Key Takeaways
- Sector: Aerospace & Defense.
- Geography: Spain.
Analysis
Nazca Capital, a prominent Spanish private equity firm with a 25-year track record, has secured a €294 million commitment from the Centre for the Development of Technology and Innovation (CDTI) through its INNVIERTE program.
This significant investment positions CDTI as the anchor investor in Nazca's latest initiative, the Fondo Nazca Aeroespacial y Defensa INNVIERTE I FCR, marking one of the most substantial public endorsements for a private-sector-managed fund in Spain's aerospace and defense sectors.
With this backing, Nazca aims to raise a total of €600 million, establishing the fund as the largest of its kind in Spain and among the top in Europe.
The fund's primary objective is to channel capital into strategic industries requiring innovation, industrial consolidation, and technological autonomy, with a particular focus on companies developing dual-use (civil and military) solutions.
Nazca has assembled a dedicated team of 16 investment professionals to manage the fund and is forming a high-level Advisory Board comprising experts in the aerospace and defense sectors.
The first closing of the fund is anticipated before the summer, coinciding with its initial investment.
This phase will include participation from CDTI and private investors with longstanding relationships with Nazca.
Subsequently, Nazca plans to initiate a new fundraising round targeting national and international institutional investors, capitalizing on the growing interest in the aerospace, defense, security, and dual-use technology sectors.
Carlos Carbó, Chairman of Nazca Capital, stated, "The support of CDTI as anchor investor is a significant milestone that validates our thesis and allows us to accelerate the fund’s deployment at a crucial moment for the sector. We appreciate their trust and commitment to an initiative that aims to transform and scale the defense, security, and aerospace industrial ecosystem through investment in dual-use technologies, innovation, and national and international business consolidation."
José Moisés Martín Carretero, Director-General of CDTI, added, "The aerospace and defense industry is at a key moment and needs new instruments for growth and consolidation. At CDTI, we will support ambitious initiatives like this fund to promote public-private cooperation."
This collaboration between Nazca Capital and CDTI underscores a shared commitment to bolstering Spain's position in the global aerospace and defense landscape through strategic investments and innovation.