Andbank España’s alternative investment manager, Actyus, which oversees Adequita Capital and Nethits Telecom, is establishing a venture capital fund with an anticipated capacity of €20 million ($22.3m) to build Edge data centers in Spain and Portugal. The fund, called Adequita Centros de Datos Edge Iberia FCRE, is centered around the establishment and growth of Edge data centers in the Iberian Peninsula, with Spain as its main market and Portugal as a secondary market.
The specifics regarding any upcoming investments have not been disclosed. – Andbank España. El Español reports that the launch is awaiting approval from the National Securities Market Commission (CNMV). Actyus will oversee the fund’s management, while Andbank will be responsible for its distribution among high-net-worth individuals and institutional investors.
Adequita Capital will act as a primary financial partner and builder from the start. Nethits will provide its knowledge in telecommunications, fiber optics, and technology systems integration. This coincides with Spain’s process of finalizing a royal decree that suggests new performance and sustainable energy provision standards for extensive data centers.
Among the suggested measures is the obligation to generate 80 percent of electricity usage from new renewable sources, with each hour being certified. The National Commission for Markets and Competition (CNMC) has proposed easing this obligation to prevent possible inefficiencies.
However, industry representatives have expressed concerns about the potential impact on the feasibility of certain projects. The regulation is currently going through the legislative process, and its final terms could still be altered. Since its establishment in 2006, Nethits, a Valencia-based company, offers a variety of network, telephony, IPTV, and Wi-Fi solutions, many of which are tailored towards the hotel industry.
In 2023, Nethits and asset management company Adequita Capital established data center firm NXN through a joint venture.
