Catalonia's ICF Cuts Annual Venture Capital Contributions to €16 million

The Institut Català de Finances (ICF) announced that its yearly investment in private venture‑capital funds will fall to about €16 million in 2025, down from €33.4 million in 2023. The reduction follows a strategic shift aimed at preventing the dilution of ICF’s impact on Catalan companies as fund managers launch ever larger, more international vehicles.

ICF’s current plan stabilises annual injections at roughly €15‑16 million across seven external funds, while the public fund continues to strengthen its own portfolio of Catalan‑focused venture funds, such as Lidera Grans Empreses‑Arrels and Lidera Tecnologies Avançades‑Fita, and will add three new funds covering health, impact‑investment and capital expansion.

The policy is driven by the ICF leadership, headed by Vanessa Servera, with Economy and Finance Councilor Alícia Romero outlining the rationale and the expected annual volume.