The Catalan Institute of Finance (ICF) will invest 12 million to promote the creation, development and growth of Startups in Catalonia.
Through its subsidiary IFEM, Financial Instruments for Innovative Companies, ICF will contribute 6 million to Seed capital funds that will invest in newly created companies or that are in the expansion phase, while the other 6 million will be invested directly in emerging startups through participatory loans that will be around 50,000 to 200,000 euros.ICF will give investment priority to those companies that present more innovative proposals with great growth potential, being able to coexist these contributions with others from private investors and, allowing companies to diversify and number of sources of fundraising. The requirements that companies that want to obtain financing from ICF must meet are the provision of a minimum of 5 million of private capital and the scope of a minimum volume of committed capital of 15 million euros, including the possible participation of ICF.Since 2010, ICF has been investing a total of 8 million euros in 10 Seed capital funds in Catalonia. These funds, held by ICF and other private investors, have disbursed 38.4 million euros in 88 Catalan startups.On the other hand, since 2012, the ICF has invested a total of 9.7 million in 63 Catalan startups through participatory loans, of which 2.25 were provided during 2016 to companies in which Intelectium has participated in advising and designing funding strategies, such as 21 Buttons or My Story.Source: Catalan Institute of Finance (ICF)
