The European Investment Fund (EIF) and Resilience Partners, a private debt firm, have partnered to provide financing support and flexibility to high-growth Spanish and European SMEs. In view of the large demand from companies with financial needs, the Resilience Partners Fund II, S.C.A., SICAR has achieved a first close and expects to mobilise a total of EUR 150-200M in financing to these companies. The operation, named Minerva 2 is a synthetic securitisation (with no asset assignment) and is being backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
Resilience Partners Fund II is backed by the EIF and several institutional and private investors. The EIF, part of the European Investment Bank Group (EIB and EIF), has continuously supported Resilience Partners’ team since the first fund. The success of Resilience Partners Fund I has validated that the demand for these types of solutions has outgrown the first fund size.
The EIF has formalised its commitment to Resilience Partners Fund II, S.C.A., SICAR due to the impact its financing can have in the real economy. Specifically, Resilience Partners finances SME growth leaders in their segments, which find it more difficult to obtain financing from traditional sources. Therefore, these investments contribute to the companies’ growth in Spain and Europe. In particular, this financing helps Spanish companies, characterised by a smaller size than their European counterparts, increase their average size and solidness significantly. Resilience Partners may finance companies at different stages of their growth, financing products adapted to their needs at each specific time, becoming a long-term partner.
Resilience Partners continues steadily in its investment process. Through Resilience Partners Fund I, it has successfully closed 13 investments in Spanish companies. A new investment has been closed through the recently launched Resilience Partners Fund II. Through these investments, a network of companies has been developed which jointly have obtained EUR 693M in revenues during 2020 (+11% vs. 2019), contributed to more than 850 jobs (+6.3% vs. investment date), and have a positive impact in the real economy, reaching companies in the different industries in which they operate.
With the support demonstrated by the EIF and other investors, Resilience Partners Fund II will be able to continue providing tailor-made financing solutions to Spanish and European SMEs which cannot find suitable solutions in the traditional financing formulas, more so, taking into account the uncertainty caused by the actual crisis.
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