Roca Group has launched a new corporate venturing fund to invest €25 million (£21 million) in entrepreneurial projects that provide innovative solutions for the bathroom sector.
Through this fund, called Roca Group Ventures, the company plans to allocate between €500 thousand and €2 million per project, to finance those initiatives that demonstrate the greatest potential. Roca Group estimates that, within five years, the investment portfolio will comprise of 10 to 15 companies.
For the launch of Roca Group Ventures, the global bathroom manufacturer will work with Alantra, a financial services and asset management firm. Alantra will advise the fund in the deal flow process.
Prioritising start-ups that focus on environmentally friendly practices, Roca Group has defined four business areas of interest in the search of opportunities: wellness and smart bathrooms; new businesses and materials; energy efficiency and rationalisation of water consumption; and, lastly, operational excellence in its industrial processes.
Albert Magrans, CEO of Roca Group, explained that Roca Group Ventures seeks to “generate a hybrid entrepreneurial model that combines the advantages of a large company (resources, scale, knowledge, experience, marketing) with the innovation, technology, motivation, agility and talent of a startup.” Roca Group Ventures will be a global fund seeking to invest in startups all over the world.
A new executive figure will be appointed from the organisation to act as ventures head, coordinating the collaboration with different specialists and managers of the company, accelerators, incubators and other partners to help identify and develop projects.