Funds & Finance

  • August 17, 2017

    Prince Edward Island backs $4m fund

    The provincial government of Prince Edward Island has put $2m into a fund raised by Island Capital Partners that seeks to support the local ecosystem.

  • August 16, 2017

    NZVIF to boost seed investments

    The government has raised the cap for seed investments by the New Zealand Venture Investment Fund from $180,000 to $1.1m with a view of letting the fund be more active.

  • August 16, 2017

    Mavcap-backed Meranti Fund celebrates $50m close

    The fund, managed by Gobi Partners on behalf of Mavcap, will focus on cloud services, e-commerce and fintech startups as well as Muslim entrepreneurs.

  • August 15, 2017

    Taiwan wants 30,000 startups

    The government’s investment arm, National Development Council, will make direct investments in startups going forward, moving away from a current model of subsidies.

  • August 5, 2017

    Editorial: Value shifts from ideas towards large company investors

    Emphasis inside government and among its advisers is that more value and focus should be on the investors scaling up the business rather than those coming up with the idea and helping the entrepreneur set up a business.

  • August 1, 2017

    UK to launch National Investment Fund

    The vehicle, which could be set up either as a public-private partnership or a government venturing fund with a view of being sold off at a later date, will aim to deal with a lack of EIF funding.

  • July 28, 2017

    EIF prepares $58.5m CEE fund

    The European Investment Fund has partnered Oxo Group with the aim of launching a fund focused on startups based in central and eastern Europe.

  • July 28, 2017

    LCIF adds five co-investment partners

    The London Co-Investment Fund has partnered five more firms, bringing the total number to 14.

  • July 28, 2017

    BlackFin steers to $117m for fintech fund

    Bpifrance and a host of insurance companies have backed the first close of BlackFin’s Tech Fund 1.

  • July 27, 2017

    Telangana ushers in funds

    The government has launched its innovation policy, as part of which it will create several funds such as a $310m master fund and a $39m seed fund.

  • July 26, 2017

    Enterprise Ireland to propel startups

    The export credit agency has launched the Propeller Shannon accelerator, a corporate-backed program aimed at startups in the aviation and aerospace industries.

  • July 25, 2017

    Paris&Co banks on fintech startups

    The French capital’s economic development agency is set to launch an incubator later this year that will focus on fintech businesses.

  • July 20, 2017

    Nigeria to launch creative industries fund

    Nigeria’s government has announced a $1m venture capital fund aimed at the creative economy.

  • July 19, 2017

    Pacific Alliance targets $120m fund

    Chile, Colombia, Mexico and Peru have joined forces to support entrepreneurial projects in the four countries, aiming to raise a $120m fund with the help of Angel Ventures.

  • July 18, 2017

    Corporates access Evolution in $125m fundraise

    Evolution Equity Partners has closed a $125m technology fund that has limited partners including Cisco Investments and the Polish government-backed Witelo Fund.

  • July 14, 2017

    Singapore springs to action with new fund

    Spring Seeds Capital’s $72.8m fund will focus on startups built on technology that requires significant developmental and commercialisation efforts.

  • July 11, 2017

    Partech packs public backers into $455m fund

    The European Investment Fund and Bpifrance have helped the VC firm close its seventh fund, taking its total fundraising near to $1.1bn in the past 18 months.

  • July 11, 2017

    Hong Kong to launch matched venture fund

    The fund is expected to be $255m in size and is set to launch within weeks, having been in development for several years.

  • July 11, 2017

    Blue Sky wins $38m SA fund bid

    South Australia has allocated the fund management of its $38m vehicle to Blue Sky Alternative Investments.

  • July 11, 2017

    Investors put their weight behind Ibtikar Fund

    International Finance Corporation and the Dutch Growth Fund are among the limited partners in Ibtikar, a $10.4m fund focused on startups in Palestine.

  • July 10, 2017

    Bpifrance helps Axeleo draw up first close

    Bpifrance is one of several limited partners to contribute to a $28.5m first close for enterprise technology acceleration platform Axeleo's first fund.

  • July 7, 2017

    RCIF gains $1bn

    The Russian-Direct Investment Fund and China Investment Corporation have both committed more capital to their Russia-China Investment Fund.

  • July 5, 2017

    Enterprise Ireland launches $68m fund

    The agency is welcoming applications for the Regional Enterprise Development Fund that aims to boost economic recovery across the country.

  • July 5, 2017

    Indonesia doubles down on incubation

    The government has increased its commitment to the ecosystem from $14.1m to $27.6m.

  • July 4, 2017

    EIF buys into $198m Cipio fund

    The vehicle, backed by the European Investment Fund, will focus on secondary direct and growth capital investments.

  • July 4, 2017

    Sarawak to sow $23.3m fund

    The Malaysian state is set to establish a venture capital fund focused on the agricultural sector.

