The Government Council of the Canary Islands (NC and PSOE) has opened this Wednesday a new step in the war to capture savings from companies destined for RIC for the tourism sector. The two large island operators, the Canary Islands subsidiary of Cardumen Capital, and RIC Private continue their bloodletting by raising capital. But RIC Private is losing because of the ambiguity of its managers and because no money is spent convincing the canaries. It is the background where Francisco López, from Lopesan, is.
Cardumen, with some Israeli mathematics in the background, has in its orbit companies linked to the Círculo de Empresarios de Gran Canaria and EFCA, the powerful employer of the family business of the Canary Islands. RIC Private are the declassed ones from El Goro, in Telde, the Capisa and some firms on the Acosta Matos path, which is gabled.
Thus, before leaving, the Government of the Canary Islands has declared the suitability of the issuance of various financial instruments to materialize funds from the Reserve for Investments in the Canary Islands (RIC) by the companies Viola Teidea and Cardumen Capital in the rehabilitation of the Corralejo hotels. Beach, Fuerteventura and Hotel Puerto, in Mogán, for just over a million euros.
The first of the companies is the one that has submitted the application and the one that has promoted the constitution of the second, which acts as a financial entity. The projects to be executed are specifically estimated at 1,27 million euros in the case of the Majorera tourist facility, and 800.000 euros in the case of the Puerto de Mogán hotel.
With this project, the Government has approved during the legislature 17 of the 19 files for the indirect materialization of the RIC, for an amount of 256 million euros.
The Economic Law of the Economic and Fiscal Regime of the Canary Islands provides that the provisions of the RIC can be materialized in the subscription of any financial instrument issued by financial entities as long as the funds raised are destined for the financing in the Canary Islands of private projects, whose investments are suitable according to the Law, it being necessary that the emissions be supervised by the Government of the Canary Islands and have a binding report from the State Tax Administration Agency.
Cardumen Capital has announced its participation in the financing round of Alison.ai, a platform that uses Artificial Intelligence to analyze advertising creatives. In the Basque Country, Cardumen Capital, a European-Israeli Venture Capital manager, has launched, together with the Basque Culinary Center, an investment fund with the aim of investing in AgriFoodTech startups. This fund has the participation of the Department of Economic Development, Sustainability and Environment of the Basque Government, in its comprehensive strategy 'The Food Global Ecosystem' and the Provincial Council of Gipuzkoa.
