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Spain’s deputy prime minister visits Massachusetts as new trade office and $200M venture fund are announced
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Summary
At the Massachusetts State House, Deputy Prime Minister Carlos Crepa and state hosts highlighted an expanded trade relationship, the opening of a Spanish trade office and a Spain-supported $200,000,000 venture capital fund intended to link Spanish life-sciences startups with Boston’s biotech sector.
Carlos Crepa, Spain’s deputy prime minister, visited the Massachusetts State House on Wednesday and met with state hosts and business leaders as the two sides highlighted steps to deepen trade and investment ties.
A State House moderator welcomed Crepa and said the visit built on centuries of relations between Spain and the United States. "We had a very productive discussion talking about the possibilities for trade and investment between Massachusetts and Spain," the moderator said. The moderator added historical context, saying "250 years ago, Spain provided the equivalent of a $3,000,000,000 investment" to the colonists.
The moderator said trade between Massachusetts and Spain "totals more than $750,000,000 a year" and announced the recent opening of a Spanish trade office in Massachusetts alongside the founding of a Spain-supported $200,000,000 venture capital fund. "This is a fund that is supported by Spain, which will connect Spanish life sciences startups with the Boston biotech and life sciences ecosystem," the moderator said, adding expectations that the fund would help grow companies and create jobs in both economies.
Crepa thanked hosts and business leaders and described the bilateral link as "a treasure that we want to keep on growing." He framed the trade office and venture capital fund as "first few steps" toward expanded collaboration and noted that the United States is the largest foreign direct investor in Spain.
The moderator also highlighted existing Spanish investment in Massachusetts’ clean-energy sector, saying that, through companies including Iberdrola and Avangrid, wind generation is "powering 400,000 homes and businesses" in the state. The moderator said the clean-energy example illustrated the broader potential for partnership across life sciences, financial services and entrepreneurship.
The event concluded with the moderator opening the floor for questions and offering thanks to Crepa and other attendees, including former U.S. Ambassador to Spain Alan Salama, who was introduced as present. No formal agreements or votes were recorded during the session; the announcements described were presented as new or recent initiatives by the speakers.
