geert lovink on Sat, 12 Nov 2005 14:21:36 +0100 (CET)
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[Nettime-nl] nieuws over technopartner
Fundraising across Europe: governments show some teeth
In its aim to promote investments in innovations, TechnoPartner (an
initiative by the Dutch Ministry of Economic Affairs) announced the
first allocations of its Seed-facility. This regulation allows
investors in seed-stage companies to improve their risk/return
trade-off by matching the funds committed to by the investor. Given the
recent Dutch scarcity of VC funds under management, the interest for
the regulation was tremendous with 14 applications received. The first
5 funds have been selected with funds totaling 33.2 million euro -
TechnoPartner contributed 16.6 million euro to this amount. The winners
were Aglaia Oncology Seed Fund, Business Angels Technostarters, Seed
Fund III, Solid Ventures and Prime Technology Ventures Technostarter.
TechnoPartner's budget for 2006 amounts to 24 million, for which
closed-end VC funds can apply January 1 to March 31. Solid Ventures
comments in a statement on its election that "recent positive
developments in the Dutch ICT sector demonstrate that The Netherlands
is an excellent, but completely underserved source of innovative
technology." The fund will focus on investments in startup and
early-stage Dutch enterprises in the IT, communications, digital media
and technology-based services.
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