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Inveready creates a technological fund with executives from Silicon Valley

By 11 de October de 2010November 18th, 2020No Comments
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Inveready creates a technological fund with executives from Silicon Valley

Inveready – based at the Barcelona Science park– has just created a fund specialised in technological companies with the added value that executives who have worked or currently work at Silicon Valley (California), the world's leading hub for projects and research in high technology, will be given the opportunity to become shareholders in the new investment vehicle. The fund, called Inveready First Capital I, is led by Ignasi Fonts, former world vice-president of the multinational firm Hewlett-Packard (HP), who joined the Inveready group last March.

In addition to Ignasi Fonts, the managing team of the new fund consists of Josep Maria Echarri, current deputy councilor of Inveready Seed Capital SCR (ISC) and president of Inveready Capital Company; Roger Piqué, director of investments at ISC; and Javier Avellaneda, director of Operations at the ISC. Its promotors are expecting to perform approximately 20 investments in start ups, recently established technology-based companies, in 3 years, which will contribute to the creation of 400 jobs in 5 years.

The differentiating trait of being able to have the support of partners based at Silicon Valley and the east coast of the United States is a characteristic that will contribute to the internationalization of companies in a more feasible way. According to Ignasi Fonts, deputy councilor of the Firm, “these differentiating qualities endow Inveready First Capital with a unique capacity in the Spanish market to filter those projects that are most well-prepared to compete in international markets and help them settle into the new target markets as soon as possible”.

Inveready First Capital I will have 5 million euros to use to buy shares in Spanish technological firms, mainly in Catalonia and Madrid, that focus their activity on software, Internet, i-health (technology applied to health) or smart energy (technology for energy saving), and other businesses. The products offered by candidate companies will have to be easily internationalized –”designed from the very beginning to be sold worldwide”, explains Fonts –and have the capacity to be commercialised fairly quickly. Inveready First Capital I has been constituted as public limited company, but its promoters intend to transform it into a venture capital firm. The group also plans to create a venture capital managing firm in the near future.

The Inveready Group is a group of companies specialising in consulting and investment in newly created technology-based companies (startups). It is an exception within the venture capital sector, both for its focus on ICT companies in early stages, and for its business model which has already proven to be very appealing to investors and entrepreneurs. In fact, in its 3 years of operation its first venture capital firm, Inveready Seed SCR, has managed to make 14 investments valued at 4 million euros. One of the key aspects of its business has been the integration of public grants in the structure of operations in order to reduce the quantities invested.