Patric Gresko presents the European Investment Fund
Ecosummit TV: At ECO13 London, Patric Gresko gives an update on the cleantech activities of the European Investment Fund. Patric is the EIF’s resident Mr. Cleantech who wants to increase the support for cleantech VCs. In particular, the EIF is interested in training and funding first-time management teams as a way to grow the number of active cleantech investors in Europe. The EIF is Europe’s leading fund-of-fund with €12B of assets under management of which €3.8B go into early stage VCs. Since 2006, €280M were invested in 12 pure play cleantech funds managed by 9 fund managers (VC firms). A few more fund investment deals are in the pipeline.
Recently, the EIF launched the Corporate Innovation Platform (CorIP) to raise capital from corporates that have adopted an open innovation strategy and want to take advantage of EIF’s comprehensive fund investment experience. One of CorIP’s investment themes is sustainability (cleantech) to which 10 corporates contribute €100M and the EIF €50M. In total, €150M with embedded corporate expertise will be invested in the best cleantech funds in Europe. That’s wonderful news for VCs as well as startups.
The ECO13 London presentation slides of Patric are available as PDF.
Tags: Cleantech Fund, Cleantech VCs, Corporate Innovation Platform, Corporate Venture Capital, ECO13 London, Ecosummit London 2013, Ecosummit TV, EIF, European Investment Fund, Fund-of-fund, Open Innovation, Patric Gresko