Ibercaja prepares the leap into venture capital with a minimum entry ticket of 20,000 euros

Ibercaja Gestión anticipates its debut in venture capital in 2026, when it plans to launch its first fund of these characteristics. The manager of the Aragonese bank is waiting to receive authorization from the National Securities Market Commission (CNMV) to begin operating in private markets. “We want to complete the value proposition to our private banking clients,” commented the director of Ibercaja’s Asset Management and Insurance Area, Luis Miguel Carrasco.

During the presentation of the market perspectives to take stock of the manager in 2025 and share the economic and market forecasts for 2026, the investment arm of the Aragonese entity explained that the vehicle will function as a fund of funds and that it will have a minimum entry ticket of 20,000 euros, although there will be different types to admit larger investors.

In the absence of knowing more details, he explained that real estate will not be one of the main themes of the fund, since the Spanish participant usually already has real estate positions. In this regard, they have highlighted that they have years of experience in alternative assets through their pension funds and that for their launch they will seal an alliance with a partner whose name they have not yet revealed. “We believe that we are going to achieve an acceptable figure in a short period of time,” he remarked.

With one month left to close the year, the assets under management have experienced an increase of 11.3% throughout 2025, to 28.7 billion, an evolution that is explained by the behavior of client resources and long-term investment. Specifically, this item has increased by 20% compared to the 4% recorded in the granting of credit. In a scenario of interest rate cuts by the European Central Bank (ECB), they have opted to lengthen durations and quality corporate bonds. “The banks in the 2% work very well,” said Carrasco.

Lily Corredor, general director of Ibercaja, has explained that since 2022 the star product for clients has been fixed income, with a preference for quality debt (‘investment grade’) over high yield (‘high yield’). In fact, medium and long-term private fixed income products are the ones that have received the greatest number of launches, up to a total of twelve in the middle of a “frantic year.”

In this context, looking to 2026, it has emphasized the need to build diversified and balanced strategies between fixed and variable income after anticipating that part of its investment strategy for the coming months will pivot around technology and Artificial Intelligence (AI). Ibercaja’s investment director, Beatriz Catalán, has conveyed her optimism regarding the forecast of discrete, but resilient growth in the United States; while in China financial stability will prevail after the stimuli injected into its economy with which it seeks to return to the path of growth.

Catalán believes that the North American economy will once again lead global growth driven by the favorable “triumvirate” of monetary policy, fiscal policy and deregulation and with a Federal Reserve that should continue with rate cuts, without ruling out a drop to 3%.