03 March 2021

EU to offer €1bn boost for European VCs

Written By FinTech Alliance

EU to offer €1bn boost for European VCs

VC funds in Europe are set to receive €1bn in total from the European Investment Fund (EIF). 

In Brief: 

Sifted reports the news following an interview with EIF Chief Executive, Alain Godard.

The fund will allocate about a third of this boost to indirect equity investments. 

It will also be focusing on environmental projects. 

What does this mean? 

The investment in the European startup scene is a way to boost economic recovery following the impact of Covid-19. EIF is one of the main backers of VC funds in the EU, and it also supports SMEs through financial options like loans and credit guarantees. 

Read more here. 

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