2023-06-18 13:00:11
Carlos Torres VillaChairman of BBVA, points out that the bank has already accumulated an investment of 600 million euros in venture capital funds, with a clear focus on innovation.
«BBVA accumulates 600 million committed in various venture capital funds. The recent focus of these investments is focused on promoting decarbonization and the development of innovative entrepreneurship in our main markets. Both areas make strategic sense for BBVA, to incorporate new knowledge into the Group and support the companies that we want to be our clients”, the executive stated in the sixth edition of the Open Summit the bank, as reported in a statement.
Specifically, investments in decarbonization and innovative entrepreneurship reach 100 of the 600 million that BBVA has committed to venture capital funds.
Among the investors are investment commitments in eight management funds such as Fifth Wall, Hy24, Just Climate, Lowercarbon and SUMA, focused on energy transition. In addition, BBVA has signed investment commitments in 10 technology funds, distributed between Spain (Axon, Be Able, Extension Fund, Leadwind and Swanlaab) and Mexico (ALLVP, Angel Ventures, Cometa, DILA and Nazca).
For his part, the BBVA country manager for Spain, Peio Belausteguigoitia, highlighted the role of Catalonia due to the existing concentration of talent and investment in startups.
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