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VC Investors

Geroa Pentsioak

www.geroa.eus ↗ ·San Sebastián ·Invests Seed – Series C+

Geroa Pentsioak is a San Sebastián-based occupational pension fund (EPSV) that supplements the public pensions of workers in Gipuzkoa. It is governed jointly by the employers' association ADEGI and the unions ELA, LAB, CCOO and UGT, and manages about €3.4B in assets. The fund commits around 10% of its assets to local companies. It does so through ORZA, a vehicle it co-owns 50%, and through a direct investment programme for Basque and Navarrese companies launched in 2016. That programme ranges from small stakes in newly created businesses and co-investments of up to €400K in young companies, run with Elkargi, to larger capital injections into established firms. Its holdings include a stake of about 6.7% in Holaluz and a co-investment with CDTI and Ampo in Bidasoa Metal 78.

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