CDTI launches €400-600m private equity vehicle
Spain's government-backed Centre for the Development of Industrial Technology (CDTI) has launched a €400–600m private equity fund.
The announcement comes around three years after CDTI launched its Innvierte venture capital funds. Innvierte consists of two vehicles; one acting as a fund-of-funds and the other a co-investment fund.
The new vehicle aims to boost employment within the country and increase the international competitiveness of Spanish companies.
Last year, CDTI joined Caixa Capital Risc and oil and gas firm Repsol in a €2m funding round for Barcelona-based electric scooter company Scutum.
Investors
CDTI will itself commit €100m to the fund, with the remainder to be raised from third parties.
Investments
The new vehicle will focus on growth capital investments in medium-sized Spanish businesses. It will target companies operating in the chemical, pharmaceutical, electronics, ICT, biotechnology, agriculture, energy and transport sectors.
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