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Investment Plan for Europe backs venture capital fund investing in innovative start-ups in Germany

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The European Investment Bank (EIB) will provide up to €50 million in risk financing to venture capital fund Wachstumsfonds Bayern 2 in Bavaria, Germany. The EIB contribution is backed the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. Wachstumsfonds Bayern 2 has an overall target size of €165m and will provide financial support to Bavaria's innovative start-ups, for example in robotics, digitisation, industrial manufacturing processes, artificial intelligence or life sciences, enabling them to maintain their early-mover advantage, scale up their business and continue their expansion.

An Economy that Works for People Executive Vice President Valdis Dombrovskis said: “I am glad to see the support from the European Fund for Strategic Investments for Bavaria's Wachstumsfonds Bayern 2, a venture capital fund that will help finance innovative German start-ups in fields like robotics, digitisation, industrial manufacturing, artificial intelligence or life sciences to grow their operations and maintain their competitive edge. Start-ups and innovations remain central to Europe's future prosperity and a key source of new jobs.”

The Investment Plan for Europe has so far mobilized €546.5 billion of investment, supporting over 1.4 million SMEs and start-ups across the EU. The press release is available online.

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