N+1 and Mercapital merge
Spanish venture capital firms N+1 Private Equity and Mercapital have merged to form N+1 Mercapital. The new investment firm will manage €1.7bn, making it the largest in Spain.
N+1 Mercapital will back medium-sized Spanish businesses looking to expand on an international level, particularly in Latin America.
The merger will complete in 2013, following regulatory and commercial compliance tests, when the firm will begin fundraising. Until then, N+1 and Mercapital will continue to manage their portfolios separately.
The N+1 Mercapital portfolio will include 26 companies with aggregate revenues of more than €3.8bn.
N+1 vice chairman Jorge Mataix and Mercapital chairman Javier Loizaga will co-chair N+1 Mercapital, with the latter undertaking the role of CEO.
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