Spain's CDTI to launch two venture vehicles

The first vehicle, Innvierte Economía Sostenible Conversión, has a target of €80m, half of which has already been allocated. The second, Innvierte Economía Sostenible, contains €70m, €35m of which is already allocated. One fund will act as a fund-of-funds, while the other will seek co-investment opportunities.

CDTI will acquire minority stakes of up to 30%, and is formalising agreements with large Spanish firms such as Telefónica and CaixaBank to provide both capital and expertise for target portfolio companies.

CDTI intends to support the development and consolidation of innovative Spanish technology companies with high growth potential by raising €350–450m in the next six years.

The public investor had already launched a €500m fund in late 2010 to back Spanish technology businesses.

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• Topics
• Southern Europe
• Venture
• Spain