Germany issues USD2.2 billion support to start up companies
(MENAFN)
The Ministry for Economic Affairs and Energy of Germany said on Wednesday that the government of Germany is going to issue a total of USD2.2 billion as a support for start up companies in the country.
Peter Altmaier, for Economic Affairs and Energy, said that the government is going to increase the venture capital so that "financing rounds for promising and innovative start-ups from Germany can continue to take place".
The ministry said that more funds are going to be isssued to public venture capital investors in the short time, the money will also be used in co-investments with private investors for start ups financing rounds.
The umbrella fund investor KfW Capital and the European Investment Fund (EIF)in the country are going to be put into effect to take shares from defaulting fund investors.
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