InvestEU: €150 million to be raised for innovations in deep technologies sector
Backed by the InvestEU programme, the European Investment Bank (EIB) Group has committed
€45 million to the OTB Fund II by OTB Ventures, a European venture capital firm focused on the
deep technologies sector. The fund is expected to raise €150 million to be directly invested in tech companies developing innovative scientific breakthroughs across enterprise artificial intelligence (AI) automation, space technology, fintech and cybersecurity, with special attention to climate tech solutions.
Paolo Gentiloni, Commissioner for Economy, said: “The InvestEU programme is playing an important role across Europe in mobilising the finance that businesses need to innovate, expand and create jobs. This agreement demonstrates how InvestEU can help Europe remain at the forefront of research and technology. This is of particular importance as we invest to secure the green and digital transitions.” The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilising at least €372 billion in additional investment.
