ERP-EIF Dachsfunds become cornerstone investors in BayTech II

European Investment Fund (EIF) has signed a cornerstone commitment in BayTech Venture Capital II GmbH & Co. KG, a German venture capital fund focusing on early and development stage investments. The fund is to be managed by the Munich-based BayTech team and will continue the investment strategy of BayTech I, a fund where EIF and European Investment Bank have invested.:p>

Francis Carpenter, Chief Executive of EIF, commented We are pleased that the ERP-EIF Dachfonds has committed to BayTech Venture Capital II in the currently difficult fundraising environment, in particular, for early-stage venture capital in Germany. With EIF providing a major impetus for the fundraising of BayTech II taking a proactive approach in the structuring of this operation, we are confident that we have set the frame for a successful venture fund operating out of Munich.