainly looking for companies with export capacity, firms with business succession problems or with a specific problem of working capital. Al Andalus also looks for Andalusian SMEs, with solid growth plans, a good management team and the company must be consolidated because we do not enter in the early stages. Al Andalus is not seed capital, nor does it do refinancing'. However, the real estate and financial sectors are ruled out because legal regulations prevent it.
Castilla León: a partnership of investors with local links
The association of investment private sector promoted by entrepreneurs Alentia Alternative Capital started in October 2013 with 71 founding partners from Castilla y León, Asturias, Galicia, Catalonia and Madrid, with an investment capacity of €7M. Alentia is not a venture capital company, so there is no fund to manage. The partners will provide the funds at the time when, once the investment operations have been analysed and presented, they decide individually and freely whether or not to participate in the project. investment.
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