European Investment Fund supports UK clean technology fund

The European Investment Fund announces an investment in WHEB Ventures Private Equity Fund 2, a UK based early stage cleantech fund. The closing was completed at GBP 74m with a final target at GBP 150m.The fund will invest in high-growth and innovative young companies in Western Europe, where sustainable development and environmental impact are an integral part of their business model.

The fund targets a variety of businesses, within different industries, characterised by products, services and processes aiming at a more sustainable development, through a more efficient and responsible use of natural resources or the reduction of the impacts on the environment, that also inherently lead to an enhancement of economic value and competitive positioning.

With this investment, made under the European Commission Competitiveness and Innovation Framework Programme (CIP-GIF1), EIF contributes to the development of green technologies in Europe. GIF1 aims to help businesses with their establishment or early stages of development.

For further information, please contact Joëlle Harvey on +352 42 66 88 243, email  j.harvey@eif.org  or visit EIF’s website www.eif.org