Key sectors attracting venture capital (
VC) investments in Spain are clearly led by the technology and telecoms sector (66%), followed by services and distribution (27%).
According to TTR, VC deals in Spain from January 2018 to June 2019 are distributed in sectors and subsectors as follows:
Do venture capital funds require any approvals before investing in your jurisdiction?
Foreign venture capital funds do not need to register with the Spanish Capital Markets Authority (“CNMV”) to invest in Spain. However, they must inform the Bank of Spain for statistical purposes.
If the venture capital fund is Spanish, it does not need any prior license (unlike fund managers) but it must register with the CNMV. As a matter of practice, the registration in the CNMV is not automatic, as the supervisor may require certain adjustments to the documentation of the vehicle.