Image: European Council
European Investment Bank and member states commit €3.75 billion for ‘fund of funds’
The EU’s investment bank and five of its member states have launched a new venture capital fund of funds, with initial commitments totalling €3.75 billion, to help European “technology champions” grow.
Launched on 13 February, the European Tech Champions Initiative is designed to “help plug financing gaps and thus reinforce Europe’s strategic autonomy and competitiveness”, the European Investment Bank said.
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