Business
#VentureEU: €2.1 billion to boost venture capital investment in Europe's innovative start-ups
The European Commission and the European Investment Fund (EIF) have launched a Pan-European Venture Capital Funds-of-Funds programme (VentureEU) to boost investment in innovative start-up and scale-up companies across Europe.
The announcement was made at a press conference with Commission Vice President Jyrki Katainen, Internal Market, Industry, Entrepreneurship and SMEs Commissioner Elżbieta Bieńkowska, Research, Science and Innovation Commissioner Carlos Moedas and European Investment Fund Chief Executive Pier Luigi Gilibert.
The Commission and the EIF have announced six participating funds to receive EU support in their mission to invest in the European venture capital market. Backed by EU funding to the tune of €410 million, the funds are aiming to raise up to €2.1 billion of public and private investment. In turn this is expected to trigger an estimated €6.5bn of new investment in innovative start-up and scale-up companies across Europe, doubling the amount of venture capital currently available in Europe.
More information is available in a press release and FAQs together with two factsheets on VentureEU and the broader EU ecosystem for companies.
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