With this public investment, SETT contributes to the development of a fund specialized in promoting the first phases of European start-ups and scale-ups, mainly Spanish, whose activities are based on disruptive or cutting-edge technologies.
The investment is made through the Next Tech fund, whose objective is to encourage private investment and improve access to financing in the strategic Spanish sectors linked to digital transformation, within the framework of the Recovery, Transformation and Resilience Plan
The Council of Ministers has authorized the Ministry for Digital Transformation and the Public Service, through the Spanish Society for Technological Transformation (SETT), to participate, with 20 million euros, in the F.F.C.R. fund. Armilar Venture Partners IV, specialized in investments in artificial intelligence, management software, data management, digitalization, medtech and connectivity.
With this public investment, SETT contributes to the development of a fund specialized in promoting the first phases of European start-ups and scale-ups, especially Spanish, whose activities are based on disruptive or cutting-edge technologies. These companies stand out for their potential to generate economic development, social progress and contribute to the acceleration of the digital transition in Spain.
The management company, Armilar Venture Partners, established in 2000, is at the forefront in the field of risk capital, focused on promoting innovative companies specialized in the Internet, software, semiconductors, advanced cloud computing platforms, AI, cybersecurity, digitization of industries, sustainability and climate, as well as patient monitoring in the health field, to name a few examples.
This operation aims to promote the development of highly scalable Spanish companies, with international projection and growth capacity, in addition to dynamizing and offering liquidity to the technological market creating a competitive environment in the country.
The management company has a solid trajectory of more than 25 years, having made more than seventy investments in nine countries, completing 13 outings (start-ups or companies where investors recover their money and/or have profits), two unicorns (start-ups valued at $1 billion or more without having been listed) and three dragons (investors recover the fund or obtain profits that compensate the investment).
Together with the SETT, which contributes 16.6% of the investment in the framework of a public-private partnership model, the company’s fund will expand its capital with other prestigious actors such as the European Investment Fund (EIF), which will contribute 40 million euros. The majority participation of the EIF is an endorsement of the international credibility of this fund, as well as an acknowledgement of its record of profitability and its knowledge of the European technological ecosystem.
SETT’s investment is made through the Next Tech fund, whose objective is to encourage private investment and improve access to financing in the strategic Spanish sectors linked to digital transformation. The execution of the Next Tech fund, foreseen by the Recovery, Transformation and Resilience Plan, is among the functions of the SETT, which, in addition, manages two more financial instruments to enhance the technological business ecosystem: PERTE Chip, dedicated to microelectronics and semiconductors, and Spain Audiovisual Hub, which promotes the digitalization of the audiovisual sector.