Next Tech Fund

18/07/2021

To offer Spanish companies an instrument of sufficient size to finance the investments that will allow them to scale up their operations and grow.

Attract talent and innovative foreign companies to Spain for the development of their activities in the digitization sector.

Attract foreign venture capital funds and other investors to Spanish companies.

To encourage the permanence of Spanish companies and the development of their activities in Spain by offering attractive and competitive sources of financing compared to financing options abroad.

To develop the private equity sector in Spain, encouraging Spanish funds to participate in more larger operations.

Next Tech Fund is a joint initiative of the Official Credit Institute and the Secretary of State for Digitalization and Artificial Intelligence, included in the National Plan for Recovery, Transformation and Resilience, which was born with the aim of promoting the development of innovative high-impact digital projects and investment in growth companies (scale-ups) through the reinforcement of public financing instruments, the attraction of international funds and the empowerment of the venture capital sector.

The promotion of entrepreneurship and the scalability of projects in new digitization technologies is essential to promote the recovery and transformation of the Spanish production model, providing it with higher levels of competitiveness and capacity to generate employment.

The fund was created with the aim of mobilizing up to 4,000 million euros in private public collaboration with the Spanish venture capital sector by taking shares and signing commitments in companies/funds specialized primarily in the following digital and artificial intelligence sectors:

Objectives

Who are you targeting?

How does Fond-ICO Nex Tech work?

Next Tech Fund is constituted as a fund of funds, so it invests mainly in funds or vehicles that in turn invest mostly in Spanish companies operating in the target technological sectors and in scale-up sizes, investments between venture capital and expansion capital.

The funds/vehicles in which Next Tech Fund invests must have a majority of private capital and be managed by private managers with presence and investment experience in Spain. The volume of capital invested by Next Tech Fund in each of the funds involved will be 100 million euros per fund or vehicle, reaching a maximum of 49% of the fund’s target size.

Next Tech Fund can also carry out direct co-investment in scale ups, with a minimum size of 5 million euros and a maximum of 20 million euros under a public-private partnership scheme. It will therefore be necessary for there to always be a professional co-investor who invests under the same conditions as Fondo Next Tech.