The Institut Català de Finances (ICF) has launched the Lidera Impuls Pime fund, a proprietary fund with an allocation of €70 million created to strengthen and transform Catalonia's business fabric, with a special focus on SMEs.

As an instrument that continues the approach of the ICF Capital Expansió fund, it aims to help Catalan companies with real potential grow, enhance their competitiveness, drive internationalisation and business consolidation processes, and promote shareholder restructuring to facilitate generational handover and business succession.

As a guideline, the fund will invest in profitable companies with a track record of positive results and turnover of between €10 million and €100 million, and will take minority stakes of between 10% and 25% of their share capital.

Deals of between €3 million and €7 million are expected and, although there are no sector restrictions, the fund will prioritise industrial and value-added services companies.

It is the third venture capital fund from the public development bank focused on business growth, but it introduces new features compared to its predecessors. The allocation rises from €50 million to €70 million and, in addition to growth deals, it will also finance business succession deals.

It also offers a preferred return to private investors who co-invest, extends the investment horizon from 10 to 15 years and takes into account companies' roots in the region when divesting.