Governor, Spanish deputy prime minister tout new trade office and $200 million venture fund

The governor welcomed Carlos Crepo, Deputy Prime Minister of Spain, to the Massachusetts State House on a visit focused on expanding trade and investment ties between Spain and the state. "It's a pleasure to welcome to the State House today the Deputy Prime Minister of Spain, Carlos Crepo," the governor said, citing longstanding ties between Spain and the United States.

The governor framed the visit as a practical step to deepen economic links: Massachusetts and Spain recently celebrated the opening of a Spanish trade office in Boston and the founding of a $200 million venture capital fund, a Spanish-supported vehicle intended to connect Spanish life-sciences startups with Boston's biotech and life-sciences ecosystem. "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 governor said, noting expectations that the fund "will grow companies and create jobs for both of our economies."

Carlos Crepo, Deputy Prime Minister of Spain, thanked the hosts and said the United States is the largest foreign direct investor in Spain; he described the trade office and the fund as "first steps" to grow bilateral investment with Massachusetts. "With these key deliverables that we are presenting today, not only the opening of the trade office but also these venture capital fund, we hope that this will keep on growing," Crepo said.

Both speakers highlighted Massachusetts's strengths in life-sciences and innovation. The governor called Boston "the global hub to life sciences" and said Spain has a robust biotech industry that presents opportunities for partnership across life sciences, financial services and entrepreneurship.

The governor also cited past and present ties in broader terms, recalling historical Spanish assistance during the American Revolution and noting contemporary clean-energy investments by Spanish companies. He said Spain and Spanish-linked companies such as Iberdrola and Avangrid now provide wind power to an estimated 400,000 homes and businesses in Massachusetts, pointing to clean energy as another area of partnership.

Crepo closed by inviting the governor to visit Spain to continue growing the relationship. The public remarks ended with applause and an offer to take questions from the assembled business and institutional audience; no formal agreements, votes or legislative actions were recorded during the event.