Although the initial idea was to launch a 'fund fund' such as the Global Fund but specialized in technology venture capital and for very advanced phases of companies, since 2022 Next Tech has also been investing directly in companies “that have the potential to generate cash flows and that have viable start-up, growth and expansion projects”.
Among the companies already financed by the Next Tech fund, founded in 2021 after the pandemic, are scale-ups such as Cabify (20M€), Wallapop (20M€) or Paack (10M€).
Total budget
4,000 million euros.
Objective
Channel investments, through other funds or directly into companies. Direct Investment in Companies is always carried out in terms of co-investment, guaranteeing public-private collaboration.
Amount
The reference investment amount of Fond-ICO Next Tech in direct investments or co-investments will be between 5 and 20 million euros. In cases where the company's activity is supported by the development of significant technologies in sectors where technology transfer has a decisive specific weight, ICO may consider investments in amounts lower or higher than those previously established.
Investment Criteria
- Fond-ICO Next Tech will invest in Spanish companies and is committed to remaining in Spain for years in which the Fund has not closed its position in the company.
- Fond-ICO Next Tech cannot be the largest participant in the investment, and it will therefore be required that there be at least one investor with a higher share, who must provide:
- Negotiated divestment mechanisms at the time of investment.
- Periodic monitoring information (including Audited Annual Accounts), as well as representation of AXIS in the management bodies associated with such investment.
- Biannual valuation reports to be submitted to the Investment Committee Advisor
- The fund will allocate the investment to companies whose fundamental technological support is found in the digital and artificial intelligence sectors, including:
- Digital Technologies: artificial intelligence, massive data processing technology, machine learning - machine learning, cybersecurity and edge computing.
- Connection Technologies: algorithms, Internet of Things, high-performance computing, cloud computing, robotics, natural language processing, biometrics and digital identity, blockchain technology.
- Scientific Technologies: nanotechnology, new materials, quantum computing, medical devices, biotechnology, micro and nanotechnology, photonics and food tech.
- In addition, it will be possible to invest in those companies that, being focused on other prominent technological areas, have very close connections with digital technologies and artificial intelligence tools.
