Technology Fund of Funds launched in France
The third Technology Fund of Funds (TFF), worth 150 million euro, was launched in Paris, France, on 13 October. The fund has been provided in equal parts by three parties: the European Investment Fund (EIF), the French government and France's Caisse des Dépôts. The funds will be used as venture capital, and will be invested in technology firms. Compared to previous funds - the Public Venture Capital Fund and the Venture Capital Promotion Fund, launched in 1998 and 2000, which to date have financed 31 funds and through them 481 technology firms, the TFF will apply new, more selective investment criteria, according to the European Investment Bank (EIB). It will focus on major players that have the capacity to support enterprise development over the longer term. The joint initiative is intended to provide additional capital to finance the establishment and development of innovative small and medium sized enterprises (SMEs), but also to structure the venture capital market by both bolstering existing funds and facilitating the creation of new ones.
Countries
France