©Reuters. The EU investment fund partners with a Spanish firm to finance SMEs
Brussels, March 17 (.).- The European Union investment fund has partnered with the Spanish investment firm Resiliencie Partners to mobilize between 150 and 200 million euros in financing for the expansion of small and medium-sized enterprises (SMEs) Spanish and European, reported this Thursday the European Commission.
Specifically, the Strategic Investment Fund, together with other private actors, will support the start-up of a Resilience Partners investment fund focused on providing financing to Spanish SMEs that are leaders in their business segment and have difficulties obtaining financing from traditional sources.
This is the second fund of this type that the Spanish firm establishes with the support of the EU investment plan, which has decided to support this new project after the “success” of the first, according to the Community Executive in a statement.
This fund has already managed to close a first operation with which it hopes to mobilize between 150 and 200 million in financing through synthetic securitization.
“This financing helps Spanish companies, characterized by a smaller size than their European counterparts, significantly increasing their size and solidity. Resilience Partners can finance companies in different stages of growth, finance products adapted to their needs in a specific moment,” explained the European Commission.
With the first fund, the company had closed twelve investments in Spanish companies, which, added to the operation already signed within the second, creates a network of companies that generated a total of 693 million euros in income in 2020 (11% more than in 2019 ) and contributed to creating 850 jobs (6.3% more than when the investment took place), reported the institution.
The Community Executive stressed that the “success” of the first Resilience Partners fund “has validated that the demand for this type of solution has exceeded the size of the first fund” and that the EU investment fund has decided to support the creation of a new one due to “the impact that this financing may have on the real economy”.
“Small and medium-sized companies need diversified sources of financing to grow and innovate. This fund, supported by the Investment Plan for Europe, is a great example of tailor-made financing solutions for SMEs in Spain and Europe”, stressed the European Commissioner of Economy, Paolo Gentiloni, in a statement.
For her part, the founder of Resiliencia Partners, Adriana Oller, stressed that the company wants to “go one step further and serve as a partner to reinforce the best environmental, social and governance practices in the companies in its portfolio”.
The European Fund for Strategic Investments is the main pillar of the Investment Plan for Europe and works by providing guarantees that allow investment in higher-risk projects since they cover the first losses that may be incurred, with a view also to attracting private investors.
So far, it has granted a total of €13.2 billion in financing in Spain, which has been used to activate €63 billion in additional investment, according to Commission figures.
(More information on the European Union at euroefe.euractiv.es)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.