AXIS Participaciones Empresariales SGEIC S.A. S.M.E., (“AXIS”) is wholly owned by Instituto de Crédito Oficial of Spain, a state-owned bank, with the legal status of the corporate state-owned entity, attached to the Ministry of Economy and Business of Spain, via the State Secretariat for Economy and Enterprise Support. AXIS is a Venture Capital manager providing enterprises with capital and quasi-capital instruments to finance their growth. Constituted in 1986, with Registration Number 1, AXIS is one of the sector’s oldest operators. On May 24, 2013, created FondICO Global, FCR, (“Fond-ICO Global”) with the aim of investing in private equity firms that invest in Spanish companies. Fond-ICO Global is a private equity entity regulated by the Stock & Exchange Market Spanish Commission (CNMV) and therefore its investments are subject to compliance with law 22/2014,12th November, which regulates private equity entities, as well as any other new legislation which comes into effect. AXIS, Fond-ICO Global’s manager acting in accordance with its objectives issues tender processes with the objective of committing capital from Fond-ICO Global to a maximum of one (1) private equity fund focused on Incubation related investments or investment vehicle focused on Incubation related investments (“Fund” or “Funds”). The selection of the participants managing those Funds is implemented through a qualification and evaluation process which adheres to the principles of equality, transparency and fair competition and whose development, implementation, scope and limits are solely governed by the in those terms set out in the official Basis published by AXIS. Fond-ICO Global may commit in each Fund up to 49% of the total target Fund size, with a maximum commitment of seven (7) million euros and 20.0x the Fund’s Management Company and/or management team’s commitment in the Fund. Fond-ICO Global assigns the percentage commitment and maximum commitment based on the participant’s requested commitment and the Fund target size mentioned in the Proposal.
Travel Tech 1 SCR was selected by AXIS in its 9th Fond-ICO Global Tender (July 2017) and committed to investing the 49% of its Total Committed Capital, 7M euros.