COFIDES presents the Co-investment Fund, an instrument that aims to attract foreign investment in Spanish companies

Before a delegation of Spaincap members

José Luis Curbelo has indicated that “the main objective of FOCO is to contribute to the transformation of the Spanish productive model by attracting foreign investment in Spanish companies that make investments in activities aligned with the objectives of the Recovery, Transformation and Resilience Plan.

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COFIDES has held a working meeting at its headquarters to present the main characteristics of the Co-investment Fund (FOCO) to a delegation of members of Spaincap -the association that brings together the entities of Venture Capital & Private Equity in Spain-. The representation of Spaincap has been headed by its general director, José Zudaire.

El Co-investment Fund (FOCO) is one of the new financial instruments included in the Addendum to the Recovery, Transformation and Resilience Plan, whose management has been entrusted to COFIDES.

The president and CEO of COFIDES, José Luis Curbelo, has indicated that “the main objective of FOCO is to contribute to the transformation of the Spanish production model through the attraction of foreign investment in Spanish companies that make investments in activities aligned with the objectives of the Recovery, Transformation and Resilience Plan (PRTR), such as the energy transition, digital transformation, sustainable mobility, biotechnology or sustainable agriculture, among others. To this end, “FOCO will invest in the capital of companies incorporated in Spain through co-investment agreements with different types of foreign investors.”

El general director of COFIDES, Miguel Tiana, has explained the characteristics and requirements of this new instrument, which will be endowed with 2.000 million euros and will be valid indefinitely. “FOCO investments will always be made under a co-investment regime with foreign investors, which may be both public financial institutions (such as sovereign funds or public pension funds) and private investors (investment funds, pension funds, insurance companies, non-governmental corporations). financial, etc.) and will primarily take the form of minority stakes in the capital of the invested companies.”

In his opinion, this new fund “will contribute to attracting foreign investment in productive sectors that contribute to strengthening the sustainable and inclusive growth of the Spanish economy, increasing the social and economic resilience of Spain and promoting its ecological and digital transformation.”

From SpainCap This initiative is valued very positively, which will stimulate investment in Spanish companies and promote the green transition and digitalization. In FOCO, the Venture Capital & Private Equity industry has an opportunity to continue betting on Spanish projects and talent and continue generating wealth for the national economy.