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CAIXA CAPITAL RISC AND WAYRA JOIN FORCES TO INVEST IN START-UPS.
Caixa Capital Risc, the venture capital management firm of "la Caixa" and Wayra, the technology projects accelerator of Telefónica, have signed an agreement to promote mentoring activities, monitoring and financing of start-ups built into the initiative of Wayra Spain.
Wayra Spain, select the 20 best projects to accelerate its growth and provide them with basic tools: finance, management, technology support and work spaces that will enable them to start and turn their ideas into reality.
In this context, the today's agreement with Caixa Capital Risc provides three lines of collaboration between both institutions. First, Caixa Capital Risc will advice and mentor to selected projects to be accelerated in order to support them in defining and implementing of its business plan.
In addition, the 20 projects selected by Wayra initiative (10 in Madrid and 10 in Barcelona) will have the preferential access to financing through Caixa Capital Micro, the fund directed to early stage companies managed by Caixa Capital Risc . Wayra presented recently the 30 finalists of 2012.
Finally, under this agreement and coinciding with the celebration of the Wayra Week in Barcelona on Tuesday February 21, an investment forum will be celebrated where 10 early stage companies will present their projects to the investment community. Among those 10 companies, are some of the currently accelerated start-ups at the Academy Wayra Madrid and projects invested since Caixa Capital Micro seeking a new financing round. These forums will be every six months and will be held in Madrid and Barcelona.
Caixa Capital Risc has resources amounting €50 million to invest in innovative companies through 3 fundss: Caixa Capital Microa, Caixa Capital Biomed and Caixa Capital TIC. Caixa Capital Micro is a fund that invests amounts of €50,000 in equity for innovative start-ups through equity loans with a temporary option for capitalization. Since its launch in December 2010, Caixa Capital Micro has invested in 36 projects and disbursed more than €2 million.
Download free the 2011s1 Venture Capital in Spain report (Spanish language), with the main figures and details of 121 deals. Also free access to 2010 VC report (Spanish language).