Abac launches venture fund to invest in Spanish start-ups

The vehicle, named Abac Nest and created in partnership with Rubén Bonet, co-founder and president of Spanish technology company Fractus, will be investing between €50,000-100,000 per round and up to €200,000 in later-stage rounds.

The Catalan buyout firm held a €320m final close in 2016 for its maiden vehicle Abac Solutions I, a vehicle focusing on Spanish mid-cap businesses. The Spanish GP was founded in 2014 by a number of former Apax Partners employees. According to press reports at the time, the vehicle achieved the largest final closing for a maiden fund in southern Europe since the 2008 crisis.

In January, Abac Capital wholly acquired Heineken's Casual Beer & Food Grupo de Restauración division via a management buyout, in a deal that valued the company at approximately €10m, according to Unquote sister publication Mergermarket.

Investors
Investors include family offices, angel investors and other venture capital funds.

Investments 
The fund will invest in early-stage technology companies based in Spain but focused on expanding and growing globally. Abac Nest will also target startups operating in more traditional sectors but with an innovative strategy and business model.

Abac Nest's portfolio already comprises two technology companies: Devicare, which specialises in providing services for the home care of chronic patients, and Mr Noow, an app to order food and pay in restaurants through a mobile phone.

People 
Abac Capital – Oriol Pinya (founding partner, CEO); Borja Martínez de la Rosa, Javier Rigau (founding partners). 

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