01
Opportunity development
Introduce companies, projects and opportunities aligned with the Group’s areas of activity.
FOCO · Co-Investment Fund
Invest and grow in Spain through a structured process.
Tudel Finance supports companies and investors in preparing, reviewing and organizing requests addressed to COFIDES under FOCO, through affiliated reviewers and professionals.
Preliminary analysisDocument reviewProfessional coordination
FOCO
Co-investment for strategic projects in Spain
Initial endowmentup to €2bn
FOCO participationup to 49%
Minimum transaction€10m
Figures stated in the January 2024 information note. Subject to verification of current rules, eligibility and approval.
What is FOCO
A public instrument designed to attract foreign investment into Spain.
The FOCO Co-Investment Fund was created within Spain’s Recovery, Transformation and Resilience Plan and is managed by COFIDES.
According to the information note, its purpose is to mobilize foreign capital toward companies and strategic projects in Spain, including the green and digital transitions and other priority sectors.
Co-investment
Transactions are structured jointly with a foreign co-investor.
Minority position
FOCO retains a minority position and, according to the note, total public capital may not exceed 49%.
Foreign capital
In the structures described, the foreign co-investor contribution must be at least equal to the Fund contribution.
Direct and indirect investment
The instrument may invest directly in companies or indirectly through funds and investment vehicles.
Tudel Finance role
Support, review and preparation of the request.
Tudel Finance does not replace COFIDES and does not decide eligibility or approval of the intervention.
Our role is to support the client in preparing the file and coordinate affiliated professionals and reviewers so the request is clear, complete and properly organized.
Project pre-analysis
Preliminary review of corporate structure, investment, sector and project objectives.
Document review
Review of corporate, financial and project documentation through specialized professionals.
Request structuring
Organization of the dossier, financial data and supporting documentation.
Operational coordination
Support across the process and with any requested document integrations.
Corporate setup in Spain
Where appropriate, assistance in organizing a corporate structure consistent with the investment project.
Ancillary support
Coordination of professional or guarantee-related needs connected with the transaction, depending on the case.
How it works
An orderly route from initial analysis to submission.
The goal is to reduce errors, gaps and inconsistencies before the dossier is submitted for evaluation.
01
Initial meeting
We review the company, project, investment and existing or planned presence in Spain.
02
Screening
We preliminarily review transaction size, co-investor, sector and corporate structure.
03
Review
Affiliated reviewers assess documentation, business plan and dossier sustainability.
04
Dossier preparation
We organize the request and any required integrations before submission.
05
Support
We support the client throughout the evaluation process and subsequent document requests.
Who may be interested
Projects with a genuine investment outlook in Spain.
FOCO is aimed at significant transactions and projects aligned with strategic priorities of the Spanish economy.
The information note indicates €10 million as the minimum transaction size.
The structure described requires a foreign co-investor whose contribution is at least equal to that of the Fund.
According to the note, FOCO remains a minority participant and total public capital may not exceed 49%.
Sectors
Priority areas and strategic projects.
The information note identifies several priority sectors without necessarily limiting intervention only to those areas.
Agri-foodEnergyGreen transitionDigital transitionSustainable mobilityInfrastructureSustainable agricultureBiotechnologyProductive modernization
Why Tudel
A structure that understands both business and finance.
Multidisciplinary approach
Coordination of financial, corporate, administrative and project expertise.
Presence in Spain
Local operations and understanding of the Spanish corporate and professional environment.
Affiliated reviewers
Involvement of specialized professionals in reviewing and structuring applications.
One point of contact
The client can coordinate the process through a dedicated Tudel contact.
Preliminary assessment
Could your project fit within FOCO?
Send us a summary of the transaction. The Tudel team will perform an initial review to assess whether there is a basis for further analysis.
Submit the project →Before you begin
Tudel Finance support does not imply automatic approval, a right to co-investment or a guarantee of funding. All decisions remain with COFIDES and the other competent parties.
The information on this page is based on the STG Conseil information note dated 18 January 2024 regarding RDL 8/2023 and is provided for general descriptive and commercial purposes. Requirements, amounts, operating methods and conditions must be checked against the COFIDES rules and documentation in force when the request is submitted.