Venture Capital

Telekom Srbija to set up 5 mln euro venture fund for startups


BELGRADE (Serbia), February 24 (SeeNews) – Serbian state-controlled Telekom Srbija will establish a venture fund for startups with an initial capital of 5 million euro ($6 million), its general director Vladimir Lucic said.

Telekom Srbija plans to invest 5 million euro per year in the venture capital fund which will be the first of its kind in the country, Lucic said in an interview for public broadcaster RTS published on Tuesday.

The venture fund is expected to launch operations by June, with a view to begin providing financing to startups as of September, Lucic said.

The fund will finance startup projects with amounts of 50,000 euro or 100,000 euro.

($ = 0.8226 euro)


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