The European Commission and the European Investment Fund (EIF) have today launched a pan-European venture capital fund-of-funds (VentureEU) with the aim of boosting investment in innovative start-ups and scale-ups across Europe.

The six participating funds (Aberdeen Standard Investments, Axon Partners Group, Isomer Capital, LGT, Lombard Odier Asset Management and Schroder Adveq) will receive €410 million in EU funding, with the goal of raising up to €2.1 billion in public and private investment. This is expected to generate approximately €6.5 billion in new investment for innovative start-ups and scale-ups across Europe, effectively doubling the total venture capital currently available on the continent.

The six funds will invest in a range of smaller funds, with each financing projects in at least four European countries. These smaller investment funds will contribute to the financing of small and medium-sized enterprises (SMEs) and mid-cap companies across various sectors, including information and communication technologies (ICT), digital, life sciences, medical technologies, and energy and resource efficiency, supporting a total of approximately 1,500 businesses.

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