Pangram Capital Partners
Alternative Investment Vehicle
A pangram is a sentence that uses every letter of the alphabet
“The quick brown fox jumps over the lazy dog.”
What is Pangram Capital Partners?
ALTERNATIVE INVESTMENT VEHICLE
Pangram Capital Partners II, SCR-PYME, S.A. is an alternative investment vehicle managed by Quadriga Asset Managers. It offers customized and innovative short- and medium-term financing solutions to Spanish SMEs through a wide range of financial structures
Investment Thesis
Financing solutions through a broad array of financial structures: Equity, Debt, and/or Structured Solutions.
Risk Management
Identification of opportunities and design of innovative structures focused on clear exit strategies, aiming to optimize the risk-return profile of each investment
Unique Positioning
Differentiated from traditional bank financing, debt funds, and private equity, positioning ourselves in a unique market niche with a wide range of opportunities and limited competition
Differentiated Origination Process
Direct involvement of the team and its partners, leveraging extensive experience, a strong local network, and privileged market access — all of which provide a significant competitive advantage
Alignment and Experience
The investment commitment from the team members exceeds 5% of the fund size, significantly above the industry average
Tailored Financing Solutions to Maximize the Value of Your Project
We adopt a versatile and dynamic approach that allows us to adapt to the specific needs of each project. We specialize in creating customized structures that align shared interests to drive success.
EQUITY
Majority or minority stakes with preferred returns
30% + TARGET IRR
STRUCTURED SOLUTIONS
Hybrid structures that combine the security of debt with the upside potential of equity
20 - 25% TARGET IRR
DEBT
Overcollateralized financing with flexible principal and/or interest repayment structures
15 - 20% TARGET IRR
Our Approach
Short-Term Investments (2–3 years)
We focus on a short investment horizon, with a structure designed for a fast and efficient exit
Value Creation through Active Management
Our team is directly involved in managing operations, ensuring close and effective oversight
In-Depth Analysis of Management Teams
The key to our investments lies in the quality and capability of the management teams leading each project
Generalist Investment Approach
We do not limit our investments to specific sectors, allowing us to adapt to a wide range of business opportunities
Agile Decision-Making Process
Flexibility is at the core of our strategy, enabling us to act quickly at critical moments
Risk Management
HOW DO WE MANAGE RISK AT PANGRAM CAPITAL PARTNERS?
Risk management is the cornerstone of our investment process. We focus on protecting invested capital through clear and effective strategies that mitigate the inherent risks of alternative investments.
EXIT-ORIENTED APPROACH
Designing clear exit strategies to minimize timing and illiquidity risks
PROTECTIVE STRUCTURES
Overcollateralized debt structures with low LTVs, put option strategies, preferred returns, and other protective mechanisms
LOW LEVERAGE
Our fund’s investments maintain a very limited exposure to leverage
NON-CORRELATED TO PUBLIC MARKETS
Investments focused on the “real economy,” with limited exposure to market volatility
DIVERSIFICATION
Balanced use of financial structures, asset classes, and investment sectors
SUPPLY CHAIN RESILIENCE
Commitment to local reindustrialization by investing in Spanish SMEs
Commitment and Ethics in Every Decision
WE SUPPORT COMPANIES AND THEIR TEAMS THROUGHOUT BUSINESS DEVELOPMENT
We are committed to acting with the highest level of integrity and responsibility in all our decisions and operations
Multi-Strategic
Transparent
Adaptable
Agile
Collaborative
Comprometidos
Driving Value in Every Project
MORE THAN 1.3 MILLION SMEs IN SPAIN
SMEs are the backbone of the Spanish economy, yet many face difficulties accessing financing due to an increasingly concentrated banking system and limited access to capital
Why Choose Pangram ?
20 - 25% TARGET IRR
About Us
FULL COMMITMENT TO EXCELLENCE
Pangram has a leading investment team with over 70 years of combined experience in the market
Álvaro de la Guardia
FOUNDING & MANAGING PARTNER
Javier Jarabo
MANAGING PARTNER
Álvaro Alonso
PARTNER
Álvaro Beneyto
INVESTMENT ASSOCIATE
Cristina Laredo
INVESTMENT & OPERATIONS ANALYST
Beatriz Egea
LEGAL ADVISOR
Iñigo Resusta
PARTNER