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Investment Plan for Europe backs fund to support health-care innovation

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The European Investment Fund (EIF) has committed €30 million to the BGV Fund IV by BioGeneration Ventures (BGV), a venture capital company supporting early-stage European biotech companies in health care. The EIF's commitment is made possible through a guarantee provided by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. The BGV Fund IV, which has closed at €140m, has already made four investments with a focus on entrepreneurial therapeutic innovation, with more to come. Economy Commissioner Paolo Gentiloni said: “I warmly welcome the Investment Plan for Europe's support for this EIF investment in BGV. It will support this specialised fund to finance early-stage European biotech companies operating at the forefront of health-care innovation.” The Investment Plan for Europe has so far mobilized €535 billion of investment across the EU, a quarter of which for research, development and innovation projects. The press release is available here.

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