PRINT THIS PAGE ERP-EIF Dachfonds cornerstones TVM Life Science Ventures VI 08/12/2004. Source: AltAssets. 
 The European Investment Fund has signed a cornerstone commitment in TVM Life Science Ventures VI, a venture capital fund focusing primarily on investments in early and development-stage biotechnology and biopharmaceutical companies.
The fund will be managed by the Life Science team of the Munich-based venture capital advisory company Techno Venture Management. TVM, founded in 1983, has focused on information and communications technology and life sciences for many years.
Francis Carpenter, chief executive of the EIF, said, 'We are pleased that the ERP-EIF Dachfonds has become cornerstone and first investor in TVM Life Science Ventures VI at a moment we consider very interesting in terms of investment opportunities in biotech early and development-stage companies.
'We are convinced that the team is very well placed to exploit such opportunities. The signature comes at a time when the fundraising environment for early stage VC funds, particularly in Germany, is very difficult and it is expected to have a strong signalling effect, which should allow the fund to shortly reach its target size.'
The EIF is the largest investor in venture capital funds in Europe. The Dachfonds were provided by the German government as part of its initiative to invigorate the venture industry in Germany and elsewhere in Europe.
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