Axon Partners launches new fund

ICT Fund II will focus on Spanish companies, with a special interest in Andalucía.

According to unquote" data, Axon's previous fund backed companies in the digital sector including Wuaki.tv, a Spanish video-on-demand service provider that raised €2m in 2011; Akamon Entertainment, a social gaming firm that raised €2.8m from Axon and Bonsai Venture Capital in 2013; and Barcelona-based online video platform provider NicePeopleatWork, which raised €1m from the VC in 2012.

Investments
ICT Fund II will back early-stage companies focusing on information and communications technology (ICT) and the digital technologies.

Investors
ICT Fund II currently holds around €10m. Commitments are understood to include a €3.2m injection from the Joint European Resources for Micro to Medium Enterprises (Jeremie) facility for Andalucía. Jeremie is a partnership between the European Commission, the European Investment Bank and the European Investment Fund.  Private investors provided the remaining commitments.

People
Francisco Velázquez is president of Axon.

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