EIF invests in the tech transfer fund of Groningen University and UMCG to support innovation in northern areas of the Netherlands and the healthy ageing sector.
Carduso Capital Groningen-NL, a technology transfer fund by Groningen University and its teaching hospital UMCG, has raised an investment from the European Investment Fund bringing its total to €31m ($35m).
The European Investment Fund, established in 1994, was created to indirectly invest in small and medium-sized enterprises. Its shareholders include the European Investment Bank, the European Union, through the European Commission, and 30 privately-owned EU financial institutions.
The Carduso Capital Groningen-NL fund will invest in seed and early-stage companies working in the life sciences, energy and sustainable society sectors. It will have a specific focus on healthy ageing.
The fund will target innovation in the Northern regions of the Netherlands.
Piyush Unalkat, head of technology transfer at the European Investment Fund, said: “Carduso Capital will play a valuable role in helping startups and spinouts to grow and innovate in the Netherlands.”
Jan de Jeu, vice-chairman of the Executive Board of the Groningen University, said: “The European Investment Fund joining Carduso strengthens the economic climate for entrepreneurs and startups in this region. Good ideas are not enough, just as money alone is not enough. Things will only run if you can combine the two.”
