Catalan fund to help SMEs prepares three new investments for 2003


FonsInnocat, the capital risk fund of the regional government of Catalonia, Spain, created in May 2002 to help innovative SMEs, is preparing to make three new investments this year. FonsInnocat, which targets companies with a turnover of between 0.1m and 30m euros, expects to have a stake in a maximum of 15 companies in 2005.

So far, FonsInnocat has stakes in two Catalan companies, Net Transmit & Receive (NTR), in which it has invested 1.3m euros, and AdopArt, of which it has acquired 48 per cent. FonsInnocat has resources of in the region of 30m euros. Other shareholders of FonsInnocat, in addition to the regional government, are the European Investment Fund, Mutua de Propietarios, Mutua d'Enginyers and French power group EDF.

Source: Expansion



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Posted on Jan 6, 2003
Region: Spain