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EIF invests in Technology Transfer fund, Carduso Capital Groningen

    Date: 03 June 2016

The European Investment Fund (EIF) is investing in Carduso Capital Groningen-NL, to create a total fund volume of EUR 31 million, targeting innovation in the Northern Region of the Netherlands.

 The EIF is a subsidiary of the European Investment Bank (EIB Group); Carduso Capital is an initiative of the University of Groningen and academic hospital UMCG. The Fund will focus on financing seed and early-stage companies in the Life Sciences (with a particular focus on healthy ageing), energy and sustainable society sectors. The Fund is set-up in collaboration with the University of Groningen (UoG) and the University Medical Centre Groningen (UMCG), its university hospital, with which it is closely associated.

Vice Chairman of the Executive Board of the University of Groningen Jan de Jeu: “The EIF joining Carduso strengthens the economic climate for entrepreneurs and start-ups in this region. Good ideas are not enough, just as money alone is not enough. Things will only run if you can combine the two. Carduso Capital can make a substantial contribution to this and is an incentive for northern and rural economy. The entrance of EIF strengthens the economic climate in our region in witch start ups can grow.

Deputy of the Province of Groningen Patrick Brouns, also covering ‘Entrepreneurship and Innovation’, thinks the EIF entrance in Carduso Capital can increase local employability:  "By investing in Carduso Capital EIF makes clear significant opportunities for creating new jobs in the innovative sector in our region. With the increased fund assets Carduso is an important investor. The knowledge of the Groningen science cluster around RUG and UMCG can increase its conversion into commercially viable products, processes or services. This Fund will be a key driver of new economic activities in the region."

EIF Head of Technology Transfer, Piyush Unalkat said: This new partnership with Carduso Capital targets an investment stage which often has significant market gaps.  Carduso Capital will play a valuable role in helping start-ups and spin-outs to grow and innovate in the Netherlands. The EIF is pleased to be working with this Fund and is committed to supporting innovative SMEs across Europe”.

About Carduso Capital:

EIF's accession in Carduso is an initial investment in the Netherlands in what it terms ‘Technology Transfer’, that is funds that are often in partnership with leading academic institutions and research institutes across Europe. The Groningen region offers plenty of opportunities and challenges in order to justify an investment and the economic stimulus coming from this initiative. Carduso Capital is a seed and early stage investor and is open to build syndicates with other investors, often acting as cornerstone-investor and attracting others to invest in the Groningen innovation opportunities.

The University of Groningen; the Academic Hospital of Groningen UMCG; the European Investment Fund EIF; Investment Fund Groningen IFG; NOM and De Friesland Participation fund.

About EIF:

The central mission is to support Europe’s small and medium sized enterprises (SME’s) by helping them to excess finance. The EIF amongst others designs and develops venture capital, guarantee and microfinance instruments, which specifically target this market segment. In this role, the EIF fosters EU-objectives in support of innovation, entrepreneurship, growth and employment.

Note for the press:

EIF: David Yormesor
Tel.: +352 24 85 81 346, e-mail: d.yormesor@eif.org

Carduso Capital Fund: Frits Kok
Tel.: 06-53751211

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


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