Estonia Plans Startup Fund to Build Another Skype
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Estonia is seeking to revamp its venture capital industry to quicken the development of startup technology companies and help build “a second Skype” in the Baltic nation.
The country plans a new fund with 60 million euros ($81 million) for which government agency KredEx plans to use European Union support and a further 20 million euros ($27 million) coming from private investors, Andrus Treier, the head of KredEx, said in an interview in Tallinn on Nov. 5. The so-called fund of funds will be created next year and replace financing from state-owned Eesti Arengufond, which directly invests in companies, he said.