CDTI Innovación's INNVIERTE program
CDTI's INNVIERTE is Spain's public venture capital program, launched in 2012, that anchors private VC funds and co-invests in technology-based and innovative Spanish companies across biotech, deep tech, climate tech, and advanced manufacturing sectors.
- Company typePublic
- Founded1986
- HeadquartersMadrid, Spain
- Headcount—
- GTM typeB2B
- OfferingServices
What CDTI Innovación's INNVIERTE program does
CDTI (Centro para el Desarrollo Tecnológico y la Innovación, E.P.E.) is Spain's state innovation agency, operating as a wholly government-owned Entidad Pública Empresarial under the Ministry of Science, Innovation and Universities. Founded in 1986 and headquartered in Madrid, CDTI delivers a portfolio of public funding instruments — including grants, partially reimbursable loans (with non-reimbursable tranches up to 33%), public procurement of innovation, technology-transfer support, and venture capital — to advance Spanish R&D&I across the full lifecycle from early-stage entrepreneurship through international cooperation and corporate scaling. CDTI operates through central headquarters in Madrid, 10 international SOST offices covering 51 territories, and collaboration agreements with regional innovation agencies in all 17 Spanish autonomous communities.
INNVIERTE is CDTI's public venture capital program, launched in 2012 and implemented through INNVIERTE Economía Sostenible SICC S.M.E., S.A., a CNMV-regulated closed-end collective investment vehicle wholly owned by CDTI. The program pursues a dual fund-of-funds and direct co-investment strategy: it anchors private VC vehicles managed by CNMV-regulated entities and co-invests alongside private investors in technology-based and innovative Spanish companies. Since inception, INNVIERTE has committed €3.1838 billion across 57 investment vehicles and €864.3 million in 197 direct co-investments, with €790 million allocated for 2026 within a broader €1.817 billion CDTI budget envelope. The program's mandate is to mobilize private capital toward Spanish innovation, support technology transfer from research institutions, and back the creation and consolidation of Spanish technology-based companies across sectors including biotech, deep tech, climate tech, energy storage, space, AI, advanced manufacturing, and agritech.
INNVIERTE does not develop proprietary technology or commercial software; its core product is capital allocation combined with ecosystem orchestration through partnerships with SECPHO, MIT Industrial Liaison Program, SPRIN-D, TAFTIE, COTEC, and ENAC. The business model is public capital deployment: returns from equity investments are reinvested in the Spanish innovation ecosystem. Pricing is not publicly disclosed — equity stakes are negotiated case-by-case with co-investors and fund managers. The program's customer base spans two distinct segments: technology-based and innovative companies seeking growth capital, and venture capital fund managers seeking anchor LP commitments for technology-focused vehicles.
CDTI Innovación's INNVIERTE program firmographics
Firmographics- Name
- CDTI Innovación's INNVIERTE program
- Legal name
- Centro para el Desarrollo Tecnológico y la Innovación (CDTI), E.P.E.
- Website
- https://cdti.es
- Company type
- Public
- Founded year
- 1986
- Operating status
- Operating
- Short description
- CDTI's INNVIERTE is Spain's public venture capital program, launched in 2012, that anchors private VC funds and co-invests in technology-based and innovative Spanish companies across biotech, deep tech, climate tech, and advanced manufacturing sectors.
- Ownership category
- akta.pro rank
CDTI Innovación's INNVIERTE program industry classification
Industry- Product category
- Public Venture Capital
- NAICS
- Other Financial Investment Activities (5239), Other Financial Vehicles (52599), Miscellaneous Intermediation (523910)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Corporate LP Programs (Corporate as LP in VC/PE funds) (FSANAHAH)
- akta.pro secondary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where CDTI Innovación's INNVIERTE program is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices11 records
Markets served
CDTI Innovación's INNVIERTE program business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure
Revenue model
- Venture Capital Investment Returns: INNVIERTE generates returns through equity investments in innovative companies and fund vehicles, with proceeds reinvested in the Spanish innovation ecosystem. The program operates as a public-private collaboration instrument.
- Direct/Indirect Venture Capital Investment: INNVIERTE programme allocated €790 million in 2026 for direct and indirect venture capital investments in technology-based companies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Venture Capital Investment (INNVIERTE) - Not publicly disclosed pricing |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
CDTI Innovación's INNVIERTE program product offering
Product offeringCore offering
INNVIERTE is a public venture capital program operated by CDTI Innovación (Centro para el Desarrollo Tecnológico y la Innovación) under Spain's Ministry of Science, Innovation and Universities. It promotes innovation by making direct equity co-investments in technology-based and innovative Spanish companies and by committing anchor capital to CNMV-regulated venture capital fund vehicles. The program is implemented through INNVIERTE Economía Sostenible SICC S.M.E., S.A., a closed-end collective investment company with CDTI as sole shareholder.
