According to a report published by the Instituto de Capital Riesgo (INCARI), Venture Capital investments have fallen by 17% in the first half of 2020, in comparison with the number of investments made in 2019. The report also states that the e-commerce sector continues receiving the highest number of investments in Spain for yet another year, closely followed by the ICT and Services sectors. Meanwhile, Cuatrecasas and Ernst & Young are leaders in professional advisory firms.
During the first half of 2020, the total number of investment operations in Spain, as recorded by the Instituto de Capital Riesgo (INCARI), is 346 operations, 17% less than those recorded in the same period of 2019. Following the same path as last year, Tthe investment phase Seed & Venture Capital stands out in the first position, registering 275 completed deals. This number represents 80% of the total number of undertaken deals, compared to the 289 deals registered in 2018.
On the other hand, the investment phase Real Estate Venture Capital & Infrastructure is positioned in third place, counting 41 acquisitions (12% of the total number of investments operations). Regarding Equity Crowdfunding, 29 investments were registered (8% of the total), whereas the Special Situations phase ranks fifth, registering 15 investment operations (4% of the total number).
2020 shows a continuity in the predominance of e-commerce transactions with 114 closings compared to 148 in 2019, i. e., 33% of the total number of transactions. As a result of the entry of the ICT sector in second position, both the services and industry sectors dropped one place, pushing the industry sector off the podium.
S1.2020 Buyout & Growth, Seed & Venture Capital, Special Situations and Private Debt rankings.
Advisors ranking (No. of deals) in S1.2020
The Instituto de Capital Riesgo (INCARI), founded in 2014 as a non-profit association, is an academic institution of private nature. The institution is supported by a group of professionals in law, finance and university teaching, who maintain a close relationship with the world of venture capital.
Its origins date back to 2006 when this group initiates a debate forum (or opinion group) based on the Revista Española de Capital Riesgo (Spanish Venture Capital Journal). Later on, the iniciative was followed by the Boletín de Actualidad del Mercado de Capital Riesgo (Venture Capital Market News Bulletin) and the Anuario de Capital Riesgo (Venture Capital Yearbook), a more recent addition.
The Institute’s applied research, the Advanced Online Course on Venture Capital and Entrepreneurship and the Expert Course on Company Valuation promote independent opinion, dissemination and diffusion of knowledge on venture capital and private equity activities.