Cantabria Capital sets up new €12m fund

Cantabria Capital has set up a new private equity fund, in co-operation with Grupo Santander and the regional development group Sodercan (Sociedad para el Desarrollo Regional de Cantabria). The new fund, Cantabria Expansión, will have an initial capital of €12.02m, jointly provided by the two firms. Cantabria Capital is 50%-owned by Santander Central Hispano, with the Gobierno de Cantabria and Caja Cantabra each holding a 20% stake, and CEOE-CEPYME Cantabria controlling the remaining 10% stake. The fund will take stakes in non-financial companies at the start-up or expansion phases, with the potential for high growth. Although it will focus primarily on investments in Cantabria-based companies, the fund may invest anywhere in Spain, or indeed outside of Spain.

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