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STATEMENT OF THE ASCRI CHAIRMAN, MIGUEL ZURITA

01/04/2020

We are fighting the virus!!

From the Association, we affirm the role of civil society, of companies and of our sector in the face of the tragic situation we are facing. We are part of the solution to this crisis, from both a health and an economic perspective. It is with great pride that we observe how we are reacting, not only responsibly but also showing solidarity. Many of the portfolio companies of Private Equity & Venture Capital funds operate in essential sectors, while others have completely stopped their business activities since the state of alert was initiated, and the goal is for them to be able to reopen as soon as conditions allow.

We have every confidence that we will overcome this health crisis which, with lives at stake, is the absolute priority. But once this has been achieved, as soon as possible, we need all companies to begin recovery and to start creating jobs again. Our activity is currently focused on ensuring the survival of our companies. Developing contingency and continuity plans, focusing on generating liquidity and, unfortunately, taking painful measures the sole objective of which is ensuring survival and the possibility of a strong comeback. The value of our sector, with its long-term vision, active management and availability of funds in our firms will be highlighted at this time. The alignment of interests that has characterized our industry is the best guarantee for unity of action among investors, managers, advisers and workers.

Managers and portfolio companies are also reacting with numerous solidarity initiatives aimed at alleviating the needs arising out of the health emergency and human plight that we are suffering now. These include actions such as monetary and food donations; manufacture of face masks, respirators and medical supplies; funding for scientific research on coronavirus; free lodging; free hygiene products for rest homes; online volunteer initiatives; artificial intelligence platforms that serve society and predictive models in the fight against the virus; psycho-educational webinars; lending transport vehicles; among many other actions.

We are greatly appreciative for each and every one of them for their effort and generosity and we support everyone else who is putting initiatives into place so that we can continue to keep up with the demands of Spanish society. Thanks to Miura Private Equity and Citri&CO, Landon Investments and Sercotel, Banc Sabadell and Carethy and Psious, All Iron Ventures and Aplanet, Samaipata, Altamar Capital Partners, Oquendo Capital and HIG, as well as Único and Mr. Wonderful, SeedRocket 4Founders and Pigari, October, MCH Private Equity and Altafit, Aurica Capital and Delta Tecnic, Grupo Larrumba and Flex, GPF Capital together with Quimi Romar and The Natural Fruit Company, Kibo Ventures and Bipi, Carto and Odilo, Bolsa Social, Corpfin Capital and El Fornet, Caixa Capital Risc and Psious, Validated ID, Sheetgo,Clevernet, Simple Cloud and Competia, Suma Capital, Nazca Capital as well as Foodbox and Phibo, Meridia Capital, Worldcoo and Hotel Barcelona, Portobello Capital Gestión and Eysa or Repsol Corporate Venture and Recreus, and many more…

There will be many more initiatives! Thank you, much encouragement and take care!

Miguel Zurita, Chairman of ASCRI