EU invests in German venture capital market
News from 2018-03-12 / Group, Domestic Promotion
BMWi, BMF and KfW welcome EIB to venture capital fund Coparion
The Federal Ministry for Economic Affairs and Energy (BMWi), the Federal Ministry of Finance (BMF) and KfW collectively welcome the forthcoming participation of the European Investment Bank (EIB) in the Coparion investment fund. The EIB's participation will push the fund volume up to EUR 275 million, strengthening the financing of companies in the stages of start-up and early growth. The EIB's investment amounting to EUR 50 million has been made possible by the European Fund for Strategic Investments (EFSI). The EFSI is the main pillar of the European Investment Plan, which sees the EIB Group and the European Commission working together as strategic partners to reinforce the competitiveness of the European economy.
KfW Executive Board member Dr Ingrid Hengster says: "For many years now, KfW has been supporting young growth-oriented tech companies with capital to help them make progress. To this end, we are constantly improving our approaches to financing. By establishing and investing in Coparion two years ago, we built a new, close to the market foundation for our successful co-investment approach. We are looking forward to further strengthening this foundation with the EIB as a powerful new European partner."