The European Investment Fund (EIF) and Imprimatur Capital have established a technology seed and start-up fund in Latvia attracting private capital to the Latvian JEREMIE initiative.The fund, which attracted private commitments from local pension funds managed by DnB NORD Fondi and LKB Krajfondi, local and foreign private investors, include two windows that will provide early-stage financing for innovative micro, small and medium size technology companies with international growth potential.
The €3m Seed fund will provide short-term proof-of-concept financing of up to €100,000 per qualifying company. The Start-up fund launching with a first closing value of €4.2m may invest up to €400,000 per company, with the aim of building over several years a portfolio of around 10 technology growth companies in Latvia. Target sectors include IT, telecommunications, clean energy and life science.
FinSMEs
14/06/2010