According to the first estimates obtained by the Spanish Venture Capital & Private Equity Association (ASCRI) through the European platform EDC, the volume of investment in Spain reached EUR4,844 million in the third quarter of the year with a total of 618 investments, 18.4 per cent more than in the same period of 2020.
Venture Capital has surpassed all record highs, with EUR1,228 million in a total of 512 investments.
According to the type of investor, the investment appetite of international funds, both Private Equity and Venture Capital, which have abundant liquidity and maintain their interest in Spain, has been maintained. In the first nine months of the year, they contributed more than 80 per cent of the total volume invested in Spanish companies (maintaining the weight of recent years).
Interest in Venture Capital (512 investments) and in the number of investments in Private Equity (106) stood out, registering record highs. Domestic fund managers slightly increased their investment volume (EUR925 million in Q3 2021 compared to EUR847 million in the same period of 2020) in 372 investments directed to Spanish companies.
By investment size, the five large deals in four companies above EUR100 million registered in the first nine months of the year concentrated a volume of EUR2,540 million, more than half of the total volume registered: Urbaser (Platinum), Idealista (Oakley and Apax), Alvinesa (ICG) and Job and Talent (SoftBank).
The middle market continues to be very active and this year has maintained the dynamism of recent years, both in terms of volume (EUR1,498 million) and number of deals (79 investments). Until two years ago, this segment was led by national Private Equity managers, and now it is shared between national and international fund managers and with a high presence of Venture Capital.
Eliminating the impact of large deals on the total volume, ticket investment grew below EUR100 million, which has led to a peak in investment volume in investments between 0 and EUR100 million (EUR2,304 million).
Venture Capital has surpassed all record highs, partly due to the high number of tickets above EUR10 million that contributed to finance the large rounds of Job&Talent, Wallapop, Travelperk or Copado, which were led by international funds. Venture Capital recorded a volume of EUR1,228 million in the third quarter of 2021 compared to EUR511 million in the same period of 2020. These figures highlight the maturity and strength of the technology ecosystem, with increasingly innovative projects with an international vocation.
The sectors that received the highest volume of investment were Other Services (40 per cent), IT (30 per cent) and Consumer Products (8 per cent).
