Doha: Qatar Investment Authority (QIA) and COFIDES: Qatar Investment Authority (QIA) and COFIDES, Spain's state-owned financial institution, have announced an agreement to establish a joint EUR 300 million investment fund aimed at investing in strategic projects across Spain. This initiative focuses primarily on financing the green transition, digital transformation, and technological innovation within the country.
According to Qatar News Agency, the launch of this joint vehicle signifies a milestone in the collaborative relationship between QIA and COFIDES, highlighting their commitment to sustainable economic development and innovation in Spain. The new fund, named Ispania Growth Fund, will target investment into Spanish small and medium-sized enterprises (SMEs) in future-oriented industries, with the goal of supporting their growth and fostering the development of the next generation of national champions.
Portobello Capital, a leading Spanish asset manager, will manage the fund, concentrating on high-impact, scalable investment opportunities that align with Spain's broader economic transformation agenda. COFIDES's investment contribution comes through the Co-investment Fund (FOCO), a public investment fund managed by COFIDES to attract international capital and drive competitiveness in Spain's strategic sectors.
Mohammed Saif Al Sowaidi, CEO of QIA, expressed the partnership's objective to support companies driving Spain's economic transformation, emphasizing QIA's belief in the strength of Spain's economy. The collaboration with COFIDES aims to bolster innovative, technology-driven sectors that will shape Spain's future economy.
Angela Perez, Chair and CEO of COFIDES, highlighted the initiative as a major milestone in their co-investment strategy with international partners and a testament to the success of FOCO in attracting international investors to boost high-potential Spanish companies.
Inigo Sanchez-Asiain, founding partner at Portobello Capital, expressed pride in partnering with QIA and COFIDES to launch the Ispania Growth Fund. He emphasized the shared commitment to strengthening Spain's economic transformation by supporting innovative and high-potential companies, leveraging Portobello Capital's local expertise to scale businesses driving the green and digital transition.
The Ispania Growth Fund underscores QIA's role as a long-term investor focused on supporting innovative companies that will propel Spain's economy through digital and green transitions. The fund's investments are expected to create jobs, drive regional development, and enhance the resilience of Spain's SME sector, aligning closely with national priorities.
The term "Ispania" serves as a distinctive international reference to Spain, reflecting its European roots and aligning with the Arabic pronunciation (Isbania), symbolizing the Fund's ambition to act as a cultural and investment bridge between Qatar and Spain in mutually beneficial fields.