An extra €1 billion in funding is to be made available to startups from the German Economic Affairs Ministry and European Investment Fund.
The European Investment Fund and the ERP Special Fund – represented by the German Federal Ministry for Economic Affairs and Energy – have topped up the ERP/EIF Fund of Funds and the European Angels Fund to €2.7 billion.
Combined with funding under the Growth Facility launched in March, approximately €3.2 billion is now available to support German startups and high-tech companies with fast growth trajectories.
Since its launch in 2004, the ERP/EIF Fund of Funds has played an important role in startup funding by participating in venture capital funds which invest in technology firms in the early and growth phase.
The European Angels Fund, which is also financed with money from the ERP/EIF facility, complements this with cofinancing for investments by selected, experienced business angels.
The ERP/EIF Growth Facility covers the growth-phase segment.