Andalucía gives priority to private equity

The regional government of Andalucía has announced changes to the development agency Instituto de Fomento de Andalucía (IFA) which include the creation of the company Invercaria. The main role of this new organisation will be to focus on private equity as a form of development funding. Invercaria will set up new private equity funds, invest in exisiting funds and provide financial support and backing for start-up projects in Andalucía. It is currently in the process of forming a seed fund and has a budget of E11.5m for 2005.

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• Southern Europe