EIB allocates €1bn to venture capital

The European Investment Bank has announced that it has allocated E1bn in venture capital as part of its initiative to support and develop Europe's early-stage investment sector. The money will be invested through vehicles managed by the European Investment Fund, in which the EIB owns a 61% stake. The EIB last made an allocation to the early-stage technology sector in September 2001 when it awarded a E1bn mandate to the EIF.

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• UK / Ireland