Searches and Hires

2 Dutch funds commit to venture capital fund

Pensioenfonds van de Metalektro and Pensioenfonds Metaal & Techniek, both located in The Hague, Netherlands, jointly committed €150 million ($170 million) to venture capital fund Innovation Industries II, a spokeswoman at PMT said.

The venture capital fund focuses on Dutch technology startups and has a target of €250 million. PMT and PME each committed €75 million.

"Investing in promising technologies means investing in our own industry. With the fund, we can have an impact on developments in innovation and job creation," Marcel Andringa, executive director at PME, said in an emailed statement. PME, with €46.4 billion, previously invested €25 million in Innovation Industries Fund I.

Hartwig Liersch, chief investment officer at the €71.8 billion PMT, said in an emailed statement: "We benefit from the preservation and growth of the Dutch industry. Innovation is crucial in this and it is great that we can contribute to this in this way."