European Investment Fund (EIF) is investing €28 million in the Growth Blue I fund, which is a private equity fund that invests in early-stage companies in the blue economy in Portugal.
The EIF’s investment is part of the InvestEU program, which is a €1 trillion investment plan that was launched by the European Commission in 2018. The InvestEU program aims to boost economic growth and create jobs in Europe by supporting investment in a wide range of sectors, including the blue economy.
Photo by Silas Baisch on Unsplash
The Growth Blue I fund is expected to make investments in 8 to 12 companies over the next four years. The fund is managed by Portugal Blue Investments, a subsidiary of Portugal Blue.
The EIF’s investment in the Growth Blue I fund is a significant vote of confidence in the Portuguese blue economy.
The fund is expected to help to accelerate the development of innovative solutions in this important sector, which could create jobs and boost economic growth in Portugal
.Here are some of the benefits of the EIF’s investment in the Growth Blue I fund:
- It will help to accelerate the development of innovative solutions in the blue economy.
- It will create jobs and boost economic growth in Portugal.
- It will help to make the Portuguese blue economy more sustainable.
