Saturday, November 30, 2019

European Investment Bank launches fund to support the circular bioeconomy

The new EIB fund will provide access to finance – in the form of equity, debt or quasi-equity – to innovative circular bioeconomy companies and projects of various sizes. 
ECBF Management GmbH and Hauck & Aufhäuser Fund Services S.A. will act as the Alternative Investment Fund Manager.  ECBF Management will raise funds from public and private investors with a target fund volume of EUR 250 million and aims for a first close in Q1 2020. 
It is expected that EIB also will invest up to EUR 100 million in the fund.

The investment will be backed by a guarantee from InnovFin – EU finance for Innovators, an initiative of the EIB Group and the European Commission to facilitate access to finance for innovation and research.
The European Circular Bioeconomy Fund will fill the funding gaps, attracting private investments that bring bio-based innovations closer to the market. Bioeconomy has the potential to play a major role for the European Green Deal.