Spanish biotech industry and the increasing number of SMEs suffer from a lack of specialized venture capital support. According to ASEBIO (2012 Industry Report), funding is the major limiting barrier for small biotech companies.
Market and business opportunity
The Spanish market is comprised of approximately 600 small companies (<250 employees). Many of them, despite having attractive business plans are waiting for new funds to start growing or are just running out of cash. Most of them are targets for GFB. Another part of GFB targets will come from seed funding: in 2011, 69 start-ups were founded in the Spanish industry. The GFB portfolio will consist of companies with attractive business plans, highly motivated and qualified teams and satisfactory agreements for our investments.