Aura JV formed for Iberian internet investment

La Caixa, AC Ventures and antfactory have formed a joint venture to invest in new economy business opportunities in Spain and Portugal.

Spanish financial institution La Caixa, AC Ventures, the venture capital arm of Andersen Consulting, and antfactory, the investment vehicle, have launched Aura, an internet investment joint venture.

This new joint venture, Aura, expects to invest up to $30m in the first year-end and aims to invest in and develop new economy companies in both Spain and Portugal. In a statement the companies said that Aura will look to invest in businesses that can benefit from the global resources and capabilities of La Caixa, Andersen Consulting and antfactory.

La Caixa is one of the largest banks in Spain with 4,200 branches and 6,500 auto-tellers. Andersen Consulting, the $8.9bn global management and technology consulting organization, will change its name to Accenture on 1 January 2001. The firm is building a network of businesses to meet the full range of client needs – consulting, technology, outsourcing, alliances and venture capital. antfactory focuses on new economy investing. The company has over $550mm of investment capital and a portfolio of 24 investments. Its strategic investors include CVC Capital Partners, Allianz Capital Partners, Nikko Securities, and GBS Finanzas.