The financial group GVC Gaesco and the venture capital firm Next Tier Ventures have teamed up to boost a line of venture capital funds aimed at investing in technology startups.
The National Securities Market Commission (CNMV) has given the green light to set up the new fund Next Tier GVC Gaesco S.C.R.S.A.. GVC Gaesco brings soundness and expertise over 50 years in asset management, while Next Tier Ventures contributes its track record in technology investments.
A Strategic Alliance
The first fund of this line will invest up to 50 million euros in startups linked to Artificial Intelligence (AI) and will support the selected companies from their start to mature stage. “Our partnership with Next Tier Ventures stands for a further step in GVC Gaesco’s commitment to venture capital,” explains Paco Illueca, investment director of GVC Gaesco.
“Our goal is to create the longest Artificial Intelligence funds line from Spain. This technology will change our work styles and communication towards a faster and better world. Countries that invest in AI will become more competitive and grow faster,” states Patricia Pastor, general partner at Next Tier Fund.