ICF Capital Expansion II will be the continuation of the previous vehicle and will follow the same investment strategy. They will focus on companies with a turnover of more than 10 million euros and with an industrial focus, although companies with a more generalist approach may also be eligible. This vehicle will have 50 million euros (30 more than the previous one) and the ticket per operation will range from 1 to 5 million for growing projects. The investments of the Kompositos companies and that of the Tres Torres Ophthalmological Institute stand out. As for the second vehicle, it will be a continuation of the previous one, but it will focus on Venture Capital, more specifically on startups focused on the ICT sector. This aid will be worth 20 million (10 more than the previous one), the ticket per operation will be around 500,000 and 1.5 million euros. Investments in the startups VozTelecom and Science Bits stand out. According to the report Economic and Social Impact of Private Capital in “Middle Market” operations in Spain by the employers of the sector (Ascri), it is said that between 2000 and 2017, private capital invested around 44,000 million in more than 7,500 companies, which had a positive impact on employment, turnover and operating income (EBITDA). This report shows that companies owned by funds created 27,000 total jobs compared to the 2,000 that were destroyed in non- participatory. The sales volume of the 186 companies grew at an average of 8% per year and their EBITDA at 7% per year, compared to the evolution of the control group: sales (0.8%) and EBITDA (-6.4%).
What is ICF?
ICF stands for the Catalan Institute of Finance, a public financial institution under the Government of Catalonia. Its main mission is to promote and facilitate access to funding for the business fabric of Catalonia, with the objective of contributing to the growth of the Catalan economy, acting as a complement to the private finance sector of Startups.ICF finances Catalan startups and entrepreneurs, accompanying their development and growth, generating value that has an impact on the whole of society.
