Skip to content
Government-backed FundPuts its own capital into companiesLAST VERIFIED Oct 2026 · 7 SOURCES

Desarrollo de Inversiones Riojanas (DIR)

Public company majority-owned (over 50%) by Agencia de Desarrollo Económico de La Rioja (ADER), Gobierno de La Rioja

Also known as Ricari, DIR Inversiones Riojanas, Desarrollo de Inversiones Riojanas, S.A.

Logroño investment company (ex-Ricari, est. 1990), public since 2026 after ADER took over 50%; takes temporary equity stakes and lends to La Rioja companies.

HEADQUARTERS
Logroño, Spain
FOUNDED
1990
AUM
—
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
3 people

Focus

STAGES
SeedGrowth
SECTORS
Industrial & ManufacturingFood & AgricultureConsumer & E-commerceSoftware & SaaSHealthTech
ASSET MIX
Direct investmentsPrivate credit
GEOGRAPHY
Spain

Overview

Desarrollo de Inversiones Riojanas, S.A. (DIR) is the La Rioja investment company formerly called Ricari, which dates its origin to 1990. In May 2026 the La Rioja government reported that a capital increase fully subscribed by ADER, the regional development agency, gave ADER more than 50% of the capital, making the company a regional public company; it was renamed and its corporate purpose widened to include investment attraction (Invest in La Rioja) and management of the TECHRIOJA science and technology park. Its statutes set its main purpose as temporary stakes in unlisted non-financial, non-real-estate companies, plus participative and ordinary loans, with special attention to projects from La Rioja. Its site lists temporary equity, loans, participative loans and co-investment as instruments, and names 19 companies financed.

Investment thesis

Companies with a registered office or production centre in La Rioja, a viable profit-oriented business model, growth capacity through expansion, diversification or internationalisation, an innovative or differentiating element and a committed founding team; excludes purely financial or real-estate activities.

PORTFOLIO (15)

  • Melt
    Consumer & E-commerce
  • Nodux Health
    HealthTech
  • MascoBeauty
    Consumer & E-commerce
  • Climind
    Software & SaaS
  • Hunty
    Consumer & E-commerce
  • Crown Sport Nutrition
    Consumer & E-commerce
  • Idóneo
    Mobility & Logistics
  • Norpoo
    Industrial & Manufacturing
  • Aldos Metal
    Industrial & Manufacturing
  • Chapeaux Wines
    Food & Agriculture
  • Urban Roosters
    Media & Entertainment
  • Red Karaoke
    Media & Entertainment
  • SpectralGeo
    Food & Agriculture
  • Double Cork
    Industrial & Manufacturing
  • Fuss
    Software & SaaS · since 2017

People

  • Víctor de Pablo Montes
    Legal representative · source
  • Belinda León Fernández
    Board member (Consejera de Economía, Innovación, Empresa y Trabajo Autónomo, Gobierno de La Rioja) · source
  • Luis Pérez Echeguren
    Board member, representing ADER · source

Links

Frequently asked questions

Desarrollo de Inversiones Riojanas (DIR) is a government-backed fund based in Logroño, Spain, founded in 1990.

Yes. Desarrollo de Inversiones Riojanas (DIR) invests its own capital in private companies.

Desarrollo de Inversiones Riojanas (DIR) invests at Seed and Growth stages in Industrial & Manufacturing, Food & Agriculture, Consumer & E-commerce, Software & SaaS and HealthTech.

Key people at Desarrollo de Inversiones Riojanas (DIR) include Víctor de Pablo Montes (Legal representative), Belinda León Fernández (Board member (Consejera de Economía, Innovación, Empresa y Trabajo Autónomo, Gobierno de La Rioja)) and Luis Pérez Echeguren (Board member, representing ADER).

Desarrollo de Inversiones Riojanas (DIR)'s investments include Melt, Nodux Health, MascoBeauty, Climind, Hunty, Crown Sport Nutrition, Idóneo and Norpoo, among others.

Desarrollo de Inversiones Riojanas (DIR) states that it accepts submissions through its official contact page.

No. Desarrollo de Inversiones Riojanas (DIR) invests its own capital and does not raise money from outside investors.