At Sodena we provide initial equity or equity loan financing for the creation of a new company or the start-up of a business activity in early stages.
Our objective from the Seed Capital area is to cover the financing needs of new or recently created business projects with high growth potential for Navarre, with an innovative character, with differentiation with respect to products or services already available on the market, which allow new market niches to be addressed and the creation of qualified employment for Navarre.
The type of financial support varies according to the needs, the stage of development and the typology of the projects.
Seed stage projects: equity loan with the project itself as the only guarantee or equity participation:
- Maximum amount: 100,000 euros (except in specific cases, where this amount may be exceeded).
- Interest rate: fixed + variable depending on activity and results. The sum of both interest rates shall not exceed 10 %. With an arrangement fee of 0.5%.
- Total amortisation term of 5 – 8 years and 1 – 3 years grace period.
- Approval: Sodena Management Committee.
- Subordinated loans.
- Loans that can be capitalized.
Projects in the start-up phase: minority and transitional equity participation
- Maximum investment of 500,000 euros and minimum of 100,000 euros, which may be exceeded in projects considered strategic, with high growth potential or other characteristics that make them relevant.
- Sodena’s shareholding in the company will be between 5 % and 45 %.
- The equity participation in the companies is temporary for a period of up to 12 years.
- A shareholders’ agreement will be signed with the promoters, primarily with an agreement to buy back shares.
- Approval: Sodena Board of Directors.
The promotion of these new innovative companies is carried out through different figures:
- Boosting innovative start-ups by providing financial support through:
- Direct capital participations from Sodena, via Navarra or the Navarra Tech Transfer
- Participatory lending.
- Boosting the food chain:
- Through the support of projects from the innovation accelerator for the agri-food sector, Orizont.
- Promotion of technology-based companies through collaboration with universities, ADItech and CEIN.