EU: €2.1bn to boost venture capital investment in Europe's innovative startups
europa.eu
europa.eu
> 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 2016, venture capitalists invested about €6.5 billion in the EU compared to €39.4 billion in the US.
> Moreover, VC funds in Europe are too small – €56 million on average compared to €156 million in the US.
> 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 small and medium-sized enterprises (SMEs) and mid-caps from a range of sectors such as information and communication technologies (ICT), digital, life sciences, medical technologies, and resource and energy efficiency.