Strive It is an organization of American origin that focuses on the technology ecosystem and has a subsidiary in Spain through which more than 1,800 entrepreneurs have passed. Your point of view Venture capital National is reflected in A a report The latter highlights the danger that The small size of domestic funds limits the virtuous circle effects of innovation.
Contrary to what it may seem, The outlook Endeavor describes is rosy.. For example, both the number of operations (nearly 2,000) and their global size (more than €7.8 billion) stand out between 2021 and 2022, record years in which the pandemic shock was less pronounced than in the previous year for the European environment.
There is one factor that explains this flexibility. The majority of the fabric of entrepreneurship is found in Initial stages of business development (Early stage). There the financing needs are lower and there are enough local funds to cover them.
On the other hand, the decline was less pronounced in number Exits (sales to third parties) also makes sense in a country where There are comparatively less moreYes (Start-ups That bill is at least a million per year) compared to the northern part of the European Union (France, Germany and the United Kingdom).
Spring “Venture Capital”
Spain has a good track record of service if we look at the development of venture capital so far in this century. Signatures like They managed, Axon Partners Group, Bulent Capital, Already ready, Nota And Caixa Capital Risk It was established between 2001 and 2008.
Kibo (2012), Siaya (2013) and K box (2016), most likely Top 3 A country in terms of the volume of managed resources, it shows that the volume of premium venture capital funds is growing little by little, with investment vehicles amounting to about 200 million. Others like samaipata, Attribution And Draper B1 It’s a perfect complement on a smaller scale.
The prosperity of funds and their integration with foreign giants (especially Anglo-Saxon) allows the ecosystem to sign an exceptional chapter between 2020 and 2022 despite the pandemic and the (global) venture capital winter. In that period they reached unicorn status Flying wire (Firstly start Spanish included in Nasdaq), Factorial, Fever, Square wall, travelperk And defoe, The company you created Pedro Castillo After his career in the innovation department at Bankinter.
Where are the barriers?
a Almost a cultural barrier Potential torpedoes Venture capital Spanish, Endeavor points out. In a survey prepared by the company based on the testimony of 20 national funds, it is surprising that about 90% praised the state of the sector, but less than 5% thought about heading towards tours that cover the stages of the sector’s growth. Start-ups.
The difference with Germany, France, and especially the United Kingdom, is very small. If venture capital invested in Spain about 3.5 billion euros (including the sum of domestic and foreign funds) in 2022, Germany transferred 12,800, France 13,600 and the United Kingdom 35,300.
What are the solutions?
Endeavor highlights three things of vital importance: increasing the participation of major Spanish companies in these funds; Consolidating efforts with pension funds and insurance companies; And More attractive tax treatment.
“In the long term, the future of the Spanish ecosystem depends on its ability to support more Metrics and local funds, so they can retain the value of their successes and reinvest it. To achieve this virtuous circle, Spain will need local investors to lead large rounds That leads to great Exits. The report concludes that relying on foreign investment means losing wealth and achieving less than desired growth.
“Creator. Devoted pop culture specialist. Certified web fanatic. Unapologetic coffee lover.”