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LoginQIA, COFIDES Launch Joint Investment Fund to Support Spain's Green, Digital Transition
Doha - Madrid, May 20 (QNA) - Qatar Investment Authority (QIA) and COFIDES, Spain's state-owned financial institution, announced an agreement to establish a joint EUR 300 million investment fund to invest in strategic projects across Spain, with a particular focus on financing the green transition, digital transformation and technological innovation.
QIA said in a statement on Wednesday that the launch of this joint vehicle marks a significant milestone in the relationship between both institutions and in their commitment to foster sustainable economic development and innovation across Spain.
The new fund, Ispania Growth Fund, aims to channel investment primarily into Spanish small and medium-sized enterprises (SMEs) in future-shaping industries, supporting their growth and helping to develop the next generation of national champions. The fund will be managed by a leading Spanish asset manager, Portobello Capital, and will primarily focus on high-impact, scalable investment opportunities that align with Spain's broader economic transformation agenda.
COFIDES's contribution to the joint vehicle is made through the Co investment Fund (FOCO), a public investment fund managed by COFIDES whose aim is to attract international capital, through co-investment deals, to strategic sectors that are drivers for the future competitiveness of the Spanish economy.
CEO of QIA, Mohammed Saif Al Sowaidi, said, "Our partnership with COFIDES seeks to support companies at the forefront of Spain's economic transformation and is a testament of QIA's strong belief in the strength of Spain's economy. Thanks to this deeper and more diversified partnership, we will work closely with COFIDES to support the innovative, technology-driven sectors that will shape Spain's economy for years to come."
For her part, Chair and CEO of COFIDES, Angela Perez, said, "This initiative deepens our already strong alliance with QIA and represents a major milestone in our co-investment strategy with leading international partners. It is also further proof of the success of FOCO, managed by COFIDES, as a tool for attracting international investors to contribute to scale up high-potential Spanish companies."
In turn, founding partner at Portobello Capital, Inigo Sanchez-Asiain, said, "We are proud to partner with QIA and COFIDES in launching Ispania Growth Fund," noting that this initiative reflects a shared commitment to strengthening Spain's economic transformation by supporting innovative and high-potential companies.
"At Portobello Capital, we look forward to deploying our local expertise and investment platform to help scale businesses that are driving the green and digital transition and shaping the next generation of Spanish industry," he added.
The launch of the Ispania Growth Fund reflects QIA's position as a long-term investor committed to supporting innovative companies that are equipping Spain's economy through the digital and green transitions. The investments made through this fund will be instrumental in creating jobs, accelerating regional development, and contributing to the resilience of Spain’s SME sector, aligning closely to Spain's national priorities.
The term "Ispania" acts as a distinctive international reference to Spain, combining its historic European roots with a natural alignment to the Arabic pronunciation of the country (Isbania), thereby mirroring the Fund's ambition to act as a cultural and investment bridge between Qatar and Spain through co-investments in fields of mutual interest. (QNA)
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