Funds & Finance

  • 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.

  • January 9, 2017

    Big deal: Versant Ventures diagnoses $400m fund

    Versant Ventures sources some of its deals through a drug discovery engine that commercialises research conducted at US and Canada-based universities.

  • January 9, 2017

    Mubadala's SoftBank Vision Fund investment to approach $15bn

    The Abu Dhabi state-owned vehicle is considering a $10bn to $15bn contribution to the fund, which is expected to close at $100bn by the end of January.

  • January 5, 2017

    Rotterdam pictures $52m Icos fund

    The cleantech-focused Icos Capital Fund III has received commitments from the city of Rotterdam as well as corporates Wuppermann, Bühler and AkzoNobel.

  • January 5, 2017

    Finance Yorkshire obtains further $6m

    The respective local enterprise partnerships of Leeds City Region and Sheffield City Region have injected $6m into Finance Yorkshire, following the fund’s full investment last June.

  • January 4, 2017

    Qualcomm to chip in for SoftBank Vision Fund

    The fund, co-launched by Saudi Arabia’s sovereign wealth fund and SoftBank, has attracted Qualcomm as a limited partner.

  • January 4, 2017

    SOSV signals $150m fund

    International Finance Corporation is one of 65 limited partners that have backed SOSV’s third fund, doubling the firm’s total assets under management to $300m.

  • January 4, 2017

    EIF and CDP transfer $208m to Itatech

    Itatech has been set up to provide access to equity funding that supports the commercialisation of research conducted at Italian institutions.

  • January 4, 2017

    Greece partners EIF for $270m fund

    The fund of funds aims to make more venture capital available to entrepreneurs in the Hellenic republic and will support tech transfer vehicles and accelerator funds.

  • January 4, 2017

    Euromena achieves final close at $150m

    CDC Group is among the limited partners of the third fund, which also include International Finance Corporation, Proparco, European Investment Bank and DEG.

  • January 4, 2017

    Opic makes Unreasonable investment

    The US government’s development finance institution has committed up to $5m to Unreasonable Capital’s first fund aimed at Latin America, India, Asia and Africa.

  • January 3, 2017

    British Innovation Fund launched with $39m

    Royal County of Berkshire Pension Fund has provided half the capital secured by the fund so far.

  • December 21, 2016

    Algar joins corporate backers of BR Startups

    Grupo Algar's corporate venturing unit has joined the likes of Agência de Fomento do Estado do Rio de Janeiro in Brazilian pre-acceleration fund BR Startups.

  • December 20, 2016

    Algebra Ventures calculates $40m fund

    US government-backed Egyptian-American Enterprise Fund has contributed $10m to the vehicle.

  • December 20, 2016

    Tamil Nadu prepares $29.5m Amma Venture Capital Fund

    The Indian state’s government venturing fund will collaborate with Chennai-based biotechnology incubator Golden Jubilee Biotech Park for Women’s Society.

  • December 20, 2016

    Finnvera partially exits Seed Fund Vera

    Finnvera has sold an 80% stake to Innovestor Kasvurahasto, retaining a 20% share, as responsibility for developing the local VC ecosystem is transferred to Tekes.

  • December 16, 2016

    Russia and Japan unveil $1bn fund

    The Russia-Japan Investment Fund aims to promote economic cooperation between the two nations and targets sectors such as energy and healthcare.

  • December 15, 2016

    Hawaii opens gates to $10m paradise

    Governor David Ige said public-private collaborations like the Startup Paradise initiative are needed to create jobs and retain talent in the state.

  • December 14, 2016

    Germany and France to launch $1.1bn fund

    The two countries have announced they are creating a joint fund aimed at startups in sectors such as cybersecurity, nanotechnology and open source software development.

  • December 13, 2016

    Australia splits Biomedical Translation Fund in three

    The government has launched its $375m Biomedical Translation Fund, splitting the amount across three fund managers, Brandon Capital Partners, OneVentures Management and BioScience Managers.

  • December 13, 2016

    Launchub Ventures closes $19m fund

    The European Investment Fund is among the limited partners of the fund that will focus on startups in Bulgaria and the wider southeastern Europe region.

  • December 13, 2016

    LCIF boosts 20 startups with $3m

    London Co-Investment Fund, backed by $32m in public funding, has continued to support local startups since Britain’s June 23 vote to leave the EU.

  • December 12, 2016

    Big deal: OSI grows to $730m

    University venturing fund Oxford Sciences Innovation has added an additional $290m from investors including Temasek and Oman Investment Fund.

