Inveready increases its investment fund of over 15 million euros.
Inveready Seed Capital, a risk capital firm based at the Barcelona Science Park specializing in investing in newly created Spanish technology companies, has now successfully completed a €13,000,000 capital expansion. The finance round, initiated by Inveready in July, is underwritten by a collection of Family Offices and private Spanish and foreign investors and carries an increase in its investment fund of over 15 million euros.
With this operation, Inveready will have more than 50 shareholders, an important one being the firm own team of directors, headed by its delegate councilor, Josep Maria Echarri who, with close to 7% of the capital, is the firm’s first private member. Caixa Laietana and different important Spanish Family Offices hold shares that oscillate around 5% of the capital. Other shareholders include private investors specialized in investing in technology companies linked to prestigious business schools in Spain.
Also participating in the capital expansion were different public institutions specializing in the financing of technology companies. Concretely, shares are now held by: ACC1Ó (Generalitat of Catalonia), ENISA (Ministry of Industry) and SODENA (Government of Navarra). In all, the public institutions hold one-third of the capital.
At present Inveready participates with close to 30% in the biomedical firm Aleria Biodevices. Additionally, Inveready’s Board has agreed to buy a minority but important share in a digital mammography company and in a company specializing in processes of protein and peptide production for pharmaceutical use. In the current fiscal year, the firm foresees closing deals on between 8 and 10 new operations.
The society intends to create a large portfolio of shareholding companies—between 30 and 40 investments over the course of four years—based on investments of between 100,000 and 500,000 euros in technology firms in their initial expansion phase. Inveready will center its activity on the so-called “seed capital” segment, an area which, as has been shown in the United States, offers a potential profit clearly above the rest of risk capital investment options.
Their aim is to invest in sectors of high potential growth, such as biotechnology, medical equipment, nanotechnology, renewable energies, and advanced software, and to assure themselves of holding a highly diversified portfolio vis-à-vis advantages associated with this in terms of risk reduction. The society is interested in shares in companies located anywhere in Spanish territory.