Venture capital recovery in Spain in the first quarter of 2014

27/05/2014
Diego Gutiérrez
Venture capital recovery in Spain in the first quarter of 2014
Venture capital once again placed its trust in Spain in the first half of 2014, doubling investments from €310M in the first quarter of 2013 to €618M. This increase in investments has been due to the average increase in the amount of each deal, as the number of deals has remained practically the same, at around 100.

The causes of recovery: New venture capital funds

Among the reasons for the recovery have been the creation of new funds and the increase of funding to SMEs by banks such as Bankia, which will allocate 15,000 million to finance companies.
The increase in public money has allowed significant funds to be raised in the sector. Corpfin, Diana Capital and Suma were three of the firms that benefited from Fondico's capital injection in December (€189 million public funds) and have managed to raise new funds. investment vehicles of a combined size of 689 million.

"Today, Tuesday 27 May, Fond-ico presents the results of the second call of Fondico, through which 8 fund managers will benefit from a new injection" says Diego Gutierrez, expert in alternative financing of the group. Abra-Invest.

Main operations closed in the sector

Major investments in the first half of 2014 include the purchase of the 49%  Port Aventura for Kkr200M, the purchase of the 10% from Desigual  for Eurazeo  for €285M, The sale of the 60% from Rotor from  Proa Capital 10M and The sale of Pullmantur's four non-cruise tourism businesses to a Swiss fund.  Springwater.

All these investments show us that the investors According to Carlos Carbó, founding partner of the company, the international Nazca Capital, existe la creencia de que en España «tenemos buenos precios y grandes rentabilidades»

Venture capital in the US

In the USA in the first half of 2014, the amount invested by the private equity, from 547 transactions totalling M83$ in the first quarter of 2013 to 589 transactions totalling M108$ in 2014.

According to PitchBook, Among the trends in venture capital in the US, we can highlight that the capital invested in medium rounds of between 100M and 500M has grown considerably, while the weight of large operations of more than $1B is decreasing.

In addition, the weight of capital increases has been growing over the last few years, and in the first half of 2014 they accounted for 59% of the total number of purchase.

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