Provincial Council of Biscay creates new venture capital fund

Cuatrecasas advised Seed Capital Bizkaia, SGEIC, S.A., a management company of the Provincial Council of Biscay, on creating the Biscay Anchor Fund, a new venture capital fund that will act as a fund of funds (FOF).

This FOF, the first of this type for the Provincial Council’s management company, will enable new projects to be attracted and anchored to the province of Biscay—as well as strengthening and revitalizing seed funding and venture capital investment in the region—through the investment in specialized project companies that in turn invest in this type of projects.

The team advising on this transaction was made up of Cuatrecasas lawyers José Ramón Berecibar, Santiago Bayo and Daniel Acedo.