Innvierte

What Innvierte does

Innvierte Economía Sostenible SICC S.M.E. S.A. is a Spanish state-owned public investment vehicle (Sociedad de Inversión de Capital Fijo, SICC) regulated by the CNMV and managed by CDTI (Centro para el Desarrollo Tecnológico y la Innovación), a Public Business Entity attached to the Spanish Ministry of Science and Innovation. The entity operates as a Fund of Funds and direct co-investment platform, deploying public capital as an anchor investor into Spanish technology-based and innovative companies, primarily SMEs with high growth potential. It serves three core constituencies: (i) Spanish technology and innovative companies seeking venture capital financing, (ii) third-party fund managers (gestoras) seeking anchor LP commitments, and (iii) accredited professional private investors interested in co-investment opportunities alongside a public entity.

Innvierte operates through two principal investment lines. The first is the Fondo de Fondos (Fund of Funds) line, reactivated in March 2024, which takes anchor LP positions in selected investment vehicles with a minimum fund size of €50M and Innvierte minimum investment of €10M, typically representing 10-15% of the total vehicle. The second is the Deep Start program (launched May 2025, formerly Deep Tech Tech Transfer), a €353M joint venture capital instrument with the European Investment Fund (FEI) — €300M from CDTI/Innvierte and €53M from FEI — focused on technology transfer and deep tech in Spain. In parallel, Innvierte executes direct co-investments alongside accredited private investors in Spanish technology companies across multiple verticals including life sciences, climate, agritech, dual-use technology, and advanced industries.

As a public investment vehicle, Innvierte does not generate traditional sales revenue; it deploys public capital with the objective of creating value through capital gains on equity participation and catalyzing private capital flows into Spain's innovation ecosystem. Its regulatory framework (CNMV, GDPR-compliant) and ministerial mandate create a structurally distinct role versus private VC. The entity's portfolio includes 38 operational investment vehicles and 180+ direct co-investment companies (with 14 legacy vehicles from 2012-2016 now in divestment phase). In the first half of 2026 alone, CDTI Innovación through Innvierte approved committing more than €1,000 million across 24 new co-investments and 14 investment vehicles, including specific allocations of €95.8M (June 2026) and €433.5M across 5 vehicles (April-May 2026). The entity is headquartered at C/ Cid 4, Madrid.

Name

Innvierte

Legal name

Innvierte Economía Sostenible SICC S.M.E. S.A.

Website

https://innvierte.es

Company type

Public

Operating status

Operating

Headcount range

1–10 employees

Short description

Innvierte Economía Sostenible SICC is a Spanish state-owned public investment vehicle managed by CDTI under the Ministry of Science and Innovation, deploying public capital as an anchor investor into Spanish technology-based companies via Fund of Funds and direct co-investment, regulated by CNMV.

Ownership category

akta.pro rank

Product category

Venture Capital Investment

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599)

SIC

Investors, Nec (6799)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

akta.pro secondary industries

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD), Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

Keywords

• Venture capital investment
• Fund of funds
• Technology transfer financing
• Deep tech investing
• Public venture capital

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Equity Investment Returns: Innvierte generates returns through equity participation in technology companies and investment funds. As a public investment vehicle under CDTI, it provides capital risk financing to Spanish technology and innovative companies, aiming to create value through capital gains on its investments.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Innvierte is a public investment entity (SICC - Sociedad de Inversión de Capital Fijo) managed by CDTI that channels venture capital financing into Spanish technology-based and innovative companies. It operates through two primary mechanisms: (1) direct co-investment alongside accredited private investors in technology companies, and (2) indirect investment via a Fund of Funds (Fondo de Fondos) approach, acting as anchor LP in selected venture capital and private equity funds. It also runs the Deep Start program jointly with the European Investment Fund (FEI) targeting technology transfer and deep tech.

Product overview

Innvierte is a venture capital ecosystem operated by CDTI (Centre for Technological Development and Innovation) offering multiple investment vehicles and strategies. The core offering is the Innvierte SICC entity which manages both direct co-investments alongside private investors in technology companies (through initiatives like strategic companies, energy/environment, and advanced therapies) and indirect investments through fund-of-funds structures. The Fondo de Fondos provides anchor investment in external funds, while Innvierte Deep Start focuses specifically on deep tech and technology transfer through a €353M joint program with the EIF. The 2012-2016 Convocatorias represent legacy vehicles in divestment phase.

