Investment Plan for Europe supports growth fund investing in early-stage technology businesses

Today, OTB Ventures launches the new ‘OTB Growth Fund I’, which is backed by the European Scale-up Action for Risk capital (ESCALAR)  of the European Commission and the European Investment Fund (EIF). ESCALAR is a pilot programme launched by the European Commission and the EIF, using resources of the Investment Plan for Europe, to invest in funds with ambitions of making follow-on investments in scale-ups in their existing portfolios. Today’s investment will enable OTB Ventures to continue pursuing its mission to empower Europe’s most talented entrepreneurs to scale their businesses globally, while keeping a strong focus on technology advancement in research and development hubs in Central and Eastern Europe. The new capital will support continued investment for OTB portfolio companies, spanning the tech industry, including the areas of cybersecurity, space, financial technology and robotic automation. Executive Vice-President for An Economy that Works for People, Valdis Dombrovskis, said: “I welcome the launch of this growth fund supported by the European Fund for Strategic Investments and the EIF. We need more funding options for promising technology start-ups in Europe, which create new jobs and help secure our competitive edge. I look forward to seeing many more such examples in action.” The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe, which has so far mobilised €546.5 billion of investment, supporting over 1.4 million SMEs and start-ups across the EU

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