Investment adviser for European circular bioeconomy fund selected
On 29 November 2019, the European Commission and the European Investment Bank announced the selection of an Investment Advisor for the upcoming European Circular Bioeconomy Fund (ECBF). The fund aims to provide financing for innovative circular bioeconomy companies and projects in the EU and in countries associated with the Horizon 2020 programme. The selected investment advisor is ECBF Management GmbH and Hauck & Aufhäuser Fund Services S.A. will act as the Alternative Investment Fund Manager.
The upcoming fund, created as part of the EU Bioeconomy Strategy, aims to raise funds from public and private investors with a target volume of €250 million and for a first close in early 2020. It will invest in areas such as agriculture and farming, aquaculture, fisheries, forestry, biochemicals, biomaterials, and nutrition. There is a proposal for the European Investment Bank to invest up to €100 million in the fund, which is backed by a guarantee from InnovFin – EU finance for Innovators, an initiative funded under Horizon 2020.TOP