  • June 29, 2017

    Investec devises $85m fund

    The fund will act as a successor to the Ulster Bank Diageo Venture Fund, with Enterprise Ireland and the Ireland Strategic Investment Fund expected to become LPs.

  • June 29, 2017

    KVIC applies $40m Korea fund

    Applied Materials' corporate venturing subsidiary will manage a fund formed with Korea Venture Investment Corporation to back South Korean startups.

  • June 29, 2017

    Bpifrance helps boost Cathay Innovation fund to $320m

    Private equity firm Cathay Capital has closed its first Cathay Innovation fund with backing from Bpifrance and China Development Bank.

  • June 28, 2017

    BioGeneration begets $75m fund

    The European Investment Fund has committed capital to BioGeneration Ventures’ third fund, which has a target size of $85m.

  • June 27, 2017

    Tide Africa Fund rises to $40m

    The fund has been backed by LPs including the African Development Bank and the European Investment Bank, with a final target size set at $100m.

  • June 27, 2017

    Horizon approaches $150m fund

    EBRD, IFC, FMO, DEG and other investors have backed the Emerging Europe Growth Fund III, which has a $150m target.

  • June 27, 2017

    Capnamic caps latest fund at $130m

    German-focused VC firm Capnamic Ventures has reached the final close of a fund backed by the EIF, KfW, NRW.Bank and a host of corporates.

  • June 27, 2017

    Ras Al Khaimah unveils first police fund

    Ras Al Khaimah Police has launched a venture capital fund aimed at the policing and securities sectors in the Arab region.

  • June 23, 2017

    Thailand designs $147m Digital Economy Fund

    The Digital Economy and Society Ministry is set to allocate the funding to startups with a view of helping them expand their business both domestically and internationally.

  • June 23, 2017

    KIC to expand into Singapore

    South Korea’s sovereign wealth fund is set to open its third office in Singapore, adding to its offices in New York and London.

  • June 23, 2017

    Corporates eye $280m IrisNext fund

    The firm has achieved the first close of its latest fund, backed by corporates including Orange, Publicis and Valeo as well as state-owned investment bank Bpifrance.

  • June 22, 2017

    Sanovas performs $75m fundraising

    Sanovas has signed an agreement with the government of Suzhou in China to create a $75m fund and innovation centre at the Chinese Academy of Sciences.

  • June 21, 2017

    Scotland readies $250m in funding

    The Scottish-European Growth Co-Investment Programme has been backed by the Scottish Investment Bank and the European Investment Fund.

  • June 21, 2017

    Queensland puts an extra $8.3m into fund

    The Business Development Fund will receive an additional funding boost to help build a sustainable local ecosystem for venture capital.

  • June 21, 2017

    Mumtalakat claims $300m in resources

    Bahrain’s sovereign wealth fund has revealed it has between $200m and $300m available for new deals and is seeking opportunities internationally.

  • June 21, 2017

    Mossad to infiltrate venturing world

    Israel’s intelligence service is set to take a leaf out of the CIA’s book by establishing an investment arm that will focus on local startups relevant to the security sector.

  • June 20, 2017

    Medicxi nabs EIF to close $300m fund

    The European Investment Fund is among the limited partners for the late-stage fund, which will complement the GSK and Johnson & Johnson-backed fund Medicxi closed in 2016.

  • June 20, 2017

    State-backed 500 Startups Japan scales to $35m

    The government-owned Cool Japan Fund has provided $10m for the seed-stage venture firm's Japanese fund, which also counts Nikon, Mixi, Mitsubishi Estate and Mizuho Bank as backers.

  • June 14, 2017

    London looks to Better Futures

    The UK’s capital city is set to open an incubator aimed at cleantech startups, with financial support from the European Regional Development Fund.

  • June 13, 2017

    Lumira grows with $11m from Northleaf

    Northleaf Venture Catalyst Fund has injected $11m into life sciences-focused fund Lumira Capital IV.

  • June 13, 2017

    Vnesheconombank to help launch $200m fund

    The Russian development bank has inked an agreement with Srei Infrastructure Finance to establish a $200m vehicle aimed at IT.

  • June 13, 2017

    Bahamas injects additional $5m into fund

    The Bahamas Entrepreneurial Venture Fund is set to put an additional $5m in capital on top of the annual $1m subsidy, to cope with a backlog of applications.

  • June 8, 2017

    Canada to catalyse SMEs with $296m

    The government is considering an initiative to boost SMEs in the country, with Business Development Bank of Canada among the parties consulting with the private sector.

  • June 8, 2017

    BDC Capital dedicates $185m to growth equity

    BDC Capital will inject a total of $185m into growth-stage businesses over the next five years.

