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6 de June de 2024

GED acquires an equity stake in the aerospace company IENAI SPACE through a co-investment with the CDTI

• GED, through the GED Conexo Ventures fund, has invested jointly with the Centre for Technological Development and Innovation (CDTI, for its acronym in Spanish) in IENAI SPACE, a pioneering company in the development of the world’s first fully customisable electric propulsion system for satellites

• This project represents the 17th investment for the GED Conexo Ventures fund and is aligned with technological entrepreneurship, the focus of the portfolio managed by the vehicle

Madrid, June 06th, 2024.

GED, a private equity group specialising in the Spanish middle-market segment, through its Venture Capital fund, GED Conexo Ventures, has invested together with the Centre for Technological Development and Innovation (CDTI, for its acronym in Spanish), in IENAI SPACE, a pioneer Spanish company in the aerospace sector.

IENAI SPACE, an innovative aerospace company based in Madrid, has created its proprietary electric propulsion system to provide mobility to satellites in orbit weighing less than 300kg. The company also develops software solutions and tools that allow the simulation and planning of space missions, designing the satellite manoeuvres, which facilitates the operations of the propulsion systems.

IENAI SPACE’s main product is ATHENA, the world’s first electric thruster for satellites that can be adapted to the requirements and constraints of any mission and platform. The product is powered by a proprietary system based on an iteration of electrospray technology, making it a versatile solution designed to be highly scalable. ATHENA has passed critical tests and is expected to be commercially available in early 2025.

Supporting innovation

The acquisition of a stake in IENAI SPACE is an opportunity for GED Ventures to incorporate into its portfolio a highly innovative company, both for the sector as well as for its high-value solutions. This investment, the 17th of the GED Conexo Ventures fund, is in alignment with the principles of GED Ventures to support technology entrepreneurship, providing capital, expertise and global reach to drive sustainable growth in disruptive technology start-ups.

Joaquim Hierro Lopes, Managing Partner of GED Ventures, said: “We are thrilled to join IENAI SPACE, a company and a sector with a high potential that is already developing pioneering tools in such an innovative field as the aerospace sector. At Conexo Ventures we want to encourage and support teams of entrepreneurs as committed as IENAI SPACE to turn their innovative ideas into successful businesses.”

With €150 million under management in 2023, the GED Ventures area funds focus their investment in start-ups and entrepreneurs that drive technological and digital advancement, through new proprietary technologies and/or disruptive business models that contribute to the transformation of the traditional economy. The focus of the investments is on software companies, with scalable business models, and high entry barriers. In addition, GED Ventures implements risk mitigation strategies based on three key areas: team, technology and market validation, to accelerate emerging companies.

About GED

GED is an independent asset manager founded in 1996 that operates in the middle-market segment. It currently manages more than 1 billion euros through different Private Equity, Infrastructure and Venture Capital vehicles. GED has a universe of over 500 domestic and foreign investors, including mainly pension funds, funds of funds, insurance companies, family offices and financial institutions

For further information:
José Luis González / Alicia Hernández
Tel.: 91 702 71 70 / 661 850 384 / 698 198 093
E-Mail: jlgonzalez@kreab.com / ahernandez@kreab.com