The purpose of this initiative is to stimulate the early stage investment industry in Spain through the creation of a €40 million co-investment fund.  The co-investment fund is made up of equal contributions from ENISA, Spain´s leading government agency for the development of innovation based and high growth potential companies, and an international group of specialised private sector investors.

The Spain Startup Co-investment Fund (SSCF) is not only an instrument to support the development of the Venture Capital industry in Spain but also an initiative to promote the entrepreneurial talent in Spain, bringing it to the attention of some of the most internationally active early stage investors.

Via the SSCF, ENISA offers participative loans to early stage companies, as a co-investment alongside co-investment partners who have been accredited.

ENISA in collaboration with IE Business School has developed a series of selection criteria which co-investment partners must fulfil in order to be considered by the SSCF.

Once the co-investment partners have been accredited by ENISA they must sign the “Co-investment Partner Protocol” which outlines the obligations of both the co-investment partner and the SSCF.

It is upon this trusted relationship with the co-investment partner that ENISA can co-invest in transactions presented by the co-investment partner via a participative loan with terms as defined annually by DGIPYME with the following commitment:

1. For transactions of up to €300,000, ENISA will accept or reject the co-investment request within 15 days.

2. For transactions greater than €300,000, ENISA will accept or reject the co-investment request within 45 days.

3. Total maximum financing any one company can receive from ENISA is €1,500,000.

4.  €20,000,000€ has been committed by ENISA to the SSCF.

5. Co-investment partners: include VC firms, limited partnerships, Business Angels.