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Catalan Institute of Finance (ICF), founded in 1985, is a public financial institution 100% owned by the Government of Catalonia. ICF’s main objective is to foster the Catalan economy by supporting the country’s business base, complementing the role of the private financial sector. Projects are financed by means of loans, guarantees and venture capital investments. ICF funding needs are fully satisfied through its activity in domestic and international capital markets. The highest decision-making body of the Entity is the Governing Board. Currently the CEO is Josep-Ramon Sanromà Celma, the general director of Business Financing is Anna Álvarez Santiago, the general director of Corporative Business and Capital Markets is Joan Carles Rovira Garcia and the general director of Finance and Control is Christophe Canler. ICF is expected to become the first Catalan public bank in 2015. During the first semester of 2014, ICF facilitated loans and guarantees to 801 companies totalling 377 million euros.
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Functions
ICF’s main objective is to foster the Catalan economy by supporting the country’s business base, in particular SMEs and self-employed, complementing the role of the private financial sector. ICF finances projects via loans, guarantees and venture capital investments, among others.
Subsidiaries and investee company
The ICF Group includes two subsidiaries: IFEM (Financial Instruments for Innovative Companies) and ICF Capital. IFEM manages European funds addressed to funding companies of new creation and/or in their initial phases.
ICF Capital,(Managing Society of Entities of Venture Capital), manages, promotes and advises venture capital funds and firms, whether public or private, that invest in Catalan companies. Apart from ICF’s two wholly owned subsidiaries, the institute also has a stake (alongside other financial institutions and businesses) in Avalis de Catalunya, SGR. Avalis is a reciprocal guarantee company, a public-private venture set up by the Catalan Government in 2003, which provides access to credit by SMEs and self-employed by providing technical and economical guarantees for banks.