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Estonia creating state-backed fund to directly invest into the equity of companies developing defense technologies (news.err.ee)

submitted 6 months ago by 0x815@feddit.de to c/finance

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Cross posted from: https://feddit.de/post/11697931

The €50 million fund will mainly invest in companies operating in Estonia to alleviate excessive risks so the companies are attractive for private capital.

The detailed terms and conditions of the fund will be developed by the Ministry of Economic Affairs and Communications and the government plans to discuss them in July.

Prime Minister Kaja Kallas said this will strengthen Estonia's security and help boost the economy. The fund will help Estonian defense industry companies to develop and bring their products to the market.

"Estonia has a very highly developed technology sector, but there is a market failure in the use of this capacity to increase our national security. The state can help with seed funding here," she said, adding it will also create jobs.

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