Institut Valencià de Finances

The Institut Valencià de Finances (IVF) is the Valencia-based public financial agency of the Generalitat Valenciana. Its job is to develop business finance in the Valencian Community through loans, guarantees and venture capital. In venture capital it mainly works as a fund-of-funds. It has committed about €30M to eight early-stage funds, including K Fund II, Draper B1 III, Columbus Life Science Fund II, Invivo Ventures, Sabadell Asabys Health Innovation Investments, The Lab Ventures Fund I, Demium's Think Bigger Fund I and Conexo Ventures. Each fund must invest at least twice IVF's commitment in companies based in the region. It also sponsors the €60M Impulsa I fund managed by Oquendo Capital, which invests mainly through debt in established regional companies. For start-ups, it co-invests with private investors through participating loans of €50,000–300,000 per company, with a focus on technology-based and innovative projects. Its venture capital portfolio stood at €59.2M at the end of 2025.

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