The investment volume of venture capital in Spain amounted to €5.89bn over the first nine months of 2019, according to the Spanish private capital trade body ASCRI.
During this period, 16 megadeals (transactions of more than €100m of equity) were reached, a figure that accounted for 70% of the total investment volume.
By type of investor, international funds continue to show great interest in Spain since they are responsible for 80% of the total volume invested in 77 deals. Domestic private capital funds closed 396 investments, representing 19% of the total volume invested, whilst domestic State-backed private capital funds led 76 investments.
By size of the investments, the middle market (transactions with an equity investment between €10M and €100M) also shower great performances, with a total volume of over €1.185bn in 46 investments.
Over €1bn has been raised by domestic private capital in the first nine months of the year, showing the strong interest of institutional investors for the Spanish private capital sector.
Divestments by their part were close to €2bn during the period despite the close of the Stock Exchange. But from that number, just 9 divestment operations took place with losses, which according to ASCRI proves the good health of the sector.
The Spanish Capital, Growth and Investment Association (ASCRI) represents the venture capital & private equity industry in Spain. Chaired by Miguel Zurita, it brings together more than 130 national and international venture capital & private equity firms, 80 service providers and 12 institutional investors.