Barcelona’s digital ecosystem moves 1,200 million euros in one year

Catalan Economy

04 Apr 2017

Barcelona's digital ecosystem, taking into consideration investment rounds and sales (exits), moved around 1,200 million euros in 2016. This is a record figure for the ecosystem and includes large operations such as the sale of Privaliato Vente Privée for some 500 million euros, Social Pointto Take Two for 234 million, or Olapic to Monotype for 120 million, as well as capital increases of Scytl, Letgo-Wallapop, and smaller investments in more embryonic companies.

The Venture Capital Maturity in Spain report —done by Webcapitalriesgo with the collaboration of Enisa, Acció, Barcelona Activa and Bcn Tech City—points out that venture capital in Spain between 2011 and 2016 “lived its period of greatest growth and transformation”, and draws attention to the presence of over 100 international investment funds.

Miguel Vicente, president of the digital company cluster Barcelona Tech City, states, “The fact that companies are being sold is good news for the ecosystem, it means there are returns for shareholders and they can invest once again.” He recognises that the previous year in Barcelona was, “a positive exception, but we hope it repeats itself”. Vicente also stresses that now “entrepreneurs have a far more global vision, and there are more disruptive projects, but there is still room for a lot more progress”.

The sector is in a maturing and growth phase, with entrepreneurs with experience, final demand, investors that cover all points of the chain (business angels, venture capital, first series ...) although there’s a lack of capacity in the larger rounds, more exits and private investors.

Source: La Vanguardia

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