CriteriaCaixa plans to invest in technology businesses linked to defense

BarcelonaCriteria, the investment holding company of the La Caixa Foundation, plans to enter cybersecurity and technology businesses linked to defense in its broadest sense, according to the group's CEO, Àngel Simón.

During a dialogue organized by the Spanish Confederation of Managers and Executives (CEDE) in Barcelona, ​​​​Simón stated that the intention of the company he has managed since January of last year is to have invested a total of €8 billion in its diversification, private equity, and real estate portfolio. To date, in the last fifteen months, it has allocated €5 billion to these initiatives, he added.

Having ruled out entering businesses such as gambling, alcohol, or weapons, Criteria's CEO recalled the European strategy of increasing its commitment to defense. And this fits into Criteria's plans, since technology is one of society's objectives, and "civil technology cannot be separated from defense."

In this strategy within its plan until 2030, the objective is to enter SMEs with potential so they can grow and contribute to reducing inequality, he explained. Within its plan aimed at 100 unlisted companies, a total of 20 are expected to be direct investments, such as those announced in Europastry or Celsa; and the other 80, through funds, a channel to which they have already allocated 750 million.

This leg of the strategic plan, which aims to reach a total portfolio value of 40 billion euros by 2030, will receive 4 billion euros in this period, half through direct investment (Europastgry or Celsa) and the other 50% through indirect investment. Simon stated that Criteria "is already one of the leading private equity funds for SMEs."

The CEO of La Caixa's investment holding company explained that investing in SMEs is the best way to contribute to the improvement of society, since they account for the bulk of industrial and business activity. Criteria's role, he added, is to help these types of companies consolidate their growth.

Throughout the strategic plan until 2030, a large portion of the returns obtained from the strategic portfolio (CaixaBank, Naturgy, and Telefónica) will be allocated to increasing private equity investments, diversification (Veolia, Puig, and ACS), and the real estate sector (InmoCaixa and Colonial), in addition to supporting La'.