IMEC fund gets VC backing
Capricorn Venture Partners expects to raise EUR40-60mn of committed capital for ITF from local and international investors. The first closing is likely to be called towards the end of Q3 2004 at around EUR20-25mn, allowing ITF to make its first active investments.
An independent management and investment team within Capricorn Venture Partners will manage the ITF, carrying out analysis of opportunities and where appropriate submitting proposals. After the initial investment, the ITF management and investment team will closely monitor its portfolio companies and provide them with hands-on and pro-active coaching.
The team will at all times remain in close contact with IMEC from the moment of initial incubation of the initiative within IMEC. This reciprocal exchange of feedback between IMEC and ITF will help to bring new spin-off initiatives to their seed capital phase in the most efficient manner possible.
The ITF has an advisory board consisting of respected national and international scientists and industrial experts with a deep understanding of the technology domains at stake and a unique vision on current and future markets and market trends.
"The current economic situation has almost completely eroded the supply of venture capital, a state of affairs that is significantly slowing down technological entrepreneurship in Flanders," comments Gilbert Declerck, CEO of IMEC.
