Spanish Association of Venture Capital Entities – ASCRI

The Spanish Association of Venture Capital Entities (ASCRI) is the Spanish Association of Capital, Growth and Investment that brings together national and international venture capital and private equity entities, dedicated to investing capital in unlisted companies with high growth potential to help them to grow and increase in value.

Spanish Association of Venture Capital Entities - ASCRI

Founded in 1986, ASCRI represents the venture capital and private equity industry before the Spanish authorities, the government and its institutions, entrepreneurs and investors.

Its mission is to disseminate and communicate the positive impact of the contribution of private capital to the economy, driven by the growth of SMEs in Spain, and the generation of employment provided by this sector.

Mission and objectives of ASCRI

ASCRI has several objectives, in addition to the main one of representation of investment companies. Among them:

  • Promote investment in private equity and venture capital : By pension funds, insurance companies, family offices and companies.
  • Promote a regulatory framework that favors the development of this sector : Ensuring the interests of the sector when designing and implementing policies that stimulate entrepreneurship, innovation and growth in Spain.
  • Promote knowledge : ASCRI prepares and publishes reports, studies and statistics on the evolution of the sector, the beneficial impact for the economy of investment through private capital, resource capture and distribution by autonomous communities or sectors, the level of investment with with respect to Spanish GDP, the number of exits or divestments, etc.
  • Organize events with the mission of spreading the positive impact of investment via private capital: They are aimed both at ASCRI members and the general public, such as training courses, specific conferences or round tables.
  • Connect all the agents of the sector in Spain : Watching over their interests before the administration and public opinion, inside and outside of Spain. To do this, it has alliances in both Europe and Latin America.
  • Disseminate and guarantee professional standards among its members: Among them are transparency, good governance and best practices through an adequate regulatory framework for the sector.
  • Promote sustainability and economic and social progress : ASCRI is part of the UN Global Compact, defending sustainable finance and responsible investment, both among its partners and in the companies in which they invest.

ASCRI’s social structure

The organization has managing partners, advisory partners and investment partners. The managing partners, in particular, represent more than 90% of the private equity entities that exist in Spain. They are companies dedicated to the financing of business projects of small and medium-sized companies through temporary investments in their capital stock.

Members pay annual fees that vary depending on the capital managed by their entity, being the cheapest fee for those companies that have a capital under management of less than 10 million and the highest for volumes greater than 400 million. In addition, this fee also varies according to the number of employees.

Investment universe

Through venture capital and private equity companies, they look for unlisted companies with great growth potential and international projection to invest during time horizons that range between 3 and 10 years.

They begin to finance these companies by entering their shareholding, with both minority and majority investment positions. At the same time, they also provide advice to face problems, help them professionalize management teams, import cross-cutting knowledge from other sectors and provide new business perspectives with other strategies for creating value.

Once they have generated the expected value, ASCRI organizes a sale process that maximizes the value of the investment, leading to the divestment of the company.

Some funded companies are BQ, Burger King, GRS, Estanda or Gocco.