We analyse the new funds created in Spain in July 2018. In this case, we look at the Basque Government's new economic model, the expansion of Oquendo Capital's strategy and Seaya Ventures' new fund.<\/p>\n
We analyse the new funds created in Spain in July 2018. In this case, we look at the Basque Government's new economic model, the expansion of Oquendo Capital's strategy and Seaya Ventures' new fund.<\/p>\n
El lehendakari, I\u00f1igo Urkullu acompa\u00f1ado de los consejeros de Hacienda ha presentado este lunes el nuevo modelo de pol\u00edtica financiera del Gobierno Vasco que, siempre con la protecci\u00f3n y el impulso a las empresas como ‘leit motiv’, renueva los instrumentos existentes hasta ahora y crea dos figuras nuevas.<\/p>\n
This is a public-private venture capital fund, endowed with 125 million but which aspires to raise up to 250 million, which will be used to support Basque companies in their development or internationalisation projects. In addition to this, there will be an injection of 100 million in Socade, the public Basque Development Capital company, which with these funds will enter into the capital of large Basque tractor companies (as was already done with 1.24% from CAF) with roots as the main premise.<\/p>\n
El nuevo fondo de capital riesgo -que est\u00e1 previsto funcione a pleno rendimiento en 2019- tiene como socios iniciales, junto al Gobierno, a las Diputaciones, a Kutxabank, Bankoa, Mondragon Corporaci\u00f3n, Lagun Aro e Itzarri. El resto del ‘n\u00facleo duro’ de accionistas de esa f\u00f3rmula, que ya han mostrado su inter\u00e9s por participar, conformado por Banco Sabadell, Banco Santander, BBVA, entre otros.<\/p>\n
The members of this new venture capital fund will be able to make contributions of between \u20ac2 million and \u20ac10 million. The vehicle will support companies with a turnover between \u20ac50 million and \u20ac250 million and an EBITDA of more than \u20ac10 million.<\/p>\n
Among the new features of this reorganisation of the Basque Government's financial instruments is the creation of a Forum for Financing and Business Participation, which will serve as a framework for coordination and debate on financing and for the search for synergies with other investors in company participations.<\/p>\n
Spain's oldest alternative finance firm has decided to expand its lending strategy and add senior debt to its corporate lending offering. It will do so through the loan fund it is raising, which aims to raise a maximum of \u20ac150 million.<\/p>\n
This vehicle will be the fourth of the Spanish private debt fund manager led by Alfonso Erhardt and Daniel Herrero, but the first of this new senior lending strategy. The three previous vehicles, totalling 407 million, are intended to provide subordinated loans. Oquendo Capital<\/a>is one of the most active companies in Spain in this sector. In fact, its third mezzanine debt fund is invested in more than 60% and the fund manager is already looking ahead to 2019 for the fourth vehicle of this type, which will be the largest raised so far with an amount of around 300 million.<\/p>\n Like all Oquendo vehicles to date, the new fund is aimed at medium-sized companies, those with an ebitda between 10 and 20 million. In terms of yield, the senior debt will offer a 5%.<\/p>\n Oquendo already has commitments from investors for its new fund and one of them is the government, which is receiving 20 million from the fund. With this injection, the aim is to close the first fund by the end of this year.<\/p>\n<\/span>Seaya Ventures<\/span><\/h2>\n