ASCRI, the Spanish venture capital and private equity association, aims to promote the contribution of private equity to the economy and to the growth of SMEs in Spain.
Madrid, 7 February 2017. Loreto Mutua, a non-profit organisation dedicated to social welfare in Spain, has joined ASCRI, the Spanish “Association of Capital, Growth and Investment” which represents the venture capital and private equity sector in order to promote and reinforce the contribution of private equity to the Spanish economy.
Loreto Mutua thus joins the group of major Spanish investors that have associated themselves with ASCRI since it launched its Limited Partners programme in 2016 seeking to raise the profile of private equity with the authorities, Government, institutions, investors, entrepreneurs and the media. Currently the member institutions of ASCRI have 2,133 companies in their portfolio, 92% of which are SMEs. These companies employ a total of more than 417,000 workers, with a turnover in excess of €48 billion a year.
Jon Aramburu, the Loreto Mutua CEO, said “Joining this association gives us institutional recognition of a position that we already had in the market as one of the leading financial institutions in terms of volume of assets managed in social welfare in Spain. Being one of the first three companies to join this organisation and the first within complementary social welfare, shows the importance not just of Loreto Mutua but also of our sector, which year after year is generating more and more interest in the Spanish investment market.”
ASCRI (Asociación Española de Capital, Crecimiento e Inversión or “Spanish Association of Capital, Growth and Investment”) was created in 1986 as a non-profit organisation representing the Spanish venture capital and private equity industry. ASCRI brings together almost 100 national and international venture capital and private equity firms and more than 50 service providers, promoting and ensuring professional standards among its members: transparency, best practices and good governance.
About Loreto Mutua
Loreto Mutua specialises in social welfare, with more than 40 years of experience in the market for retirement savings products to complement the state pension system: mutual insurance, associated plan, personal plan and company plan. It is currently among the leading institutions and financial groups dedicated to social welfare in Spain in terms of volume of assets managed for this purpose, handling more than €1.378 billion. It has over 24,500 members and, in the last decade, has managed the benefits of more than 10,000 people – the equivalent of €1.3 billion.