Investment vehicles

Inveready currently operates through 4 differentiated verticals: Digital Technology, Health & Life Sciences Venture Debt and Quoted Companies in Growth Markets and has invested, since 2008, in more than 110 companies.

Digital Technology

Geography: Spain & Portugal
Tickets: €200.000 to €1.5M
Thesis: We invest in well-rounded teams that have developed disruptive technologies and innovative and scalable business models that have a validated product in the market. We have a special focus across the digital enterprise stack – cloud infrastructure, cybersecurity, Big Data & Analytics, SaaS,  among others – as well as B2C opportunities in large markets.

We call our Digital Technology funds “Inveready First” because we aim to be the first institutional investor in a company, and we strive to support our portfolio companies all the way to their Series A. 

Discover our digital tech companies here
Life Sciences

Geography: Spain-lead Investor, ROW part of a syndicate led by a local VC
Tickets: €300.000 to €2M
Thesis: Seed & Series A. Inveready Biotech III is a €30M fund raised in 2018.  We invest in Drug Development companies that have an in vivo efficacy proof of concept and initial toxicology.  We also invest in Enabling Technologies (Bioprocessing, Digital Health) and Consumer Health.

Discover our life sciences companies here
Quoted Companies in Growth Markets

Geography: Continental Europe
Tickets: €1M to €4M
Fund size: €40M
Thesis: Investing trough hybrid equity structures in quoted small caps listed in European growth markets such as the Euronext Growth, MAB, AIM, NewConnect or Nasdaq First North among others.

The fund seeks to invest in growing companies that need a partner to finance potential M&A transactions, to attend CAPEX expansion plans, develop new products or to expand the Company to new geographies. The fund invests in companies engaged in a wide range of industries, but will have a special focus on technology, renewable energy, telecommunications and health care.

Discover our portfolio companies here
Venture Debt

Geography: Southern Europe
Initial investments from €300.000 to €3M. The financing can be divided in tranches.
Thesis: We invest from seed to pre-Series A companies which have a sustainable credit profile and have an important equity-upside. We generally co-invest alongside with other equity funds to lever the upside of the transaction but are also open to finance companies standalone

We perform Venture Debt transactions in companies with annualized revenues above €1 mm which have a sustainable credit profile and have an important equity-upside.

Since 2012 it has closed more than 40 transactions in high growth, innovative companies that have benefit from the reduced dilution that Venture Debt offers by combining debt with equity remuneration. We generally back portfolio companies of leading local VCs but are open to finance standalone projects where their founders and initial business angels still retain 100% of the equity ownership We are sector agnostic, being specially comfortable with recurring revenues and attractive Long Term LTV/CACs ratios.

Inveready Venture Debt is the only Venture Debt fund based in Spain.

Discover our portfolio companies here
Tax Lease for Investors

Geography: Spain
Tickets: € 100,000 to € 1M
Thesis: Inveready has been a pioneer since 2010 in the design and execution of co-financing instruments, which allow companies in the Biotech Sector to obtain additional financing for their R & D projects and participating Investors, becoming tax holders of the incentives generated by Biotech companies during the collaboration period.

Investment opportunity with high returns in a short period of time, based on transparent legislation and regardless of the success of the R & D Project. Interested investors must have positive tax bases in the current year to take advantage of the proposed tax incentive.

Through a structure based on Economic Interest Groupings (AIEs), investors receive tax incentives consisting of tax deductions for R & D and negative tax bases in their Corporate Tax in proportion to the capital invested in the IEA.

The structure is based on third party legal opinions and a binding consultation with the Treasury, as well as with an external certification scheme for the assumed R & D expenses.

Access to excent certified R & D projects, clearly defined quantitatively and temporarily, coming from a selection of companies supported by venture capital and with previous certification experience, in a single financial instrument, which allows to diversify the risk.

The investor co-finances R & D projects in the biotechnology sector, mainly applied to human health.

In the last 3 years, INVEREADY has mobilized more than 30M € in R & D in the biotechnology sector through Economic Interest Groups.

TAX Lease for companies (funding source)

Geography: Biotechnology companies that do R & D in Europe.
Tickets: €500,000 – €4M per year in R & D expenditure.
Return: Up to 38% of the annual R & D expenditure of biotechnology companies.

The Inveready Group has been a pioneer since 2010 in the design and execution of co-financing instruments, which allow companies in the Biotec Sector to obtain additional financing for their R & D projects and participating Investors, becoming tax holders of the incentives generated by said companies during the collaboration period.

Through a structure based on Economic Interest Groupings (AIEs), companies receive up to 38% of the amount of annual R & D expenditure (indirect expenses included) in exchange for giving up their R & D tax incentives and their negative tax bases associated to the project. The company maintains ownership of the project and its results, as well as the direction and management of the project. It is a non-dilutive financing instrument, compatible with other forms of financing.

The structure is based on third party legal opinions and a binding consultation with the Treasury, as well as with an external certification scheme for the assumed R & D expenses.

In the last 3 years, INVEREADY has mobilized more than 30M € in R & D in the biotechnology sector through Economic Interest Groups.