EU-Backed Fund to Invest 2.1 Billion Euros in Startups
- Program will raise 6.5 billion euros for European companies
- Aberdeen Standard, Axon, Schroders among managers selected
Photographer: Chris Ratcliffe/Bloomberg
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The European Union will back a new 2.1 billion euro ($2.6 billion) pool of financing to support venture capital investments in the region.
It will provide 410 million euros for a new program, VentureEU, which will invest in six venture capital fund of funds. The additional money will come from other private and public sources, the European Commission said in a statement Tuesday