Venture Capital & Private Equity Report (SpainCap (ex-ASCRI))

Summary

• Private capital in Spain invested an all-time record total volume of €9,238 million across 960 operations in 2022.p.8
• Venture Capital achieved an all-time record with €2,124.6 million invested across 779 operations.p.8
• International investors accounted for 80% of the total invested volume in Spain.p.8
• The middle market segment recorded an all-time high volume of €3,088.4 million, representing a 26.7% increase compared to 2021.p.8
• Divestments at cost price registered a volume of €1,952 million across 439 operations.p.8
• Private fund managers raised €2,620 million in fundraising, marking the third-highest historic record.p.8
• Dry powder available for investment by private domestic fund managers was estimated at €6,045 million.p.8

Key insights

1. The total transaction value includingPrivate Equity equity, coinvestments, and debt reached €18,721 million in 2022.p.13
2. Small and medium-sized enterprises represented 90% of the 665 companies that received private capital funding.p.13
3. Total funds under management by Private Equity and Venture Capital entities in Spain reached €48,335 million.p.18
4. Madrid concentrated 44% of total private capital investment volume in Spain during 2022.p.26
5. The IT sector was the primary recipient of private capital funding, receiving 24.5% of total invested resources.p.25
6. Large market operations exceeding €100 million in equity totaled €4,999.9 million across 15 investments.p.31
7. Late stage venture funding totaled €1,508.9 million across 165 investments in growing startups.p.25
8. Sales to another private equity entity (secondary buyouts) represented the main divestment mechanism by volume at €1,150.9 million.p.40