Crescenta, Spain's first digital private equity manager, has launched a closed-end ELTIF allowing investors to commit from as little as €5,000. The fund targets a net annual internal rate of return of 15% and a 2x investment multiple over a 10-year life. Capital will be called and returned gradually throughout the fund's life.

Traditionally, Spanish private equity funds required a €10,000 minimum and investors with net worth above €100,000. Crescenta has lowered this floor while implementing a lighter eligibility test open to investors with at least €50,000 in gross annual income. Chief executive and co-founder Ramiro Iglesias stated the firm aims to democratize private equity investment.

President and co-founder Eduardo Navarro emphasized that the ELTIF structure maintains the traditional shape of private equity, focusing on closed-end funds with capital calls and distributions. The fund will hold a concentrated portfolio of five to seven funds from experienced managers, blending buyouts, growth equity, and secondaries. It offers global exposure across lower-mid, middle, and large-cap segments in sectors including healthcare, technology, and industrials.

The launch serves retail savers, high-net-worth individuals, and institutional clients such as financial advisers and family offices. Crescenta, founded in 2023 and supervised by Spain's CNMV, pairs digital access with an investor-education platform amid a broader industry race to open private markets to individual investors.