EIF commits €20 million to Swedish VC BackingMinds to support underrepresented entrepreneurs
The European Investment Fund (EIF), part of the EIB Group, committed €20 million to BackingMinds Invest III, making it the first institutional investor in the fund under the EU's InvestEU programme. BackingMinds aims to identify innovative founders in underserved Nordic markets. The commitment reflects broader European venture activity, with other regional funds also securing significant backing for specialized investment strategies.
Key points
- EIF committed €20 million to BackingMinds Invest III fund
- Focuses on entrepreneurs overlooked by mainstream venture investors
- Backed by EU's InvestEU programme and EIB Group
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