News | Spain

Friday 26th October 2001

The venture capital industry invested €1,127 million in Spain last year, a rise of 55.9%. Equity funds have grown by 61% to €2,530 million, according to information from industry experts at the conference organised by SJ Berwin. Nevertheless, the Spanish market still has a long way to go before catching up.

From the legislative viewpoint, Carlos Pazos, partner at SJ Berwin, drew attention to the need for deregulating the investment policies of the insurance and pension funds industries.

Pazos pointed out that the legal framework does not offer an adequate response to the needs of Spanish venture capital. The economic slowdown will also produce a slower growth in the sector.

This situation has generated a climate of suspicion, which has entailed a change in portfolio objectives, a demand for highly qualified teams and the necessity for greater information transparency.