El capital riesgo español acelera para levantar fondos por 6.600 millones

Spanish risk capital funds are accelerating to raise capital for six.6 billion euros. Key Spanish risk capital managers attended IPEM in Paris to attract funds for their new funds. IPEM, one of the largest international private equity conferences, hosted a delegation of nearly a hundred Spanish professionals last week during the final stages of their fundraising process.

The conference featured a series of nearly non-stop meetings (similar to speed dating) in small booths, where fund managers tried to convince institutional investors to commit significant amounts of money to their funds. Around 6.200 industry professionals and Spanish managers like Alantra, Buenavista, Miura, Qualitas Energy, Suma, and Talde participated in the 2023 edition.

They showcased their firms and funds, as well as representatives from Altamar, Arcano, Aurica, and Inveready. Altogether, 960 managers and over 1.500 institutional investment firms were represented. Alantra, which has already closed its main vehicle, is working on fundraising for its climate transition fund Klima 2, aiming to raise 370 million euros, and growth fund N33, with an objective size exceeding 300 million.

Buenavista attended the Paris congress while in the middle of fundraising for its third buyout fund, Buenavista Buyout Innvierte III España, aiming to capture commitments of 250 million euros, already achieved. Miura, not actively fundraising, used the IPEM event to prepare for two vehicles worth 700 million euros in the coming years, with a new sustainability fund of 150-200 million euros planned for next year and a potential fifth main fund of 500 million in 2028.

Qualitas Energy, led by Inigo Olaguibel, is focusing on a different division. The Spanish renewable energy manager, who recently agreed to buy Cero Generation, is raising a 3.250 million euro fund, potentially increased discreetly by the firm, making it the largest Spanish risk capital fund in history. Suma is close to reaching its 200 million euro target for its third growth sustainable fund (SC Sustainable Expansion III), which has been warmly received at IPEM and could reach the hard cap of 250 million euros by year-end.

Talde also had a stand at the event, aiming to attract investors for its fourth private equity fund (Talde Capital Growth III), which has already raised 185 million of the 200 million target, and its second debt fund (Talde Debt Alternative II), with commitments of 81 million euros of the 100 million sought. The maximum size for these vehicles is 250 million and 125 million euros, respectively.

Aurica representatives took the opportunity at the Paris event to present Alisios, the co-investment fund they launched with A&G, with an objective size of 100 million euros. Other Spanish managers like Magnum, MCH, and Portobello are also advancing in their fundraising processes. Magnum's Alberto Bermejo is in the final stages of raising Magnum Capital IV, targeting 475 million euros, having raised 70% at the beginning of the year.

MCH is progressing with the fundraising for its sixth risk capital fund, with the target of 500-600 million euros. Portobello is also close to completing its fifth flagship fund, expected to reach around 700 million euros, complementing its 300 million euro fund from Catar and Cofides, totaling 1.000 million euros to invest over the next five years.