  • June 7, 2017

    AP2 rises to sustainability challenge

    The pension fund has put $50m into the Rise Fund, an impact investment initiative that focuses on challenges outlined in the UN Sustainable Development Goals.

  • June 6, 2017

    EU to focus on small businesses

    Venture capital funds in the European Union are expected to be regulated less rigidly to support the SME ecosystem in the single market.

  • June 6, 2017

    Mistral winds up with $26m

    BDC Capital has supported a $26m close for the Mistral Venture Partners II fund.

  • June 5, 2017

    Enterprise Ireland sets its sights on $67m fund

    The regional development fund is set to provide up to $5.6m in funding to projects.

  • June 1, 2017

    Vertex to launch Israel and US funds

    The firm is reportedly going to launch two new funds aimed at the US and Israel, as the existing two vehicles near full deployment.

  • May 31, 2017

    HTGF III celebrates $275m first close

    High-Tech Gründerfonds has attracted the Federal Ministry for Economic Affairs and Energy and KfW as well as a total of 26 corporates to its third fund.

  • May 26, 2017

    Kedaara collects $40m from IFC

    International Finance Corporation has agreed to provide up to $40m to Kedaara Capital Advisors’ fund aimed at Indian businesses in sectors such as logistics.

  • May 25, 2017

    Pentech fund benefits from British Business Bank

    The economic development bank has contributed to an oversubscribed $114m fund.

  • May 22, 2017

    EIF cancels UK funding commitments

    The European Investment Fund has withdrawn from funding commitments made to UK-based venture capital firms following the country’s decision to leave the EU.

  • May 19, 2017

    IFC helps grow $220m Arbor fund

    Arbor Ventures is set to secure up to $15m from the International Finance Corporation for its second fund.

  • May 18, 2017

    China launches $21.8bn guidance fund

    The Beijing government has joined forces with a host of state-owned enterprises to establish a guidance fund aimed at innovative technologies such as quantum teleportation.

  • May 18, 2017

    WestBridge connects to EIF

    The European Investment Fund has put $26m into the UK-based investment firm’s second fund.

  • May 17, 2017

    Oman anchors $15m fund

    The Oman Investment Fund is one of the anchor investors in 500 Startups’ latest vehicle, a $15m fund aimed at startups in the Middle East and North Africa.

  • May 16, 2017

    China weaves $500m Silk fund

    The Chinese government has backed venture capital fund Silk Ventures through its Assets Supervision and Administration Commission Shenzhen.

  • May 16, 2017

    Uttar Pradesh to create $31m fund

    The Indian state’s newly elected government is keen to support local micro, medium and small enterprises with an initial commitment of $31m for a VC fund.

  • May 12, 2017

    China unveils $2.6bn fund

    The Ministry of Finance, the National Development and Reform Commission and the State Development and Investment Corporation are among the backers of the new VC fund.

  • May 11, 2017

    IFC reaches for Stellaris with $10m

    Stellaris Venture Partners India I, a technology-focused early-stage fund with a $100m target size, has secured a $10m commitment from the International Finance Corporation.

  • May 9, 2017

    BDC stands up for startups

    BDC Capital has backed the StandUp Ventures Fund I, a women-focused fund that has made its first investment in Tealbook.

  • May 5, 2017

    Xiaomi ventures to Hubei for $1.7bn fund

    Xiaomi will put up a third of the capital for Xiaomi Yangtze Industry Fund, which will target hardware investments, with Hubei's guidance fund and the province's largest city the other LPs.

  • May 5, 2017

    BDC Capital goes for $200m fund

    The fund will focus on small and medium-sized enterprises based in Canada’s four Atlantic provinces, with the cash deployed over the next two years.

  • May 4, 2017

    RDIF looks to Japan for joint $900m fund

    The Russia-Japan Investment Fund will be funded by the Russian Direct Investment Fund and Japan Bank for International Co-operation.

  • May 4, 2017

    EIF and Bpifrance elevate Elaia Delta Fund to $125m

    France-based venture firm Elaia Partners has reached the first close of its fourth fund, with the European Investment Fund and Bpifrance contributing capital.

  • May 4, 2017

    Bpifrance secures $55m fund

    The vehicle, launched in collaboration with France’s arms procurement office, will back companies that have developed technology relevant to the country’s defence industry.

  • May 4, 2017

    EIF and Tekes put $33m into EAF fund

    The EAF Finland fund aims to boost angel investments in the country.

  • May 4, 2017

    Vendep gets down to business with $44m fund

    Finnish Industry Investment is among the limited partners of the Vendep Capital Fund II, which will focus on Finland-based business-to-business software developers.

  • May 3, 2017

    Enterprise Ireland opens doors to PorterShed

    The NDRC at PorterShed Accelerator will provide a boost to Ireland’s ecosystem and is open to applications from both domestic and international entrepreneurs.

