The employers’ association of the sector enters a new phase and changes the name of Ascri to SpainCap
The employers of private capital and ‘venture capital’ in Spain are renewing their corporate image. And it does so with the aim of conveying the dynamic role the sector can have for the national economy at a time of fear from the slowdown in growth, high inflation and the shift in monetary policy to deal with rising prices. to cope.
Against this background, the Spanish Association of Capital, Growth and Investment (AScri) has been renamed SpainCap, with the idea of promoting the evolution of the private capital sector towards investment “for a sustainable future”. During the presentation of the process of this new strategy – managed by the consultancy BrandFor – those responsible for SpainCap expressed the hope that the Create and Grow law, one of the regulations that will transform the sector, will be approved “for or after the summer”.
This new law, which closed the amendment period in February, will, among other things, allow private investors to invest in private equity funds from EUR 10,000, compared to the current EUR 100,000, provided they are advised and that the investment does not exceed 10%. of your portfolio.
Against this background, and taking into account the “traffic jam” of regulations Congress is currently experiencing, SpainCap believes that “at the earliest in the fall”, the first funds of this type could be available for sale among retailers.
“We will need a learning process, both in the sector and among the investors themselves, but it is a decisive step for the industry,” said Oriol Pinya, president of the association and CEO of Abac Capital. “We don’t want anyone who doesn’t understand the product to invest in it,” they urge the employers’ association, where they aim to “lead, influence and serve” themselves to make their positive impact on a “more sustainable and digital” economy.
The change of employers also comes at a time when the slowdown in economic growth, high inflation and the shift in monetary policy may hamper the activity of venture capital managers. However, from SpainCap, they indicate that the high liquidity levels could be optimistic in this sense, although they acknowledge that the average maturation period of the operations “will go longer”.
Another concern is the rise in interest rates in Europe, as possible falls in prices would force large institutional investors to withdraw their money from the funds by law.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