Differentiator

Problem solved

Functional benefit

Brands

• Deep Start (antes Deep Tech Tech Transfer): Venture capital financial instrument for technology transfer and deep tech in Spain, launched in May 2025 in collaboration with FEI.
• Fondo de Fondos

Products and services

• Innvierte SICC The main investment entity operated by CDTI that manages both direct and indirect venture capital investments in technology-based and innovative Spanish companies across various sectors and growth stages. Regulated by CNMV.
• Direct Investment (Co-investment)
• Fondo de Fondos (Fund of Funds) Fund-of-funds initiative where Innvierte participates as anchor LP investor in selected venture capital and private equity funds that invest in technology-based Spanish companies. Open call model with funds required to align with Innvierte's strategy.
• Deep Start (Deep Tech Tech Transfer) Venture capital instrument launched jointly with the European Investment Fund (FEI) supporting technology transfer and deep tech ecosystem in Spain. Total investment commitment of €353 million.
• Convocatorias 2012-2016 Fondos Legacy investment funds selected during the 2012-2016 period, with 14 vehicles committed at €260 million, currently in divestment phase or closed.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• CDP Venture Capital (Italy): CDP Venture Capital is Italy's public fund-of-funds and direct VC vehicle managed by Cassa Depositi e Prestiti, investing as anchor LP and co-investor in Italian technology companies. It is the most direct institutional analogue to Innvierte in another EU member state.
• KfW Capital: KfW Capital is Germany's federal government-backed VC fund-of-funds that invests as anchor LP in German and European venture capital funds focused on technology and innovation. It mirrors Innvierte's role as a public anchor LP catalysing private venture capital in its domestic market.
• ENISA: ENISA is a Spanish public company attached to the Ministry of Industry that provides venture debt and seed capital to Spanish SMEs and tech entrepreneurs. It is a domestic public counterpart focused on earlier-stage capital than Innvierte.
• Bpifrance: Bpifrance is France's public investment bank that operates direct VC, co-investment, and fund-of-funds programs similar in mandate to Innvierte, anchoring private French tech and innovation venture capital. Both are state-backed vehicles deploying public capital catalytically into domestic tech ecosystems.
• European Investment Fund (EIF/FEI): The EIF is a pan-European public-private fund-of-funds investor under the EIB Group that anchors VC and growth funds across Europe, and is Innvierte's direct partner in the Deep Start €353M program. It is Innvierte's closest collaborator and structurally comparable LP.

Broad incumbents

• ICO (Instituto de Crédito Oficial): ICO is Spain's state-owned financial institution providing public financing, including VC fund-of-funds lines via its AXIS arm. It sits in the same state-backed finance ecosystem as Innvierte but operates as a broader public bank rather than a tech-focused VC vehicle.
• Israel Innovation Authority: The Israel Innovation Authority is Israel's national public agency that funds and anchors Israeli deep-tech R&D and early-stage VC, including historical models like Yozma. It is a direct analogue in mandate (catalysing a domestic deep-tech ecosystem) and trajectory.
• EIC Fund (European Innovation Council): The EIC Fund is a EU-level public VC investor providing direct equity to high-risk deep-tech scaleups alongside programs such as the EIC Accelerator. It complements Innvierte's member-state-level mandate with a broader pan-European innovation capital role.

Regional players

• ICF (Institut Català de Finances): ICF is the Catalan regional public finance institution that participates as LP and co-investor in venture capital funds targeting Catalan and Spanish tech companies. It is a regional public peer with overlapping fund-of-funds activity.

Emerging players

• SIFEM (Swiss Development Finance Institution): SIFEM is Switzerland's public development finance institution that invests as LP in emerging-market and innovation-focused private equity and VC funds. It is structurally comparable as a state-backed fund-of-funds LP, though focused on different geographies.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/CDTI
• LinkedInlinkedin.com/company/cdti

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innvierte