What sectors does Fond-ICO Next Tech invest in?

Spain's EUR 4B government tech fund managed by AXIS/ICO, investing directly in Spanish scale-ups and as an LP in leading global VC funds. Second-largest European tech fund-of-funds after Germany.

Typical check size

€10M – €100M

Fund size: EUR 4B total fund size; targets EUR 8B mobilised with co-investment

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Portfolio highlights

LP in Cathay Innovation Fund III (EUR 100M commitment)

Cabify - Spanish ride-hailing platform (direct EUR 20M investment)

Wallapop - Spanish second-hand marketplace (direct EUR 20M investment)

Contact

www.axispart.com/en/web/axis/fond-ico-next-tech

Spain

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Government

Spain

Fond-ICO Next Tech

Investment focus

Sectors

Investment stages

Series A

Series B

Growth

Geographic focus

Spain

Europe

Investment thesis

Spain's EUR 4B government tech fund managed by AXIS/ICO, investing directly in Spanish scale-ups and as an LP in leading global VC funds. Second-largest European tech fund-of-funds after Germany.