Venture Capital & Private Equity Differentiating Through its ‘Venture Capital and Private Equity Economic and Social Impact study on Middle Market Investments in Spain’, published in 2018, SPAINCAP studied the impact of Venture Capital and Private Equity in 186 companies and confirmed the following conclusions: 3. BusinessConsolidation 4. Job Creation 5. Acceleration ofBusiness Growth 2. Added Value 1. AlternateFinance Alternate Financing Venture Capital and Private Equity is one of the basic pillars of financing for small and medium-sized companies, acting as an essential complement to bank financing. Added Value Capital injections are complemented by strong business development support. Venture Capital and Private Equity firms are not limited merely to financing, but also offer the experience of their teams to: (1) offer strategic advising, (2) establish credibility with third parties, (3) help increase the professionalism of management teams, (4) provide an external business focus, and (5) convey best practices from other sectors. Business Consolidation Venture Capital & Private Equity has proven a key tool for driving the growth of companies and making companies more competitive. Venture Capital & Private Equity contributes to this growth in two ways: (1) driving growth in sales, turnover and EBITDA; and (2) in build-up transactions, ensuring continued growth in size through the acquisition of other companies, reducing sector fragmentation. Job Creation Companies backed by Venture Capital & Private Equity create more jobs, and this job creation persists over time. Looking at a broader time horizon, through 2015, the 186 companies that received Venture Capital & Private Equity investments increased their workforce by 27,485 workers, representing an aggregate increase of 30%, compared to the 2,000 jobs lost in the control group (-2.8% aggregate). Acceleration ofBusiness Growth The capital injection and business management support provided by the Venture Capital & Private Equity strengthened growth of the portfolio companies. In individual terms, each portfolio company increased sales by 17.1 million within three years from the investment, compared to 1.5 million for the control group companies. If the analysis is extended through 2015, this difference between investee and control group companies increases to 12.2 million euros per company.