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| Spanish Association of Venture Capital (ASCRI) | |
|---|---|
| Name | Spanish Association of Venture Capital (ASCRI) |
| Native name | Asociación Española de Capital, Crecimiento e Inversión |
| Founded | 1995 |
| Headquarters | Madrid, Spain |
| Region served | Spain |
| Members | Venture capital firms, private equity firms, fund managers, institutional investors |
Spanish Association of Venture Capital (ASCRI) The Spanish Association of Venture Capital (ASCRI) is a trade association representing private equity, venture capital, growth capital and infrastructure investment firms in Spain. It serves as an industry body engaging with regulatory bodies, financial institutions, and corporate networks across Madrid, Barcelona and other Spanish financial centers. ASCRI connects market participants, publishes data and advocates on policy affecting investment funds, entrepreneurship and innovation.
ASCRI was established in 1995 amid a period of financial liberalization and market integration that followed Spain's entry into the European Union and precedes milestones such as the adoption of the Eurozone currency. Early membership included firms active in the wake of the Information Age boom and the expansion of technology clusters around Barcelona and Madrid. Over its history ASCRI has interacted with institutions such as the Comisión Nacional del Mercado de Valores, the Banco de España and international networks including the European Private Equity and Venture Capital Association and the International Finance Corporation. Its evolution paralleled episodes such as the Dot-com bubble, the Global financial crisis of 2008–2009 and subsequent recovery phases driven by startups linked to accelerators like Wayra and incubators connected to universities such as the Complutense University of Madrid and the University of Barcelona.
ASCRI's mission aligns with objectives found in trade associations within capital markets: to promote investment in Spanish companies, to professionalize fund management, and to improve access to capital for growth-stage enterprises near innovation hubs like Basque Country and Catalonia. It aims to influence regulatory frameworks shaped by directives from the European Commission and statutes such as Spanish corporate law administered by the Cortes Generales. ASCRI supports objectives that intersect with initiatives from the European Investment Bank, the European Central Bank and national agencies engaged in competitiveness and entrepreneurship.
Membership comprises private equity houses, venture capital firms, fund-of-funds, institutional investors, family offices and service providers headquartered in cities including Valencia, Seville and Bilbao. Governance typically features a board of directors, an executive committee and working groups that coordinate positions on tax matters, fund structuring, and investor relations; these bodies liaise with stakeholders such as the Ministerio de Asuntos Económicos y Transformación Digital and pension funds like the Fondo de Reserva de la Seguridad Social. ASCRI has collaborated with legal firms, audit firms and consultants that engage with regulations comparable to those overseen by the European Securities and Markets Authority.
ASCRI provides services common to industry associations: networking forums, training programs for fund managers, model documentation for limited partnerships, and benchmarking tools used by participants similar to members of the British Private Equity & Venture Capital Association and the American Investment Council. It organizes sectoral working groups on themes such as fintech, biotech and renewable energy involving ecosystems exemplified by Navarra's renewable projects and Madrid's startup clusters affiliated with institutions like IE Business School and ESADE. The association also curates initiatives that mirror international programs from institutions like the Organisation for Economic Co-operation and Development and the World Economic Forum.
A major ASCRI function is issuing periodic industry reports, statistical bulletins and market surveys that compile fund-raising, investment, and exit data comparable to publications by the European Venture Capital Association and the National Venture Capital Association. These reports analyze activity across sectors such as software, biotechnology, energy, and consumer goods, and often reference deal activity involving multinational acquirers like Telefonica, BBVA, Santander and private equity investors similar to CVC Capital Partners or KKR. Data outputs inform stakeholders including sovereign funds, regional development agencies like the Instituto de Crédito Oficial and academic researchers at institutions such as the IESE Business School.
ASCRI engages in policy advocacy before national and supranational bodies, contributing position papers on taxation, carried interest regimes, and incentives for early-stage investing that intersect with directives from the European Union and coordination with national ministries. It participates in consultations alongside organizations such as the European Investment Fund and lobbies for frameworks that encourage exits through public markets including the Bolsa de Madrid and alternative trading venues like BME Growth. ASCRI's advocacy has addressed issues raised by fiscal authorities, competition regulators like the National Commission on Markets and Competition, and initiatives promoting entrepreneurship in collaboration with chambers of commerce such as the Cámara de Comercio de España.
The association organizes conferences, seminars and investment forums that bring together limited partners, general partners, corporate executives, and policy-makers from entities such as the European Commission, the Organisation for Economic Co-operation and Development, and multinationals headquartered in Spain. Events commonly feature panels on exit strategies, co-investment, and cross-border transactions involving jurisdictions such as France, Germany, Portugal and the United Kingdom. ASCRI also coordinates awards and recognitions for fund managers, portfolio company achievements and institutional investors, modeled on prize formats used by industry bodies like the Private Equity Awards and regional startup competitions including South Summit.
Category:Finance in Spain Category:Private equity Category:Venture capital