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Small and medium-sized companies across the EU will have the opportunity to gain access to Google-backed financing thanks to its EUR 20.5m investment into two fund-of-funds advised by the European Investment Fund. Google’s investment consists of EUR 12.3m into a loan fund-of-funds for small businesses, and an investment of EUR 8.2m into a life sciences venture capital fund-of-funds, that will provide financing specifically to life sciences SMEs. Both fund-of-funds are advised by the EIF.
The loan fund-of-funds will provide capital to European investment managers, who in turn provide loans to SMEs that have trouble accessing bank financing, particularly amid the current crisis. This fund will help support more than 1000 businesses through these loans. Google’s...
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