  • May 2, 2017

    EIF and EBRD anchor $164m V4C fund

    The V4C Poland Plus fund will make investments in small and medium-sized enterprises as well as small mid-cap businesses, with a particular focus on the services sectors.

  • May 2, 2017

    BDC Capital grows GTC division to $1.3bn

    The Growth and Transition Capital division has been allocated $1.3bn in funding to invest in growth-stage businesses in Canada.

  • May 2, 2017

    Singapore seeks $718m opportunities

    The city state is establishing a new fund to support companies’ overseas expansion efforts as part of an aim to double the number of IP experts to more than 1,000 over the next five years.

  • May 2, 2017

    Enterprise Ireland launches $820,000 fund

    The agency will open applications for its Competitive Start Fund for Female Entrepreneurs tomorrow, with up to $55,000 in equity funding available for up to 15 applicants.

  • April 27, 2017

    SeedPlus adds investors to $18m fund

    The fund has attracted Cisco and Eight Roads Ventures as limited partners, which already included the International Finance Corporation and Infocomm Investments.

  • April 21, 2017

    Investors dive into $166m Nauta Capital fund

    The European Investment Fund tops a long list of public investors in the early-stage VC firm’s fund.

  • April 21, 2017

    Advent France Biotechnology arrives at $69.2m fund

    The life sciences investment firm has raised $69.2m in seed funding from limited partners including Bpifrance and aims to back French entrepreneurs and early-stage companies.

  • April 20, 2017

    EIF and Luxembourg process European Cyber Fund

    The European Cyber Fund, backed by the European Investment Fund and the Luxembourg Future Fund, will invest in cybersecurity companies throughout Europe and internationally.

  • April 18, 2017

    Tamil Nadu plans $78m fund

    The state government will provide the money for the fund, which will be managed by industry experts.

  • April 18, 2017

    Enterprise Ireland serves up meat research program

    The $8.6m initiative is expected to further develop exports of the Irish beef and sheep meat industries, and mitigate the potential impacts of Brexit.

  • April 13, 2017

    Tianjin City launches $17.4bn fund

    The fund will support the growth of industries including high-end manufacturing, IT, aerospace, new energy, new materials, pharmaceuticals and internet-related services.

  • April 13, 2017

    Wells Fargo expands Innovation Incubator to $30m

    The bank's cleantech incubator, formed with the US Department of Energy three years ago, will also expand its interest to transport, sustainable agriculture and the microgrid.

  • April 13, 2017

    BDC helps accelerate Calgary startups

    BDC Capital and GE Ventures have launched a fund aimed at startups participating in the Zone Startups Calgary accelerator.

  • April 10, 2017

    Big deal: Mavcap closes in on $50m

    The Malaysian government venturing firm is set to announce a $50m first close for its Southeast Asian growth fund, which was initially announced in December.

  • April 10, 2017

    Danish Growth Fund celebrates $87m profits

    Danish entrepreneurs, venture funds with a global outreach and local companies conducting an initial public offering are all set to benefit from the fund’s profit.

  • April 5, 2017

    Canada boosts Business Innovation Fund to $994m

    Sectors such as digital industries, life sciences and cleantech are set to benefit from an additional $447m allocated to the Business Innovation Fund.

  • April 5, 2017

    Enterprise Ireland allocates $47m to startups

    The export credit agency is putting up to $47m in additional capital in seed and early-stage companies, issuing a competitive call for applications to manage the funds.

  • April 5, 2017

    BC Tech Fund provides shot in the arm for Lumira Capital IV

    The government of British Columbia’s venture capital fund will invest in healthcare and life sciences through a contribution to Lumira’s new vehicle

  • April 4, 2017

    South Korea to set up $102m biotech fund

    The fund is expected to create new jobs and technology, and to help revitalise the country’s economy.

  • April 4, 2017

    IFIC to drive technology and healthcare investments

    The fund hopes to make roads safer, reduce pollution and improve the lives of Iranians.

  • March 31, 2017

    EBRD turns to Sallé de Chou for Tunisia

    Antoine Sallé de Chou has succeeded Marie-Alexandra Veilleux-Laborie as head of Tunisia for the European Bank for Reconstruction and Development.

  • March 28, 2017

    Canada unveils 2017 budget

    Measures include a $710m commitment to establish clusters focused on technologies such as artificial intelligence and $300m to support the innovation ecosystem through the Venture Capital Catalyst Initiative.

  • March 28, 2017

    EBRD sees $150m Horizon

    The bank is considering an equity investment of up to $30m in Horizon Capital Advisors’ Emerging Europe Growth Fund III.

  • March 23, 2017

    500 Startups opens Melbourne office

    The decision follows a $2.3m investment from Victoria state-owned investment fund LaunchVic.