Banesto and SEPI launch E20m fund

The Spanish bank Banesto and the Sociedad Estatal de Participaciones Industriales (SEPI) have launched a private equity fund called SEPI Desarrollo FCR. The fund has a total committed capital of E20m, E10m of which was committed by Banesto and the remaining E10m by SEPI Desarrollo Empresarial SA, an affiliate of SEPI. The fund will invest in PYMES (small- to medium-sized companies), in particular those initiatives that create jobs, modernise or internationalise small Spanish companies, and those that contribute to the development of local industry, particularly in areas where private equity activity is scarce. The fund will begin investing straight away and will focus on those small-to-medium sized enterprises that it considers have strong growth potential and will benefit from further funding.

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• Topics
• Southern Europe