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EU launches fund-of-funds to stimulate European VC markets

April 19, 2018

The European Commission and European Investment Fund announced the creation of VentureEU – a fund-of-fund initiative intended to increase the availability of venture capital for the continent’s startup community. Through the VentureEU effort, the EU will invest approximately €410 million (approximately 507.8 million USD) across six funds run by established European fund managers. The EU has two agreements already in place with the additional four anticipated by the end of 2018.

The EU intends for their €410 million investment to leverage approximately €1.7 billion in private and other funds. In total, the EU believes this will infuse approximately €2.1 billion (nearly 2.6 billion USD) in VC funding to increase the size of European VC funds and increase the availability of late-stage capital. PitchBook analysts contend that a lack of late-stage capital and the relatively small size of Europe’s VC funds have created constraints on the potential of the continent’s VC market.

 

venture capital, international