Andalusia launches €76.7 million venture capital initiative to mobilize €150 million for SMEs

Capital deployment structure

The Regional Government of Andalusia presented three new venture capital funds on 2 October 2026, establishing a 76.72 million euro financing initiative managed through regional agency Andalucía TRADE. Public funding accounts for 58.8 million euros co-financed by the European Regional Development Fund (ERDF), while three private investment firms commit 17.92 million euros in private capital. The regional executive projects that co-investment alongside private participants will mobilize at least 150 million euros into the local economy by the end of 2030. The program aims to finance more than 60 small and medium-sized enterprises (SMEs) and create approximately 2,000 jobs in high-value sectors. All three investment vehicles will become fully operational before 31 December 2026.

Targeted startup and expansion tiers

Andalucía TRADE selected three private asset managers with offices in Seville through a public tender process: Mar Océana Venture Capital Investments, Alter Capital Desarrollo, and Quadriga Asset Managers. Out of the 76.72 million euro total, 63.72 million euros is assigned directly across the funds, while a remaining pool of 13 million euros will be allocated competitively to the expansion funds based on their execution rates 18 months after launch. Mar Océana, managed by chief executive Tom Horsey, directs a 12.12 million euro fund (9.8 million euros public, 2.32 million euros private) for tech and digital startups under seven years old with revenues below 1 million euros. Individual tickets will range between 300,000 and 400,000 euros, up to a 600,000 euro ceiling per company. Alter Capital Desarrollo, led by Ángel González, operates a growth vehicle starting at 27.1 million euros (18 million euros public, 9.1 million euros private) targeting firms with annual turnover between 1 million and 30 million euros. Financing across all vehicles will be deployed through equity stakes and participating loans.

Regional financing gap and market trajectory

The funding program addresses an identified deficit in alternative corporate financing across southern Spain. Antonio Castro, general director of Andalucía TRADE, calculated that emerging companies and early-stage growth businesses face an estimated 100 million euro capital shortfall due to stringent collateral requirements in conventional banking. The launch ceremony in Seville brought together government representatives and fund managers, including Antonio Romero Haupold. Jorge Paradela, Andalusia's regional minister for industry, energy, and innovation, detailed the policy objectives of the rollout.

On one hand, it is about supporting projects with high growth potential that, given their innovative nature, face serious difficulties finding financing in the banking sector, and on the other hand, stimulating the venture capital market in Andalusia.

Regional records show that 92% of companies backed through previous European framework vehicles remained active five years after investment, surpassing the 70% benchmark tracked by state innovation agency ENISA. Annual venture capital deployments in Andalusia expanded from 18.4 million euros in 2024 to 34.7 million euros in 2025. Despite ranking as Spain's third-largest regional economy, Andalusia closed 2025 in seventh place nationally by accumulated venture portfolio size.