A new investment vehicle dedicated to edge data centres on the Iberian Peninsula is being prepared by Actyus, the alternative investment arm of Andbank España, together with Adequita Capital and Valencia-based Nethits Telecom Group. The fund, with a planned size of around €20 million, is awaiting authorisation from Spain’s securities regulator, the CNMV.

What has been announced

The vehicle is named Adequita Centros de Datos Edge Iberia FCRE and is structured as a Spanish venture capital fund. According to the Spanish business daily El Español, which first reported the plan on 20 October, it will invest in small data centres located close to end users, with Spain as the main market and Portugal as a secondary one. The stated aim is to build regional digital infrastructure serving companies and public administrations.

The partners have divided the work clearly. Actyus will act as fund manager, while Andbank will market the product to high-net-worth clients and institutional investors. Adequita Capital is the founding financial partner and is responsible for structuring investments and investor relations. Nethits, founded in 2006, brings telecoms engineering, fibre and systems integration experience. Adequita and Nethits are already partners in NxN Datacenters, a data centre venture formed by the two companies.

The numbers – and what is still missing

The headline figure is the planned fund size of about €20 million. Beyond that, the partners have not published the number of sites, their locations, the IT capacity per facility, a construction timetable, the minimum investment or the fee structure. DatacenterDynamics, which reported the fund in English on 23 October, noted that potential uses include industrial applications, enterprise digital services, real-time analytics and some AI workloads.

Until the CNMV approves the fund, it cannot be marketed, so its final size and investment rules may still change.

Regulatory backdrop in Spain

The launch comes while Spain works on a royal decree on data centre efficiency and energy. As reported by El Español and DCD, the draft would apply to facilities above 1MW and require 80% of electricity consumption to be covered by new renewable generation, matched on an hourly basis. The competition and markets regulator, the CNMC, has asked for more flexibility on that requirement, and the industry association Spain DC has warned that a large share of projects planned to 2030 could be put at risk. The text is still in the legislative process.

Why it matters for modular and edge in Europe

Most European data centre finance flows into hyperscale and large colocation campuses, where single projects run into hundreds of millions of euros. A fund of €20 million is small by comparison, but it is purpose-built for the lower end of the market: distributed sites near users, where capital needs per project are modest and deployments are often prefabricated or modular to keep build times short.

Packaging edge infrastructure into a regulated fund sold through a private bank also tests whether wealthy individuals and mid-sized institutions will back regional digital infrastructure directly. If it succeeds, similar vehicles could emerge in other European markets where edge operators struggle to secure funding at the scale of individual sites.

The Spanish decree is a further variable. If the 1MW threshold survives, many edge facilities could sit below it, while larger campuses face tougher energy conditions – a factor that may influence where developers and investors put capital in Iberia over the next few years.

Sources

• El Español – Actyus (Andbank), Adequita y Nethits lanzan un fondo de 20 millones para crear centros de datos en España y Portugal
• DatacenterDynamics – Actyus, Adequita, and Nethits launch fund for Edge data centers
• DatacenterDynamics (Spanish edition) – Actyus, Adequita y Nethits lanzan un fondo para centros de datos edge