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New equity fund under the COSME Programme will invest in early growth tech SMEs throughout Europe

04 November 2016


The EIF, with backing from the EU COSME programme, is supporting KEEN ventures in their efforts to provide capital for technology companies in Europe.

COSME is the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (SMEs) running from 2014 to 2020.

COSME’s Equity Facility for Growth (EFG) is dedicated to investments in risk-capital funds that provide venture capital and mezzanine finance to expansion and growth-stage SMEs, in particular, those operating across borders. It is expected that some 500 firms will receive equity financing through the programme, with overall investment reaching up to €4 billion.

The European Investment Fund (EIF) is supporting KEEN Venture Partners LLP (KEEN) with backing from COSME EFG. The new venture capital firm operating from London and Amsterdam, today announced a €90 million first close of its inaugural KEEN Venture Partners Fund, L.P. The new Fund will seek to provide early growth capital for technology companies with breakaway momentum across Europe with a particular focus on innovation hubs in the UK, Netherlands, Sweden and Germany. In addition, the fund will consider North American-based technology companies looking to expand into Europe. KEEN intends to invest €5 million to €10 million per company. Key investors in the Fund include the European Investment Fund (which benefits from EU support under the COSME programme funded by the European Commission), Dutch Venture Initiative (DVI), ING Netherlands, and KPN Ventures in addition to several private investors and entrepreneurs. KEEN is targeting a final close in 2017.

For more information see the Press Release