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Five EU Member States and the European Investment Bank Group (European Investment Bank, European Investment Fund) have signed today the European Tech Champions Initiative (ETCI) mandate, a Fund of Funds that will channel much-needed late-stage growth capital to promising European innovators.
ETCI will deepen Europe’s scale-up venture capital (VC) markets by bridging gaps in financing availability, especially for companies seeking to raise amounts of over €50 million. It will help create an asset class for European institutional investors to diversify their portfolios, thus maintaining a continuous flow of funding to European scale-ups. Such positive self-sustained dynamic in the European high-tech landscape will nurture home-grown innovation and entrepreneurship.
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