Target funds

Fond-ICO Pyme invests in the following initiatives:

• Business Angels Initiative

It provides capital to Business Angels and other non-institutional investors with the aim of financing innovative companies through co-investments. The main promoters of this initiative are the European Investment Fund and Axis, with the European Investment Fund (EIF) managing the initiative.

The European Angels Fund ("EAF") I and II, endowed with 30 and 40 million euros respectively, represent the Spanish sub-fund of a pan-European initiative that aims to promote and support international collaboration between Business Angels and Family Offices, helping these non-institutional investors to become a real capital alternative for innovative entrepreneurs and companies. At its full scale, the EAF will cover several countries or regions on a pan-European level.

The fund works together with Business Angels to expand their investment capacity in Spain by co-investing with them in companies in seed, early stage or expansion phases. The work of the "EAF" seeks to adapt to the investment style of each Business Angel by not interfering in the decision-making process or in the management of investments.

• Sustainability and Social Impact Initiative:

With an endowment of 100 million euros, its objective is to develop and invest in funds that invest in turn in companies developing projects in different sectors that have a significant social and/or sustainability impact.

Critical sectors for impact investment include health, wellbeing, environmental sustainability, education, social innovation, ecological transition, social inclusion and others.

It will invest up to 49% of the Fund's size with a target average ticket of 5 million euros and is open to co-investment with other leading institutional investors in this area of investment.

• Diversified Debt Initiative:

Endowed with 50 million euros, it seeks to ensure that a large number of Spanish SMEs can access new sources of financing alternative to bank financing, quickly and efficiently, thus promoting the development of the business fabric, technological development and job creation in Spain.

It will invest up to 30% of the size of the fund with a maximum target of 15 million euros. These funds may finance companies either alone or as a co-investment with other investors or crowdlending/crowdfunding platforms.

• COVID-19 Entrepreneurial Ecosystem Initiative:

As a consequence of the COVID-19 crisis, many start-ups, which would previously have received funds from a professional investor and focus mainly on digital and innovative business models with high growth potential, are facing temporary liquidity problems, which could lead to the demise of many of them in the medium term.

With an endowment of 50 million euros, and in an attempt to partly bridge this temporary lack of financing and support these early-stage companies and others in the venture capital ecosystem, Axis has developed this initiative to invest in funds that provide priority financing to SMEs and technology companies in Spain that are experiencing temporary liquidity difficulties.

It will invest up to 49% of the size of the fund with a maximum target of 25 million euros.

• Other general funds:

The first investments in general venture capital/private equity funds were made by FOND-ICOpyme until 2013. Currently this activity is carried out through FOND-ICO Global.