Germany Builds $12B Tech Startup Fund: Bloomberg

  • Germany is investing €10 billion ($12 billion) to support technology startups in their growth phase, Bloomberg reports.
  • The money will find its way into an investment fund to help the startups seamlessly raise venture capital, Finance Minister Olaf Scholz and Economy Minister Peter Altmaier said.
  • German startups, including financial technology firm N26, air-taxi maker Lilium and travel platform Omio, raised $4.5 billion in 2020, with the largest rounds still led by foreign investors.
  • While access to private capital has improved in recent years, female founders remain a minority in the German startup ecosystem.

Posted In: BloombergBriefsGermanyGovernmentNewsTechMedia

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