Within the 2018-2023 Growth Plan of Grupo Castrosua, various investments in innovation, machinery, and infrastructure amounting to nearly 14 million euros will be undertaken.
To undertake a portion of these investments, in February 2019, Xesgalicia granted CASTROSUA and CARSA a participatory loan of 1.7 and 1.3 million euros respectively. Xesgalicia, as stated on its website, is a management company for Galician venture capital entities, focused on financing the business development of companies.
As of today, 2 million euros have already been disbursed, which is two-thirds of the committed capital corresponding to the first phase of the Financing Plan outlined in our 2018-2023 Growth Plan.
Xesgalicia’s investment in our companies was made through individualized participatory loans for the amounts mentioned, with a repayment period of 7 years, of which the first two are grace periods for principal repayment.
Xesgalicia’s participation was through Sodiga Galicia funds, a venture capital company that directs its investments towards companies with high growth potential directly linked to the economy and industry of Galicia.
This financing was made possible thanks to the guidance and advice of the Ministry of Economy, Employment, and Industry and one of its main instruments for the development of Galicia, the Galician Institute for Economic Promotion (Igape).
