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IRI April 14, 2020 0 Comments

The European Commission and the European Investment Fund have launched a new investment fund to support venture capital and growth financing for technology startups.

ESCALAR, the new investment mechanism, will provide €300 million ($328 million) in funding to support the block’s economic and technological sovereignty.

The fund is backed by the European Fund for Strategic Investments and is expected to trigger investments of up to €1.2 billion ($1.3 billion) or four times the original investment.

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