The Council of Ministers has approved this Tuesday the financial participation of Spain, for a total of 200 million euros, in the European Tech Champions Initiative 2.0 (ETCI 2.0), an operation that will be channeled through the venture capital fund Fond-ICO Next Tech, according to what is stated in the references of the Council itself.
This contribution will be channeled through Fond-ICO Next Tech, F.C.R., an instrument managed by Axis Participaciones Empresariales, S.G.E.I.C., S.A., S.M.E., which will act as the fund responsible for investing the committed resources.
In addition, the agreement authorizes the Minister of Economy, Trade and Business, Carlos Cuerpo, to sign the corresponding mandate agreement with the European Investment Fund (EIF), which will be responsible for the management of these funds within the framework of the European initiative.