Cohesion Policy invests in the competitiveness of Croatian start-ups

The Commission welcomes the signature of an agreement between the European Investment Bank (EIB) Group and private investment company Fil Rouge Capital, launching a Cohesion Policy-backed Venture Capital Fund.

Thanks to €32.5 million from Cohesion Policy funds, the Fund will invest in innovative start-ups with high growth potential in the country. The Venture Capital Fund will contribute to developing a dynamic local start-up ecosystem. More than 100 start-ups should benefit from better access to finance.

European Commissioner for Regional Policy Corina Crețu said: ”This is very good news, and yet another example of Cohesion Policy at work. The launch of this Fund, backed by Cohesion Policy, means fresh financing for Croatian small and medium businesses, and this is often exactly what they need to launch new products, integrate innovative processes, create new jobs and expand beyond their local market.”

This is the first Venture Capital Fund set up in Croatia with the help of Cohesion Policy funding. In total, €250 million of from Cohesion Policy funds is invested through financial instruments to support competitiveness of Croatia’s small and medium-sized enterprises in 2014-2020, in line with the objectives of the Investment Plan for Europe, the Juncker Plan.