Middle market investments by size of investment 2019 2021 2020 2022 Source: SPAINCAP/webcapitalriesgo 1,000 800 600 400 200 0 10 to 15 25 to 50 15 to 20 50 to 75 20 to 25 75 to 100 € Millions Middle Market Investments Last year, in the distribution of investments by size, the €10-€15M investment range stood out with 41 investments. Of these 41 investments, 19 were made in early stage companies, a reflection of the growing maturity of the entrepreneurial ecosystem. In this investment range, 24 of the 40 investments were led by international funds. The next largest number of investments were made in the €25-€50M range with 36 investments, eight more than in 2021. 24 of these 36 investments were led by international GPs. Read more Notes