National Promotional Institutions present proposals to foster EU venture capital

Brussels (ots) - Today, the national promotional institutions of the
five largest European economies (Bpifrance in France, British
Business Bank in the UK, Cassa depositi e prestiti in Italy,
Instituto de Credito Oficial in Spain and KfW in Germany) presented
their joint study on the European venture capital market, making
recommendations for boosting EU venture capital to the next level.

Access to venture capital is a key success factor for innovative,
growth-oriented start-ups. This is why the study "Building Momentum
in Venture Capital across Europe" was conducted jointly by the five
national promotional institutions. It is based on available
statistics and their expert knowledge of the single national markets.

"Since the beginning, National Promotional Institutions (NPIs) have
been important actors in European VC markets, addressing market
failure and helping the markets to emerge - and they will continue to
do so", pointed out the economists Edoardo Reviglio, Chief Economist
of Cdp Cassa depositi e prestiti (Italy); Philippe Mutricy, Chief
Economist of Bpifrance; Blanca Navarro, Chief Economist of ICO
Institute de Crédito Oficial (Spain); Jörg Zeuner, Chief Economist of
KfW (Germany); and Matt Adey, Director of Economics of British
Business Bank.

Contrasting the EU venture capital market as a whole with the single
national VC markets and with the US benchmark, the study identifies
four main areas where further actions are paramount: Increasing the
supply of funds for VC investments, reducing the fragmentation within
the European VC markets, increasing quantity and quality of demand
for VC, and improving exit routes for VC investments. To build
momentum in VC across Europe, activities in these fields are needed
on both the EU as well as the national level.

The main findings of the study were presented during a joint lunch
debate that brought together more than 100 participants including the
European Association of Long Term Investors (ELTI), the European
Investment Fund, Invest Europe and the University of Oxford.

The study is available here:

http://ots.de/7Rlhq

Press contact:

Bpifrance: Anne Sophie de Faucigny - [email protected], Tel:
+33 141 799 910; Nathalie Police - [email protected], Tel
: +33 141 799 526

BBB: Scott Shearer - [email protected]

Cdp: Rodolfo Belcastro - [email protected] Tel. +39 06 4221
4000

ICO: Marisa del Río - [email protected], Tel: +34 91 592 1722

KfW: Wolfram Schweickhardt - [email protected], Tel: +49
69 7431 1778

About the five national promotional banks

About Bpifrance

Bpifrance, a subsidiary of the French state and the Caisse des
Dépôts, and the entrepreneurs' trusted partner, finances businesses
from the seed phase to IPO by means of loans, guarantees and equity
investments. Bpifrance also provides operational services and strong
support for innovation, export, and external growth in parnertship
with Business France and Coface. Bpifrance offers businesses a large
range of financing opportunities at each key step of their
development, including offers adapted to regional specificities. With
its 42 regional offices (90 % of decisions are made locally)
Bpifrance represents a strategic tool for economic competitiveness
dedicated to entrepreneurs.

More info: @ www.bpifrance.fr

About the British Business Bank

The British Business Bank is the UK's national economic development
bank. Established in November 2014, its mission is to make finance
markets for smaller businesses work more effectively, enabling those
businesses to prosper, grow and build UK economic activity. Its remit
is to design, deliver and efficiently manage UK-wide smaller business
access to finance programmes for the UK government. The British
Business Bank is currently supporting over 51,000 businesses, working
through its 90 finance partners. Its programmes support over £3.2bn
of finance to UK smaller businesses and participate in a further
£4.6bn of finance to UK small mid-cap businesses.

More info: @ www.british-business-bank.co.uk

About Cassa depositi e prestiti

Cassa depositi e prestiti (Cdp) is the National Promotional
Institution that has supported the Italian economy since 1850. It
finances public investments, nurtures international cooperation and
is the catalyst for the country's infrastructure growth. It backs
Italian enterprises, helping them innovate and grow, while fostering
their exports and international expansion. As the primary operator in
social and affordable housing, Cdp contributes to the growth of the
Italian real estate sector and promotes urban transformation. Cdp's
important stimulative role in Italy's economy is evident in its
2016-2020 Business Plan. During this five-year period, Cdp will
inject EUR 160 billion, plus over EUR 100 billion through public and
private funds, into the economy to help drive Italian growth.

More info: @ http://en.cdp.it

About Instituto de Credito Oficial

ICO is a state-owned bank, created as a public corporation, attached
to the Ministry of Economy, Industry and Competitiveness. It has the
legal status of a credit institution and takes the role of state
financial agency. As a state-owned bank, ICO grants loans to finance
investment and liquidity projects for businesses in Spain and abroad,
through intermediary financial institutions or via direct financing.
Moreover, as the State Financial Agency, ICO manages the official
financing instruments provided by the Spanish state to promote
exports and support development.

More info: @ www.ico.es

About KfW Group

KfW is one of the world's leading promotional banks. With its decades
of experience, KfW is committed to improving economic, social and
ecological living conditions across the globe on behalf of the
Federal Republic of Germany and the federal states. To do this, it
provided funds totaling EUR 79.3 billion in 2015 alone, and of this,
37 % went into measures for protecting the environment and combating
climate change.

KfW does not have any branches and does not hold customer deposits.
It refinances its promotional business almost entirely through the
international capital markets.

In 2015 KfW raised EUR 62.6 billion for this purpose. In Germany, the
KfW Group is represented in Frankfurt, Berlin, Bonn and Cologne. Its
network includes 80 offices and representations around the world.

More info: @ www.kfw.de/kfw.de.html

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