Elaia Partners seals partnership with EIB-backed Neotec

Partnership

French venture capital firm Elaia Partners has agreed a partnership with Neotec Capital Riesgo, a Spanish fund launched by the European Investment Fund (EIF) and the Centre for the Development of Industrial Technology (CDTI), a Spanish public body under the Ministry of Science & Innovation, which has financial backing from industry.

Neotec was set up to support the creation and development of Spanish technology companies, by investing equity through Spanish or European venture capital firms.

Elaia Partners will invest alongside Neotec and will be responsible for identifying and managing the investments. Maurici Lucena, President of Neotec Capital Riesgo, said, “We think Elaia Partners will contribute positively and foster the creation and consolidation of new technology-based firms in Spain.”

Philippe Gire, Elaia Partners President, said, “Considering the difficult period faced by the financial sector, we are particularly proud to receive the commitment of such a prestigious partner. We are convinced that we will find technological jewels in Spain, such as NTRGlobal, in which we have invested since 2006. Our partnership with Neotec gives us the means to turn these companies into international leaders.”