Fond-ICO commits €71m to four GPs

The state-backed fund-of-funds committed €55m to the two PE funds and €16m to the venture capital funds.

Meridia is a Barcelona-based GP that launched its maiden private equity vehicle with a €125m target in March 2016. The fund focuses on Spanish SMEs generating revenues in the €15-100m bracket.

Charme recently opened an office in Madrid and hired Francisco Churtichaga as a partner and Valero Domingo as a principal to bolster its activity in the country.

According to press reports, Fond-ICO expects the four GPs to invest a total of €280m in the Spanish economy. The fund-of-funds reportedly received 13 requests from Spanish GPs and another six requests from GPs based farther afield. Fond-ICO is expected to announce further commitments in Q3 2016.

Fond-ICO manages €1.5bn and at the time of publication had committed a total of €947m to 39 GPs.

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• Topics
• LPs
• Southern Europe
• Spain
• Axis Participaciones Empresariales