Inversion y Gestion de Capital Riesgo de Andalucia, S.A. (Invercaria ) is a Spanish regional public / semi-public venture capital firm founded in 2005 and owned by the Junta de Andalucia (the regional government of Andalusia, Southern Spain), serving as the regional venture-capital investment arm of the Andalusian regional government. The firm invests in start-ups as well as expansion-stage companies operating in technological, strategic, and innovation-oriented sectors primarily based in Andalusia (Spain's second-largest autonomous community by population, spanning Seville, Malaga, Granada, Cordoba, and other Andalusian cities). Invercaria operates as one of Spain's regional public-venture-capital entities alongside similar regional entities in Catalonia, Madrid, Basque Country, and other Spanish autonomous communities. The firm has historically experienced several governance / management controversies and scandals as documented in Spanish press coverage (relating to Andalusian regional government administration). Detailed current aggregate AUM in EUR denominations, fund vintages, and comprehensive portfolio-company disclosures are partially documented in Spanish / European financial-industry databases for this specific URL.