Germany to invest 10 billion euros in fund for start-ups
March 24, 2021
(Reuters) – Germany’s federal government will make an additional 10 billion euros ($12 billion) available for an investment fund for future technologies, the country’s finance and economy ministers said on Wednesday.
The fund will focus on start-ups in the growth phase with high capital requirements, Finance Minister Olaf Scholz and Economy Minister Peter Altmaier said.
“Over the next few years, with our existing financing instruments we will work with private investors to provide more than 50 billion euros in venture capital for start-ups,” Altmaier added.
($1 = 0.8460 euros)
(Reporting by Bartosz Dabrowski in Gdansk; Editing by Madeline Chambers)