Fondico opens its fifth call for proposals
FOND-ICO Global, managed by AXISThe European Venture Capital Fund, launched last week the fifth call for the selection of Venture Capital funds. On this occasion, a total of six funds will be selected in three categories: expansion capital, venture capital is and incubation.
FOND-ICO Global will invest €154M in this call, which is expected to mobilise around €2500M for projects in Spain.
As the ICO explained in a press release, the deadline for submitting bids is 18 September.
Engie creates €100M venture capital fund
Engie (formerly GDF Suez), has launched a €100M venture capital fund aimed at financing energy startups already operating in Europe, the United States, Israel and Asia, mainly, which will receive between €1 and €5M.
The vehicle was presented by Loreto Ordóñez, CEO of GDF Suez Energía España, at the Innovation Forum organised by Deusto Business School. The fund already has 6 projects underway.
Engie explains that they have reoriented their strategy to lead the energy transition in Europe. "The global landscape is in full transformation, practically every day there is new energy news on the table: shale gas, fracking, batteries, CO2 emissions, renewables...", said Ordónez.
Three former senior officials of the renewable energy company Fersa have decided to create a venture capital company, based in Barcelona, which will invest in wind farms already in operation. The firm will focus on the Spanish market and will also buy, to a lesser extent, mini-hydro plants.
To develop its activity, the investment vehicle says it already has €12M, resources provided by family office and investors from Madrid and Barcelona, although some business group, whose identity has not been disclosed, has also entered the project. Within three years, the fund aims to raise its capital to €35 million if it manages to execute in that period all planned investments and exhausts the money now available.
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