E.U. Partners With Venture Capital Firms to Boost Tech Investment

The E.U. has been heavily criticised for not doing enough to bridge the technological gap between it and other global superpowers.

The European Union has announced that it is teaming up with 71 investors that will co-invest in innovative tech projects in the region. Together, the venture capital funds, public investment banks, foundations, and corporate venture funds represent over €90 billion of assets.

The so-called “Trusted Investors Network” was launched on Monday to help finance “high-risk deep tech companies that have a great potential, but often struggle on the European market to find the right investors.”

Union investment comes from the European Innovation Council Fund, which was established to support start-ups that have the potential to be scaled in “unicorns” — companies with a valuation exceeding €1 billion. So far, it has invested nearly €1 billion in 251 companies, and attracted over €4 billion of co-investments.

SEE: European investment shows ...