  • December 12, 2016

    Global Brain dreams up $175m fund

    The Cool Japan Fund is among the limited partners for the venture firm's latest fund, which is expected to close at $175m.

  • December 9, 2016

    Ben Franklin boosts startups in Philadelphia with $6m

    The state of Pennsylvania-backed investor has partnered VC firm Safeguard Scientifics and insurance provider IHG to fuel healthcare innovation.

  • December 9, 2016

    Mavcap to launch two venture funds

    The Malaysian state-owned investment firm has partnered two VC firms to launch Islamic and regional funds with up to $450m.

  • December 7, 2016

    Asset manager sought for $38m South Australia fund

    South Australia is looking for a fund manager to oversee SAVCF, a co-investment vehicle introduced in July 2016 as part of a larger investment prorgam.

  • December 6, 2016

    Australia launches $150m Csiro fund

    The fund, originally announced a year ago, will be headed by VC investor Bill Bartee and will support spinouts and startups from Australian research institutions.

  • December 2, 2016

    Jungle Ventures hits $100m target

    The Temasek-backed vehicle, which will support Southeast Asian startups, is ten times the size of the firm's debut vehicle, which closed in 2012.

  • December 1, 2016

    British Business Bank funds Accelerated Digital Ventures

    British Business Bank has contributed capital to Accelerated Digital Ventures, a funding platform that is looking to invest a total of $188m.

  • December 1, 2016

    Karnataka goes big with $58m fund

    The Indian state, which already operates a separate $7.5m fund aimed at the pharmaceutical sector, is so far the only region in the country to have made a profit from government venturing.

  • November 29, 2016

    Alberta Enterprise invests $7m in Accelerate Fund II

    The government of Alberta’s investment arm has launched a second fund to invest in early-stage companies operating in knowledge industries.

  • November 24, 2016

    EU and AfDB allocate $158m to fund startups

    European Investment Bank and the European Commission have partnered African Development Bank to launch Boost Africa, an initiative to nurture more than 1,500 startups.

  • November 22, 2016

    Russia and Japan to launch joint venture fund

    Kirill Dmitriev, CEO of Russian Direct Investment Fund, said the $10bn sovereign wealth fund plans to announce its joint Russia-Japan venture fund next month.

  • November 22, 2016

    HTC and Shenzhen launch world's largest VR fund

    HTC, manufacturer of the Vive virtual reality headset, has partnered Shenzhen Municipal Government for the Shenzhen VR Investment Fund and is targeting a $1.45bn fundraise.

  • November 21, 2016

    Editorial: A patient investment idea worth keeping

    While entrepreneurs are increasingly looking for investors that can bring more than just fungible capital, in particular those that can help them expand internationally, many of the venture investors are increasingly inward-looking at their local region.

  • November 16, 2016

    Long Hill lands $125m for debut fund

    China-based, IFC-backed investment firm Long Hill will target early-stage companies operating in fast-growing sectors like healthcare and consumer services.

  • November 16, 2016

    Tennessee recoups just 2.6% from $200m venture program

    Justin Wilson, Tennessee comptroller of the treasury, said TNInvestco is unlikely to generate a return to match the state’s initial investment.

  • November 16, 2016

    CIC and Caisse des Dépôts to launch joint fund

    China’s sovereign wealth fund is partnering the direct investment arm of France’s state-controlled financial group to target overseas investments in real estate and infrastructure.

  • November 15, 2016

    Big deal: RCIF and TUS anchor $100m fund

    The Russia-China Investment Fund, backed by Russia and China’s respective sovereign wealth funds, and Tsinghua University’s TUS Holdings have partnered to launch a $100m fund.

  • November 15, 2016

    CIC looks for opportunities abroad

    China’s sovereign wealth fund is increasing its international activities to identify opportunities that could boost the domestic economy.

  • November 15, 2016

    SIB warns over post-Brexit startup financing

    Kerry Sharp, head of Scottish Enterprise’s investment arm, said that without European Regional Development Funding it may have to reduce the amount invested in startups.

Most read

  1. Big deal: British Business Bank launches $500m fund

    February 27, 2017

  2. Scohia Pharma to spin out of Takeda with $87m

    March 15, 2017

  3. Big deal: Airbnb takes series F booking from CIC

    March 13, 2017

  4. News round up 27 February 2017

    February 27, 2017

  5. Wills takes charge of Energy Technologies Institute

    March 07, 2017

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