Product overview
CDTI Innovación operates as Spain's State Innovation Agency under the Ministry of Science, Innovation and Universities, offering a comprehensive portfolio of public funding instruments. The core offering is the INNVIERTE Programme, executed through the INNVIERTE Economía Sostenible SICC, which provides venture capital investment in technology-based companies and investment vehicles. Complementing this are direct funding instruments including NEOTEC (for technology-based company creation), Innovation Ecosystems, Cervera Technology Transfer Projects, R&D Projects, and partially reimbursable loans. The Public Procurement of Innovation (CPI) enables acquisition of innovative solutions for public needs. These instruments are designed to support the full lifecycle from early-stage entrepreneurship through international R&D cooperation and technology transfer, aligned with the Spanish Science, Technology and Innovation Strategy 2021-2027.
Differentiator
Problem solved
Functional benefit
Brands
- INNVIERTE: The venture capital programme of CDTI that promotes investment in technology-based and innovative companies through its SICC entity
- NEOTEC
- NEOTEC Mujeres Emprendedoras
- Cervera
- INNTERCONECTA
- INNVIERTE Economía Sostenible SICC
Products and services
- INNVIERTE Programme
- INNVIERTE Economía Sostenible SICC S.M.E., S.A.
- INNVIERTE Fund-of-Funds Line
- INNVIERTE Co-Investment Initiative
- INNVIERTE Strategic Companies Investment Line
Quantifiable outcome
- 57 investment vehicles supported since inception
- +2 more outcomes
Companies that use CDTI Innovación's INNVIERTE program
Customer profileNamed customers12 records
Segments3 records
Ideal customer profiles2 records
CDTI Innovación's INNVIERTE program technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
CDTI Innovación's INNVIERTE program partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- SECPHO (Deep Tech Hub)coreCDTI became first institutional partner of SECPHO, a hub with 160+ organizations driving Deep-Tech innovation, strengthening CDTI's positioning in frontier technologies and enabling collaboration on technology transfer and internationalization.
- MIT Industrial Liaison ProgramcoreFour-year partnership providing Spanish companies access to MIT's scientific and technological ecosystem, with CDTI as institutional member of ILP program connecting industry with frontier research.
- SPRIN-DcorePartnership to connect ecosystems, exchange best practices, and prepare joint programs for creating European tech champions, focusing on frontier innovation requiring combined funding and guidance.
- Innovation Growth Lab (IGL)minorCDTI participates in IGL's global initiative for increasing impact of innovation policies through experimental approaches and evidence-based program design improvements.
- COTEC FoundationminorCDTI collaborates with COTEC, a private non-profit promoting innovation as driver of economic and social development in Spain.
- TAFTIE (European Innovation Agencies)coreCDTI is active member of TAFTIE, the European association of national innovation agencies implementing R&D+I policies across EU member states.
- Club Excelencia en GestiónminorCDTI collaborates with Club Excelencia en Gestión to promote excellent, innovative, and sustainable management practices among Spanish organizations.
- Regional Innovation Agencies (17 Autonomous Communities)coreCDTI has collaboration agreements with agencies across all 17 Spanish autonomous communities including IDEA (Andalusia), ACCIÓ (Catalonia), IVACE (Valencia), GAIN (Galicia), SODERCAN (Cantabria), and others for regional innovation support.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
CDTI Innovación's INNVIERTE program competitors and assessment
Company assessmentBroad incumbents
- Bpifrance: France's public investment bank and innovation funder, operating both direct VC/co-investment arms and fund-of-funds vehicles. Directly comparable to CDTI/INNVIERTE in mandate (state-backed innovation financing) and structure (public equity participation in VC funds), with a similar focus on de-risking private investment in French technology companies.
- KfW Capital: Germany's federal development bank's venture capital arm, providing fund-of-funds investments in German and European venture funds and direct co-investments in growth-stage tech companies. Comparable in scale and mandate to INNVIERTE, serving as Germany's public anchor LP for the innovation finance ecosystem.
- InvestEU: EU programme mobilizing public and private investment through a single EU-wide budget guarantee, channeling capital via partner financial institutions including national promotional banks like CDTI. Comparable as a public-backed multi-investor vehicle for innovation and venture finance, though operating at the supranational rather than Spanish national level.
