Government officially launches €10 million venture capital fund to support innovative start-ups

On Tuesday the Government officially launched a €10 million venture capital fund aimed at providing equity investment in start-up companies focused on innovative technologies.

First announced last September during the first TechXpo held in Malta. Since then, 46 start-ups have showed interest, as well as 16 investors - of which six have already applied to partner up and invest their private funds, the Economy Ministry said in a statement.

On Tuesday, Economy Minister Silvio Schembri inaugurated the new offices from which the fund will start operating.

"Through this fund we are ensuring that we have a strong ecosystem, with support and funding measures. We look forward to seeing start-ups develop their ideas through this support we are offering them," said Minister Silvio Schembri.

The fund will be focused on sectors including video gaming, esports, ICT, fintech, life sciences, pharma, green energy, film industry, agritech, AI, blockchain, communications, electronics, financial services, medical devices, software, technology, VR, bluewater industries and digital technology.

These sectors have been strategically selected due to their existing presence in Malta and their potential for growth and sustainability. They offer high-quality job opportunities and operate in compact spaces, making them viable contributors to the economy.

Malta Venture Capital Chairperson Jesmond Gatt explained that, "Within two years, many companies will be investing and thus be able to expand their operations. New funds will also be generated for companies in need of investment in the coming years."