Cia Espanola de Financiacion: FOCO's Three Initial Investments Approved for €220M
Deal News | Dec 20, 2024 | Cia Espanola de Financiacion d
In an effort to promote Spanish economic modernization and attract foreign investment, the Co-investment Fund (FOCO), managed by COFIDES and backed by the Spanish government, has approved its initial investments totaling €220 million. These investments, targeting the green and digital transitions, are strategically directed towards three funds: Azora Gestin, Eurazeo, and Hy24. Azora's Climate Solutions Fund will receive €50 million to back companies providing decarbonization solutions. The Eurazeo Growth Fund IV will allocate €150 million to growth-stage companies focusing on digital transformation. Lastly, €20 million is allocated to Hy24's Clean Hydrogen Equipment Fund to foster investments in low-carbon hydrogen technology. Each fund aims to double its investment in Spanish entities. The FOCO fund, deriving from the EU's NextGenerationEU resources, exemplifies Spain's dedication to strategic sectors—predominantly green and digital initiatives—aiming for transformative economic projects. Led by COFIDES, a state-owned entity, FOCO stands as a pivotal tool in accelerating Spain's adaptation to global economic developments and technological progress.
Sectors
- Private Equity
- Green Energy
- Digital Transformation
Geography
- Spain – Spain is the primary geography since the investments are directed towards Spanish companies to promote digital and green transitions within the country.
Industry
- Private Equity – This industry is relevant as the article discusses investment activities managed by COFIDES, directed towards various funds investing in strategic sectors.
- Green Energy – The investment in funds focusing on decarbonization solutions and hydrogen technology positions green energy as a crucial sector in the article.
- Digital Transformation – Eurazeo’s focus on growth-stage companies in the digital transformation sector underscores the article’s emphasis on digital innovation.
Financials
- €220 million – The total investment amount approved by the FOCO fund for its initial three investments.
- €440 million – The estimated total investment in Spanish companies as each fund aims to invest at least twice the amount committed by FOCO.
- €2,000 million – The endowment allocated to the FOCO fund from the NextGenerationEU instrument for attracting foreign investment in Spain.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cia Espanola de Financiacion | COFIDES | PE Firm | The private equity firm managing the FOCO fund investments approved by the government. |
| Azora Gestin | Investment Fund Manager | Company | Manages the Azora European Climate Solutions Fund, focusing on decarbonization solutions for real assets. |
| Eurazeo | Investment Fund Manager | Company | Administers the Eurazeo Growth Fund IV, advocating investments in growth-stage companies in the digital sector. |
| Hy24 | Investment Fund Manager | Company | Oversees the Clean Hydrogen Equipment Fund, concentrating on investments in the hydrogen economy. |
| Spanish Government | Investor/Government Body | Government | The entity behind the creation and backing of the FOCO fund through the Ministry of Economy, Trade, and Enterprise. |
| COFIDES | FOCO Fund Manager | Company | The state-owned company responsible for managing the FOCO fund, directing investments, and supporting the internationalization of the Spanish economy. |
| Amparo Lpez Senovilla | Secretary of State for Trade | Person | An official representing the government's efforts in foreign investment attraction and digital/green transitions. |
| ngela Prez | Chairperson and CEO of COFIDES | Person | The executive spearheading COFIDES's mission to drive economic modernization through the FOCO fund. |
| Ardian | Partner in Hy24 | Company | Part of the joint initiative managing the hydrogen-focused investments. |
| FiveT Hydrogen | Partner in Hy24 | Company | Co-managing the Clean Hydrogen Equipment Fund specializing in hydrogen investments. |