Funds & Finance

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    The European Investment Fund has withdrawn from funding commitments made to UK-based venture capital firms following the country’s decision to leave the EU.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

  • March 23, 2017

    Pi Ventures calculates IFC funding

    IFC is set to invest $3m the early-stage venture fund, which is seeking between $30m and $40m for its maiden fund.

  • March 22, 2017

    Durham appoints Maven as $25m fund manager

    Business Durham, the economic development arm of the Durham County Council, has named Maven Capital Partners as the manager of a $25m fund.

  • March 21, 2017

    AFD helps develop Oasis Africa Fund

    The French development agency has committed $7m to the fund, which invests in small and medium-sized enterprises in Ghana and Côte d’Ivoire.

  • March 21, 2017

    Food Works welcomes applications

    The Irish government-run accelerator program is seeking applications from local entrepreneurs for its 2017 edition.

  • March 20, 2017

    Big deal: Juncker Plan to trigger more than $190bn

    The European Investment bank has approved 197 EFSI-backed projects to date, while the European Investment Fund has approved 264 SME financing agreements.

  • March 17, 2017

    Invest Georgia tunes into TTV’s $93m fund

    TTV Capital has closed its latest fund at $93m with commitments from Invest Georgia and an unnamed sovereign wealth fund.

  • March 16, 2017

    500 Startups wrestles $10m fund

    The International Finance Corporation is a limited partner in 500 Startups’ second fund aimed at startups in Latin America.

  • March 15, 2017

    Karnataka introduces $1.5m women-focused fund

    The government fund will focus on women entrepreneurs, providing proof of concept capital.

  • March 14, 2017

    Bpifrance helps build Bridgepoint fund

    Bridgepoint is targeting a $375m to $535m fund to target small and medium-sized enterprises, with Bpifrance putting in $80m.

  • March 14, 2017

    IFC helps Carlyle grow Asia fund

    The International Finance Corporation is set to provide up to $25m to Carlyle’s fifth Asia fund.

  • March 8, 2017

    Malaysia cradles DEQ800

    The government-owned Cradle Fund has allocated $1.8m to a new initiative called DEQ800 that will provide early-stage equity.

  • March 7, 2017

    Accion accepts $141m for fintech fund

    IFC and FMO are among the limited partners for the Accion Frontier Inclusion Fund, which will back technology that will make financial services more accessible.

  • March 2, 2017

    Hatteras to manage $60m NC fund

    North Carolina’s government has awarded the management of a $60m fund to Hatteras Venture Partners.

  • March 2, 2017

    Finance for Business North East reaches $500m milestone

    The fund has invested approximately $197m in equity and debt financing, leveraging an additional $308m in private investment.

  • March 2, 2017

    IFC to catalyse $30m program

    IFC will invest a total of $30m through its Startup Catalyst initiative that targets seed and pre-series A stage companies.

  • March 1, 2017

    Omers celebrates bumper year

    The state-owned pension fund has announced the results for the past financial year, boosting its overall return to 10.3%, up from 6.7%.

  • March 1, 2017

    Quebec’s SMEs to benefit from $68m

    The Capital croissance PME fund has secured an additional $68m in capital to support small and medium-sized enterprises in Quebec.

  • February 28, 2017

    Vanedge points at $122m fund

    The vehicle has attracted the support of BDC Capital and Export Development Canada.

  • February 28, 2017

    Enterprise Ireland launches new Competitive Start Fund

    The export credit agency is set to open applications for its latest Competitive Start Fund next week.

  • February 27, 2017

    Big deal: British Business Bank launches $500m fund

    The Northern Powerhouse Investment Fund, first announced by then-chancellor George Osborne in 2015, has secured $230m from European Investment Bank.

  • February 24, 2017

    Heliconia launches $422m fund

    The Temasek-owned investment firm has announced an International Partnership Fund that will provide government venture capital for acquisitions.

  • February 22, 2017

    Project A reveals $190m game plan

    The European Investment Fund has led fundraising efforts for a $148m vehicle – secured as Project A also nears a close on its $42m follow-on fund – that attracted a host of German corporates.

  • February 21, 2017

    EIF helps inject $75m into BioMedPartners' fund

    The VC firm has achieved a first close of its BioMedInvest III fund thanks to commitments from the European Investment Fund and Berner Kantonalbank.

  • February 16, 2017

    Tedco launches Minority Business Pre-Seed Fund

    Maryland Technology Development Corporation has partnered Harbor Bank to establish a $400,000 fund aimed at black entrepreneurs.

  • February 15, 2017

    Abu Dhabi to merge two sovereign wealth funds

    Mubadala Development and International Petroleum Investment are set to be combined into a $125bn vehicle that will be called Mubadala Investment Co.

  • February 15, 2017

    Invest-NL to put $2.1bn into Dutch economy

    The government has announced am investment fund that will focus on energy, sustainability, mobility, food and digitalisation, and will launch in January 2018.

  • February 14, 2017

    India electrifies $1bn fund

    The government has approved an IT and electronics-focused fund and provided an initial $100m in capital.

  • February 14, 2017

    Romania plans government venturing arm

    The Sovereign Development and Investment Fund will be wholly-owned by Romania’s government and co-invest alongside actors such as EIB, EBRD and the World Bank.

  • February 13, 2017

    Big deal: Enterprise Ireland goes from strength to strength

    The government-owned export credit agency last week added four funds with a total of $200m in capital to its arsenal as it revealed it had supported a record 229 startups last year.

  • February 10, 2017

    RDIF looks forward to $1bn boost

    The Russian Direct Investment Fund is expected to secure more than $1bn in additional capital from the government by the end of the year, while Qatar pledges to co-invest $2bn.

