Madrid, January 16, 2024. COFIDES is participating in Nexxus Iberia Private Equity Fund II, which has recently been formalized with a total commitment amounting to 230 million euros.
COFIDES will contribute 20 million euros from the Fund for Foreign Investment (FIEX) in order to invest in medium-sized Spanish companies with a clear internationalization strategy. In addition, and at the request of COFIDES, the fund proposes an investment of at least 15% of its portfolio in companies that contribute to the fight against climate change.
Through FIEX, COFIDES also took part in the Nexxus I Fund, which has successfully developed to have a commitment amounting to 170 million euros. The Nexxus II Fund aims to complete between eight and ten investments in line with Nexxus Iberia's investment strategy and with a focus on the healthcare, services, technology, and climate action sectors.
The corporate head of the COFIDES Investment Division, Miguel Ángel Ladero, noted that "for COFIDES, it is important to participate in a fund like Nexxus with a marked strategy towards the internationalization of companies.” Additionally, he pointed out that "with this second fund, the success of the public/private collaboration model has become obvious for strengthening the private equity market in our country."
For Pablo Gallo, partner of Nexxus Iberia, “this milestone consolidates Nexxus Iberia on the map of private capital in Spain and positions us as one of the most dynamic management firms on the market.” Furthermore, he added that "this initiative will allow us to continue investing in SMEs in Spain and Portugal and work together with them through their process of continuous improvement – especially their internationalization, both on the European and American markets."
ABOUT NEXXUS IBERIA
Nexxus Iberia is a venture capital fund manager founded in 2016 to support small and medium Spanish and Portuguese companies so that they can accelerate their growth and expand internationally into Europe, Latin America, and the USA. The team is led by former partners of 3i and partners of Nexxus Capital with more than 20 years of experience in the venture capital sector in Spain, Portugal, and Mexico. The team has completed 32 investments and has fully divested from 22 companies in the Spanish and Portuguese mid-market portfolio.
After its association with Nexxus Capital, Nexxus Iberia has come to be one of the largest independent alternative asset managers in Mexico, with 1.9 billion dollars under its management through 7 funds, having made more than 40 investments and more than 15 divestments, including 7 IPOs.
Nexxus Iberia has commitments worth 170 million euros in its first fund. Since the inception of Nexxus Iberia Private Equity Fund I, Nexxus Iberia has partnered with 12 companies from various sectors both in Spain and Portugal. In addition, it has completed 5 investment cycles with the sales of Maresa, Bienzobas, Dorsia, Mercurius, and OFG. Nexxus Iberia also manages the “OFG continuation fund FICC,” worth 55 million euros.
ABOUT COFIDES
COFIDES is a state-owned enterprise specialized in the management of State funds that provide medium- and long-term financing for private investments linked to different public policy purposes. COFIDES directly manages funds aimed at supporting the internationalization of Spanish firms, strengthening the solvency of companies severely affected by the COVID-19 pandemic, to attract foreign direct investment into Spain through co-investment deals and to contribute to the growth of the impact investment ecosystem in Spain. In addition, COFIDES supports the management of the financial cooperation portfolio of the Spanish Agency for International Development Cooperation, promoting sustainable development in emerging economies and developing countries. In the ownership structure of the Company, the Spanish State holds 53% of the equity. The remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).
