European bank launches €100m fund to co-invest with VCs

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The European Bank for Reconstruction and Development is unexpectedly launching a new €100m venture capital investment programme for early and growth stage companies. It will cover operating in all European regions and have a dedicated team and advisory committee.

Why now? It thinks Europe, “despite being home to an educated population and many technological innovations, is underserved by venture capital investment.” Well, well, and they could be right…

EBRD’s First Vice President Varel Freeman said the programme will co-invest alongside investors in software and web services, semiconductors and materials, communications, mobility and media and clean technology sectors.