SPAIN - Erkapen launches with EUR 400m fund

The promoters plan to commit EUR 100m. 40% of the capital will be provided by the saving banks, 40% by the Basque and local governments with the remaining 20% initially reserved to new investors; progressively disbursing funds until the EUR 400m target is reached.

According to reports, the fund will invest between EUR 10m to EUR 40m per project with an average ticket of EUR 20m depending on the target company size. It will aim to get significant minority positions with decision-making rights.

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• Southern Europe