2023-09-18 19:49:31
Banco Santander has teamed up with the private equity manager Inveready to launch a 100 million euro venture debt fund aimed at startups, which will be complemented by a range of products and services aimed at these types of companies. high growth. Santander will contribute 67 million to this fund, while the remaining 33 million will come from other investors as well as the manager. As reported by the entity in a statement, it is the largest venture debt fund in Spain to date.
The new fund is designed for technology-based, high-growth companies, with efficient use of capital, that have raised at least one round of capital and that can reach the profitability threshold in the medium term. The operations range from approximately 500,000 euros to five million, which allows growth to be financed in a “flexible” manner, minimizing shareholder dilution.
“We are very happy with the launch of this offer for startups. Entrepreneurs will be able to access a whole specific offer, not only to facilitate the take-off of the companies that are born, but so that they can consolidate their growth, which will undoubtedly “It is going to have a very positive impact on the innovation and entrepreneurship ecosystem in Spain,” indicated the CEO of Santander Spain, Ángel Rivera.
For companies that do not fit these parameters, Santander also has tools at its disposal. For more mature companies that need financing amounts greater than five million, Santander offers investment banking business and adapted debt products, as well as advisory services on mergers and acquisitions, debt structuring, IPOs or Search for strategic investors.
Through Santander Growth, the bank is already strengthening the corporate banking services it offers to SMEs, making global capabilities available to them and offering them advice from investment bankers at the level that large companies already receive. For companies in earlier stages, especially those that have not achieved a positive Ebitda and need financial support, the bank offers specific financing lines, with a risk channel more adapted to the particularities of this type of company.
In parallel to this financial offer, the bank will make collaborative spaces available to startups in all its urban ‘Work Cafés’ so that they can work, hold meetings or attend events and where there will be managers specializing in these types of companies. The entity will also have responsible figures in central services, in the 152 company offices and in the main entrepreneurship hubs (Madrid, Barcelona, Malaga, Valencia and Bilbao) to coordinate the teams dedicated to this segment.
Banco Santander will also support startups with other tools already available for other types of client companies of the entity, such as a service for searching, processing and managing public aid and European funds, through the platform. santander.tufinanziacion.com’; or the Santander Trade platform, dedicated to helping expansion and implementation outside of Spain. In this regard, the bank led by Ana Botín has also highlighted the Smart Fund, which has been in operation since 2014 and has financed more than 800 million to more than 200 companies, highlighting success stories such as Innovamat or Wallblox.
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