Sodena in these cases is an active partner, unlike a lender or stock market investor. It is involved, without intervening in the day-to-day operational processes, in decision-making in the management bodies and is willing to assume greater risk than a financial/credit institution.

This financial and strategic support is aimed at small and medium-sized enterprises with growth potential and requiring an investment of more than 400,000 euros to carry out different actions:

• Progress in the development stages of their products until they reach the market.
• Growth organically and inorganically, through acquisitions of other companies.
• Integration projects with other companies or businesses.
• Shareholder changeover.
• Establishments of foreign companies requiring a local partner.
• Management buyout (MBO) or management buyout (MBI).

The characteristics of our participation in projects in the expansion launch phase are as follows:

• Take-up up to 45 %.
• Maximum term of 12 years.
• Presence on the Board of Directors.
• Divestment foreseen under the corporate agreement.
• Possibility of equity loan convertible into capital.

In certain cases this support may be complemented by the granting of equity loans under the following conditions:

• Interest rate composed of a fixed component plus a variable component linked to indicators of the company’s business and sometimes indicators of socioeconomic impact.
• Considered as equity for the purposes of capital reduction and liquidation of companies provided for in commercial legislation.
• Financial profitability for the property is not very high but it is for a lender (possible to get it if combined with capital).
• Subordinated loans.
• They may be capitalized.
• They may entail a presence on the Board of Directors.