The Institut Català de Finances (ICF), via its subsidiary IFEM, plans to invest 5 million euros in venture seed capital funds  and companies which are being created or have been created over the past six months so as to invest in companies starting up or during the first stages of their expansion inCatalonia.

The investment by these seed capital funds is targeted at innovative companies with a strong growth potential.

The aim of this initiative is to stimulate private invest in seed capital by driving and supporting the creation of financial instruments; and to facilitate access to financing for companies which are starting up, by diversifying their sources for capturing resources.

The public financial entity has called for expressions of interest (public competition) via its subsidiary IFEM - Instruments Financers per a Empreses Innovadores, to select new funds in which to co-invest in the form of capital, via a minority subscription.

In order to be eligible for this investment, the funds must have a minimum of 3 million in private capital already committed and achieve a minimum capital of 10 million euros including the participation of the ICF. The recipient of the investments of these funds must be micro, small and medium size companies.

Since 2010, the ICF has used this formula to invest via the IFEM a total of 9 million euros in seven seed capital funds in Catalonia: Finaves IV, SA; Inveready First Capital I, SCR SA; Societat d'Inversió dels Enginyers, SL; Healthequity, SCR SA; Inveready Innvierte Biotech II, SCR; VentureCap II, SCR and Inveready Venture Finance, SCR SA.

These seven funds part controlled by the ICF together with other private investors have invested 24 million euros in 68 newly created innovative companies or during their first stages of expansion.