BioCentury
ARTICLE | Finance

Ebb & Flow

April 14, 2003 7:00 AM UTC

The European Investment Fund (EIF) is planning to become a more proactive player in the EU biotech sector, stepping in to fill what it sees as a shortfall of venture capital available for privately held European biotech companies.

EIF was formed in 1994 by the European Commission to support the creation, growth and development of small- and medium-sized enterprises (SMEs). The fund is majority owned by the European Investment Bank (EIB), which holds a 61% stake, the European Commission owns 30%, and European banks hold the remaining 9%. ...