NRW.Bank sets up E40m vc fund

North-Rhine Westphalia (NRW) Bank has set up a E40m venture capital fund for investment in the North-Rhine Westphalia region of Germany. The fund will invest a maximum of E1.5m of expansion capital per investment round, and no more than E3m overall, in companies operating in the sectors of ICT, life sciences, optics and materials. The fund, which is financed by the parent NRW Bank, aims to assist the currently slow growth of new technology companies. NRW.BANK only takes syndicated minority stakes in young companies, which have already had a first venture capital funding round. Engagements are set to run for three to five years, the fund has a lifespan of eight years.

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