- British Business Bank: UK government's economic development bank operating venture capital fund-of-funds programs and direct investment programs supporting UK growth-stage and venture-backed companies. Comparable as a state-backed VC anchor that mobilizes private capital into domestic innovation ecosystems.
Direct peers
- European Innovation Council Fund (EIC Fund): The EU-level public venture investor managed by the European Commission, co-investing alongside INNVIERTE in companies like Integra Therapeutics. Operates a similar fund-of-funds and direct equity mandate targeting deep-tech and breakthrough innovation across member states, making it the closest direct competitor for cross-border deep-tech deals.
- CDP Venture Capital: Italy's state-backed venture capital platform under Cassa Depositi e Prestiti, operating fund-of-funds and direct investment vehicles targeting Italian innovative SMEs. Functionally analogous to INNVIERTE as a sovereign LP and co-investor in technology-based companies within a Southern European innovation ecosystem.
- Enterprise Ireland: Irish state agency providing venture capital, fund-of-funds commitments, and direct equity investments in Irish and EU technology companies. Operates a similar public-private VC model to INNVIERTE, including seed funds, growth capital, and internationalization support for innovation-driven Irish SMEs.
- EIC Fund: The EU-level public VC investor (€10B+ mandate) co-investing alongside national agencies including CDTI/INNVIERTE in deep-tech and breakthrough innovation. Comparable as a sovereign deep-tech LP and direct co-investor operating in the same Spanish and European deals as INNVIERTE.
- Bpifrance Investissement: The investment arm of Bpifrance making direct equity and fund-of-funds commitments in French technology companies. Directly comparable to INNVIERTE as a sovereign VC anchor operating fund-of-funds and direct co-investment strategies in support of national innovation priorities.
Regional players
- ENISA: Spain's national innovation agency for SMEs, providing loan and equity financing to Spanish entrepreneurs. A domestic peer operating within the same Spanish innovation finance ecosystem as CDTI/INNVIERTE, though focused on smaller ticket sizes and earlier-stage ventures.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
CDTI Innovación's INNVIERTE program social profiles
Digital presenceCDTI Innovación's INNVIERTE program financial estimates
Financial estimateRevenue estimate
Valuation estimate
CDTI Innovación's INNVIERTE program leadership team
Management profileNumber of profiles
Profiles7 records
CDTI Innovación's INNVIERTE program subsidiaries and ownership
Company hierarchySubsidiaries1 record
CDTI Innovación's INNVIERTE program funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CDTI Innovación's INNVIERTE program M&A and investment
M&A and investmentM&A
Investments73 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CDTI Innovación's INNVIERTE program
What does CDTI Innovación's INNVIERTE program do?
INNVIERTE is a public venture capital program operated by CDTI Innovación (Centro para el Desarrollo Tecnológico y la Innovación) under Spain's Ministry of Science, Innovation and Universities. It promotes innovation by making direct equity co-investments in technology-based and innovative Spanish companies and by committing anchor capital to CNMV-regulated venture capital fund vehicles. The program is implemented through INNVIERTE Economía Sostenible SICC S.M.E., S.A., a closed-end collective investment company with CDTI as sole shareholder.
Is CDTI Innovación's INNVIERTE program a public or private company?
CDTI Innovación's INNVIERTE program is a public company. It is classified as state government owned and is currently operating.
When was CDTI Innovación's INNVIERTE program founded?
CDTI Innovación's INNVIERTE program was founded in 1986.
Where is CDTI Innovación's INNVIERTE program based?
CDTI Innovación's INNVIERTE program is headquartered in Madrid, Spain, in the Europe region.
How does CDTI Innovación's INNVIERTE program make money?
Two revenue lines are on record. Venture Capital Investment Returns are the primary driver. The others are direct/Indirect Venture Capital Investment.
Who are CDTI Innovación's INNVIERTE program's main competitors?
Broad incumbents on record are Bpifrance, KfW Capital, InvestEU and British Business Bank. Direct peers are European Innovation Council Fund (EIC Fund), CDP Venture Capital, Enterprise Ireland, EIC Fund and Bpifrance Investissement. ENISA is listed as a regional player.
Does CDTI Innovación's INNVIERTE program have an API?
No public API is recorded for CDTI Innovación's INNVIERTE program.
What industry is CDTI Innovación's INNVIERTE program in?
CDTI Innovación's INNVIERTE program's product category is Public Venture Capital. Its primary akta.pro industry code is FSANAHAH, Corporate LP Programs (Corporate as LP in VC/PE funds), with a secondary code of FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 5239 and its SIC code is 6799.