Venture Capital Malta was launched by Investment Minister Chris Cardona this morning.

The initiative is being developed by the government through Malta Investment Management Company Limited (Mimcol) and Malta Enterprise in collaboration with finance and advisory specialists from the private sector.

Dr Cardona said that the main objective of the Venture Capital Malta was to develop the country as an oasis for new business opportunities, welcoming new ventures with the support of finance in the guise of private equity or venture capital.

It would enhance the currently available bank financing and other schemes and incentives supported by the government and help create a platform focused at assisting start-ups that may not always be in a position to access the kind of financing they required.

Both Mimcol and Malta Enterprise would provide funding and resources, and would work with financial services providers reaching out to the leading cities hosting Venture Capital and Private Equity.

“The mission is to get these people to consider Malta as an ideal jurisdiction for a new venture set-up in Europe,” Dr Cardona said.