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Japan lender teams with U.S. investment bank on Europe VC fund

JBIC and FF Venture Capital plan $64m foray into Eastern Europe startup scene

JBIC mainly plans to buy into businesses just getting off the ground. (Photo by Daiki Katagiri)

TOKYO -- The Japan Bank for International Cooperation has partnered with U.S.-based FF Venture Capital to launch a 60 million euro ($64 million) fund investing in startups in seven Central and Eastern European countries.

The fund will be run by FF and a joint venture between JBIC and Japanese consulting firm Industrial Growth Platform. It will seek targets in Germany -- Europe's largest economy -- and neighboring countries Poland, Hungary, the Czech Republic, Slovakia, Romania and Austria. These countries have fast-growing startups in fields such as automation.

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