Eu Wants To Meat $2.6 Billion Into Europe’S Vc Funds To Closed Investment Gap Alongside U.S.

From VentureBeat:

Hoping to laissez passer on Europe’s surging startup ecosystem a shot of adrenaline, the European Union today announced the creation of a massive novel fund-of-funds plan dubbed VentureEU.

So far, the European Union has committed $505 1000000 of its ain budget to the project, which directly faces the challenge of raising the residual of the $2.6 billion fund from somebody investors.

VentureEU volition include vi funds to invest inwards VCs that are focused on such areas every bit digital services, medical technologies, life sciences, in addition to energy. The plan was officially unveiled today at the EU’s Digital Day inwards Brussels.

“In company capital, size matters!” said Jyrki Katainen, the European Commission’s VP for Jobs, Growth, Investment, in addition to Competitiveness, inwards a statement. “With VentureEU, Europe’s many innovative entrepreneurs volition presently boot the bucket the investment they involve to nowadays in addition to grow into global success stories. This agency to a greater extent than jobs in addition to increment inwards Europe.”

The plan is at ane time a massive task in addition to an indication of the huge challenges Europe faces every bit it seeks to turbocharge its startup economy....MORE