Munich-based venture capital company G+D Ventures and the European Investment Bank (EIB) have rolled out a co-investment platform with €50 million to support European startups in the trust tech environment. The aim of the fund is to close the funding gap for early-stage startups in the EU in this area and to advance young companies that are committed to developing innovative solutions to enhance security.
The fund will invest in European startups working on solutions for greater security and trust in the digital world. These include startups offering cyber security solutions, privacy-protection technologies, digital identity management, and secure authentication and payment systems.
Ralf Wintergerst, chairman of the management board and group CEO of Giesecke+Devrient said: “In an increasingly digital world, credibility plays an essential role. With this fund, we want to provide targeted support for European startups whose developments make the digital world safer.”
Ambroise Fayolle, EIB vice president, added: “Cybersecurity and trust tech are becoming increasingly important for the digital future of Germany and the rest of Europe. We look forward to developing this market in Europe.”