- The Council of Ministers has authorised the Ministry for Digital Transformation and Civil Service, via the Spanish Agency for Technological Transformation (SETT), to invest in the Spanish funds Axon Innovation Growth II and BSV IV Ariadne, with €85 million and €40 million, respectively.
- Both funds will support startups and scale-ups focused on transformative technologies — from cloud computing and big data to artificial intelligence (AI), the Internet of Things (IoT), and cybersecurity.
- SETT is executing both investments through the Next Tech facility, which aims to boost funding for high-growth technology companies.
The Council of Ministers has authorised the Ministry for Digital Transformation and Public Service, through the Spanish Agency for Technological Transformation (SETT), to invest in the Spanish venture capital funds Axon Innovation Growth and Big Sur Ventures, with investments of €85 million and €40 million, respectively. The objective is to support startups and scale-ups whose business models are focused on transformative technologies.
Axon Innovation Growth invests in Spanish and Southern European companies operating in areas such as cloud computing, big data, artificial intelligence, software-as-a-service for process optimisation, energy and storage, the Internet of Things, and robotics, among others. Through this public investment of €85 million in the fund Axon Innovation Growth II FCRE, SETT aims to boost SMEs with validated products or business models, strong growth trajectories, and a clear international outlook.
The €40 million investment in Big Sur Ventures (BSV) will support its fund BSV IV Ariadne, which targets Deep Tech and Digital Tech startups developing solutions in microelectronics, photonics, nanotechnology, new materials, quantum technologies, cloud computing, AI, cybersecurity, and advanced software.
Both investments are made through the Next Tech facility, a public-private initiative aimed at enhancing access to finance for tech-sector startups and scale-ups. This support is provided through both direct co-investment in companies and indirect investment via regulated funds or financial intermediaries, under the supervision of the Spanish National Securities Market Commission (CNMV), the European Securities and Markets Authority (ESMA), or other relevant authorities.
In addition to these initiatives, SETT also manages two key financial instruments to strengthen Spain’s technology ecosystem: PERTE Chip, focused on microelectronics and semiconductors and Spain Audiovisual Hub, which promotes the digital transformation of the audiovisual sector.
