NEOTEC – Spain-based fund-of-funds

EIF and the Centre for the Development of Industrial Technology (CDTI: Centro para el Desarrollo Tecnológico Industrial), the tech transfer office of the Spanish Ministry of Industry, Tourism and Commerce have jointly sponsored a Spain-based fund-of-funds, known as NEOTEC. NEOTEC was launched in February 2006.

This high-tech and innovation co-investment facility was subscribed by CDTI, EIF and several other private investors, mainly Spanish blue chip companies. It closed at EUR 183m in June 2006, of which the EIF commitment was EUR 50m.

Since becoming operational, NEOTEC has signed several commitments and has a healthy pipeline for 2008-2009.