Qatar Investment Authority (QIA) and COFIDES, Spain’s state-owned financial institution, have launched a $327 million (€300 million) joint investment fund to support strategic projects in Spain, focusing on green transition, digital transformation, and technological innovation.
The new vehicle, the Ispania Growth Fund, strengthens bilateral investment cooperation and reflects a shared commitment to sustainable economic development and innovation in Spain.
The fund will primarily target Spanish small and medium-sized enterprises (SMEs) operating in future-oriented sectors.
It aims to support their expansion, accelerate innovation, and help cultivate the next generation of national champions capable of competing in global markets.
The fund will be managed by Spanish investment firm Portobello Capital and will focus on high-impact, scalable investment opportunities aligned with Spain’s broader economic transformation agenda, particularly in industries driving the green and digital transition.
COFIDES will contribute to the initiative through its Co-Investment Fund (FOCO), a public investment platform designed to attract international capital into strategic sectors that enhance Spain’s long-term economic competitiveness. The structure is expected to facilitate co-investment opportunities with global partners in high-growth sectors.
Mohammed Saif Al Sowaidi, QIA CEO, said that, “Our partnership with COFIDES seeks to support companies at the forefront of Spain’s economic transformation and reflects QIA’s strong belief in the resilience of Spain’s economy. Through this deeper and more diversified collaboration, we will work closely to support innovative, technology-driven sectors that will shape Spain’s economy for years to come.”
Angela Perez Chair and CEO COFIDES
“This initiative deepens our already strong alliance with QIA and represents a major milestone in our co-investment strategy with leading international partners. It is also further proof of the success of FOCO, managed by COFIDES, as a tool for attracting international investors to contribute to scaling up high-potential Spanish companies.”
Inigo Sanchez-Asiain, founding partner at Portobello Capital, added that, “We are proud to partner with QIA and COFIDES in launching Ispania Growth Fund,” noting that this initiative reflects a shared commitment to strengthening Spain’s economic transformation by supporting innovative and high-potential companies. At Portobello Capital, we look forward to deploying our local expertise and investment platform to help scale businesses that are driving the green and digital transition and shaping the next generation of Spanish industry.”
The launch of the Ispania Growth Fund further reinforces QIA’s long-term investment strategy focused on supporting transformative sectors and fostering international partnerships that drive sustainable economic growth.
The fund is expected to contribute to job creation, regional development, and the strengthening of Spain’s SME ecosystem in line with national economic priorities.
The name “Ispania” reflects both historical and cultural ties, symbolizing a bridge between Qatar and Spain while underscoring the fund’s objective of facilitating cross-border investment in areas of shared strategic interest, particularly in technology, sustainability, and innovation-driven industries.
