Qatar Investment Authority and COFIDES have agreed to establish a $327 million joint investment fund to support strategic projects in Spain, with a focus on green transition, digital transformation, and technological innovation.

In a statement, QIA described the launch of the initiative as a milestone in the relationship between the two parties and in their shared commitment to advancing sustainable economic development and innovation in Spain.

The fund, named the Ispania Growth Fund, will be managed by Portobello Capital and will primarily target small and medium-sized enterprises operating in high-growth sectors, with the goal of supporting the next generation of Spanish companies.

Bilateral trade between Qatar and Spain reached around $1.5 billion in 2024, according to Javier Carbajosa.

Commenting on the agreement, Mohammed Saif Al-Sowaidi, CEO of QIA, said the partnership with COFIDES aims to support companies leading Spain’s economic transformation and reflects QIA’s confidence in Spain’s economic strength. He added that the deeper partnership would focus on supporting innovative and technology-driven sectors expected to shape Spain’s future growth.

COFIDES will contribute to the structure through its FOCO co-investment fund, a public investment vehicle designed to attract international capital into sectors considered critical to Spain’s future competitiveness.

Angela Perez, COFIDES Chair and CEO, said the initiative strengthens the institution’s partnership with QIA and marks a significant step in its co-investment strategy with international partners. She added that the alliance demonstrates the FOCO fund’s role in attracting global investors to support the expansion of high-potential Spanish businesses.

Meanwhile, Inigo Sanchez-Asiain, founding partner of Portobello Capital, said the initiative reflects a shared commitment to supporting Spain’s economic transformation through investment in innovative and fast-growing companies.

The fund’s investments are expected to support job creation, regional development, and the resilience of Spain’s SME sector, in line with the country’s broader economic priorities.