CaixaBank expands its specialized offer for technology companies with the launch of a Venture Debt with an initial endowment of 150 million euros destined to finance the growth of these companies. This new financing vehicle, aimed at scale-ups and start-ups consolidated technology-based companies, in Spain and Portugal, will be launched in December and through it, the entity will invest between 1 and 15 million euros per operation.
This instrument of venture debt, which will be funded from the bank’s own balance sheet, has an investment period of four years, with an additional period of five years for the recovery of investments. In addition, it has a guarantee from the European Investment Fund (EIF) of 100 million euros.
The operations will be structured as loans, whether bilateral or syndicated, with a maximum repayment period of 48 months and up to 18 months grace period and may have the option of participation in the companies (equity kickers)converting part of the debt into capital, with up to a maximum of 30% of the outstanding capital of the debt at any given time.
This alternative financing vehicle will complete the range of debt products of the entity’s Global Lending Solutions Business Banking team and will add to the Added Value Fundin operation since January 2023, to finance companies with EBITDA greater than 5-8 million euros. Through this fund, with an initial endowment of 500 million euros, the entity has invested more than half in a total of 13 operations and currently has approvals for an amount of 267 million euros.
Reference bank of the innovation economy
This launch reinforces CaixaBank’s position as a reference bank for the innovation economy. The entity, which has its division specialized in technology companies and their investors, DayOne, completes and expands its value proposition for technology-based companies.
With this launch, CaixaBank reinforces its position as a reference bank in the innovation economy, accompanying companies in all their growth phases through its specialized division DayOne
Through DayOne, the entity accompanies all technology-based, rapidly developing companies with a global scope of action that carry out value-added activities in all their phases with specific proposals.
To contribute to the development of young innovative companies with high growth potential, the entity has launched the EmprendeXXI Awards every year since its creation in 2007, aimed at start-ups with less than three years from Spain and Portugal. These awards have become a consolidated recognition in the territory and a reference, reaching their 18th edition this year.
In addition, DayOne, which has physical spaces in Barcelona, Madrid, Valencia, Zaragoza, Bilbao and Málaga and has business managers in Murcia, Castilla y León, the Canary Islands, Seville, Galicia and Catalonia, covering and providing specialized services in 14 autonomous communities , develops relationship banking work with the different actors in the ecosystem, since it facilitates relationships, synergies, knowledge and innovation through strategic alliances.
