European Union: First Six Artificial Intelligence And Blockchain Technology Funds Backed By InnovFin Raise A Total Of EUR 700m – Schoenherr Attorneys at Law

   2020-12-02 11:12

European Union: First Six Artificial Intelligence And Blockchain Technology Funds Backed By InnovFin Raise A Total Of EUR 700m

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The European Investment Fund recently signed the first six equity agreements with venture capital funds in Austria, Finland, Germany, Luxembourg and the Netherlands, raising a total of EUR 700m under the InnovFin – EU Finance for Innovators initiative.

InnovFin – EU Finance for Innovators is a joint initiative launched by the European Investment Bank and the European Investment Fund in cooperation with the European Commission under the framework Horizon 2020. As part of the InnovFin – EU Finance for Innovators initiative, the InnovFinEquity programme provides equity investments and co-investments to or alongside investment funds, focusing on companies in their early stages of development or in their growth stage operating in innovative sectors covered by Horizon 2020, including scalable artificial intelligence / blockchain technologies (AI/BT), B2B software, data/analytics, IoT, Smart Cities, automation, language and machine learning, Saas, Fintech, cybersecurity and the future of work.

For more information and to check out which funds are on board, please visit the webiste of the European Commission

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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