  • February 9, 2017

    Frontline closes in on $65m fund

    EIF, Enterprise Ireland and Ireland Strategic Investment Fund have backed Frontline’s Fund II, which will target business-to-business software developers at the pre-seed and seed stages.

  • February 9, 2017

    North East Growth Fund boasts $25m return

    The Finance for Business North East Growth Fund, launched in 2010, has already secured a $25m return on its 146 investments.

  • February 8, 2017

    St Petersburg to launch $4m fund

    The city is set to create a venture fund with an initial commitment of $4m that will allocate between $16,000 and $83,000 to startups.

  • February 8, 2017

    Greece unveils Equifund with $214 in public funding

    The venture capital fund has received a $214m commitment through EU program Competitiveness, Entrepreneurship and Innovation, which will be topped up by third parties.

  • February 7, 2017

    Ontario energises $42m cleantech fund

    Ontario is currently seeking VC fund managers to manage the fund.

  • February 7, 2017

    Seroba adds EIF and Ireland to $107m fund

    The European Investment Fund, Enterprise Ireland and the Ireland Strategic Investment Fund have supported a $107m vehicle that has already made its first investment.

  • February 7, 2017

    NextAI interfaces with investors

    The program aims to offer capital, mentorship and networking opportunities to Canada-based startups operating in the artificial intelligence sector.

  • February 3, 2017

    Uganda sows $27m agriculture fund

    The EU, the International Fund for Agricultural Development and the National Social Security Fund have joined forces to launch the Yield Uganda Investment Fund.

  • February 1, 2017

    Germany considers Tech Growth Fund

    The German government is working with KfW on a Tech Growth Fund that would provide several billion euros in venture debt.

  • January 31, 2017

    ARM reaches investors for $800m fund

    SoftBank's semiconductor technology subsidiary will co-manage the Hou An Innovation Fund and has recruited several state-owned funds as limited partners.

  • January 31, 2017

    IDG Ventures closes $200m third fund

    The IDG-affiliated venture firm has closed its third fund with backing from limited partners including IFC and has reserved about 25% for later-stage deals.

  • January 31, 2017

    Andhra Pradesh to start up $14.7m fund

    The Indian state’s government hopes to support the local fintech sector through a new fund to be managed by an external firm.

  • January 31, 2017

    Thailand to innovate with $34m NIA fund

    Thailand’s National Innovation Agency is set to create a $34m investment initiative and an accelerator program, supported by Huawei, to foster innovation in the country.

  • January 27, 2017

    IBG makes bet on $53m fund

    Saxony-Anhalt-owned VC firm IBG Beteiligungsgesellschaft Sachsen-Anhalt, has announced a $53m fourth fund backed by state money.

  • January 25, 2017

    China switches on $14.5bn internet fund

    The Chinese government has raised $4.35bn for the first close of its China Internet Investment Fund, sourcing capital from a range of state-run firms.

  • January 23, 2017

    News round up 23 January 2017

    A round up of all the latest news on www.globalgovernmentventuring.com for our subscribers.

  • January 20, 2017

    Paris-Saclay gains $53m fund

    The fund will back early-stage spinouts of the Paris-Saclay University ecosystem, which comprises a total of 17 Grandes Écoles, universities and laboratories.

  • January 19, 2017

    Suzhou provides input to $732m big data fund

    Suzhou city’s government has partnered Shenzhen Capital Group to launch a $732m fund that will invest in sectors such as big data, sensors and cloud technologies.

  • January 18, 2017

    Bpifrance unveils French African Fund

    Bpifrance has partnered AfricInvest to establish the first cross-border investment fund for France and Africa, with additional support from several corporates and private investors.

  • January 18, 2017

    India to overhaul $1.5bn fund of funds

    The fund, first revealed in January last year, was initially targeted at early-stage startups but it is now set to also target later-stage companies.

  • January 18, 2017

    India contemplates fund for minorities

    The vehicle would focus on minorities and depressed classes in the country, though a similar initiative launched in 2012 failed to attract investment.

  • January 13, 2017

    Enterprise Ireland launches $650,000 fund

    Enterprise Ireland has announced its latest Competitive Start Fund that will invest up to $43,000 in eligible companies.

  • January 12, 2017

    Rusnano goes big with two funds

    The nanotechnology-focused commercialisation firm is set to establish two investment funds in the first half the year and is seeking co-investors from China and the Middle East.

  • January 12, 2017

    Naheta joins SoftBank Vision Fund

    Akshay Naheta, chief investment officer of Knight Assets, has joined SoftBank to help manage the company’s $100bn fund that is backed by a range of sovereign wealth funds.

  • January 12, 2017

    Butterfly takes flight with $25m fund

    Tekes and several insurance providers have backed Butterfly Venture Fund III, which will invest in seed-stage Nordic startups.

  • January 11, 2017

    Invest Detroit launches $4.2m First Capital Fund

    Michigan Economic Development Corporation last month provided $2m to the fund, which has now secured an additional $2.2m from private investors.

  • January 10, 2017

    Sidbi strengthens Life Insurance Corporation of India partnership

    The two partners, which signed a memorandum of understanding in April 2016 for LIC to support the India Aspiration Fund, have launched the first phase of that collaboration.

  • January 9, 2017

    Editorial: EIB retreats from Northern Ireland

    European Investment Bank has told Northern Ireland’s finance minister it will not be backing the country’s investment fund following the Brexit vote.

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Events

  • 23 May - 24 May, 2017

    GCV Symposium 2017 - London

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