Ex-Spark Inversiones team sets up Milenio Capital Partners

It has been reported that senior executives of Spark Inversiones, a joint venture between early-stage investor New Media Spark and entrepreneur Kiriako Vergos, have left the firm to start a new early-stage fund, which will target university and research centre spin-offs. The newly formed management company, Milenio Capital Partners, plans to raise an Eur80m fund. The new vehicle will focus on opportunities in the biotechnology, genomics, nanotechnology, proteomics, regenerative medicine, renewable energy, telecommunications, IT, internet and new media sectors. According to press reports, Milenio has received a cornerstone investment from the European Investment Bank, which has acquired a 33.3% equity stake, making it the fund’s largest shareholder. It is thought that Milenio Capital Partners will look to raise funds from Spanish institutions in the first instance, and will approach large family businesses with investment trusts in Switzerland, Germany and Scandinavia after the first close, targeting international funds-of-funds last. According to published sources, Milenio Capital Partners has signed agreements with institutions in Galicia, Catalonia, Madrid, Bilbao and Malaga.

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