Updated: April 20, 2026
ICF Capital logo
Corporate VC
N/a

ICF Capital

Barcelona, Spain

ICF Capital is a management company that invest in Catalan companies from seed to private equity stages.

Alumni startups

82

Total investments

95

Successful exits

9

About the program

Program type
Description

ICF Capital is a venture and growth capital management firm from ICF. ICF is a public financial institution founded in 1985 and owned by the Government of Catalonia. Our mission is to foster and improve access to funding for companies that operate in Catalonia in order to contribute to the growth of the region's economy while complementing the private financial sector. ICF provides funding to Catalan companies and entrepreneurs. They assist them in their development and growth, generating value for society at large. The institution offers companies a range of products and services in the area of corporate finance, focusing on loans and guarantees and venture capital investments. ICF operates via a parent company, two subsidiaries (IFEM and ICF Capital), and an investee (AVALIS). ICF, through IFEM, supports the creation and growth of innovative start-ups through the investment in venture capital funds for seed segments and co-investment with private investors through participative loans. ICF Capital, which manages closed-end UCITS and is authorized by Spain's National Securities Market Commission (CNMV), manages, nurtures, and advises public and/or private funds or venture capital firms that provide capital to Catalan companies. At present, ICF Capital directly manages 2 venture capital firms: ICF Capital Expansió II and ICF Venture Tech II.

Location

Investment offer

Can lead rounds
Yes
Lead preference
Sometimes
Funding requirements

We invest in companies across various investment stages, from seed to private equity.

Numbers

Total Investments
95
Lead Investments
14
Alumni Startups
82
Total Exits
9