Noctua Science Ventures Raises €15 Million: Five Universities and Major Investors Join In
Published
The Austrian venture capital fund Noctua Science Ventures has completed a first closing with a total volume of €15 million. A closing means that investors have binding commitments to a fund and that the capital is available for investments.
The investors include five universities, the energy company Verbund, Erste Group and Austria Wirtschaftsservice (aws). The aws is a federal promotional bank that supports business start-ups and innovation in Austria. The investor Allocator One is also a participant in the fund. The combination of universities, industrial companies, a bank and a public funding agency shows that the fund is attracting broad interest from both academia and business.
The fund is aimed at scientific projects and young companies that emerge from research. Such spin-offs are considered an important component of the innovation system. However, they often need capital before they can generate profits. The new fund is intended to provide financial support to these companies in their early development phase.
The first closing is an important step in building the fund. Further investors could join in the coming months. Whether and when the fund will fully deploy its capital depends on further developments and on concrete investment opportunities.
Sources: brutkasten
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