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 high-tech enterprises.
The European Commission has named six fund managers to run VentureEU: Aberdeen Standard Investments, Axon Partners Group, Isomer Capital, LGT, Lombard Odier Asset Management and Schroder Adveq. The investors will receive €410 million from the EU common budget to invest in the European venture capital market. The funds are aiming to raise up to €2.1 billion of public and private investment.
VentureEU will provide new sources of financing, giving European small and medium-sized enterprises (SMEs) and mid-caps the opportunity to grow into world-leading companies. Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, said: “VentureEU will increase the amount and average size of venture capital funds. It will help our high-potential start-ups stay and grow in Europe, taking full advantage of the Single Market.” The European Commission is targeting at least 1,500 businesses.
The six funds will take stakes in a number of smaller investee funds and cover projects in at least four European countries each. These investee funds will help finance innovators from a range of sectors including information and communication technologies (ICT), life sciences, medical technologies, resource and energy efficiency.
Do you want to grow and innovate? Looking for finance for cutting-edge technologies? The MSC R&D team is here to support you in obtaining funding for your business, contact us today!