Investment fund Cultuurinvest
CULTUURINVEST INVESTMENT FUND
CultuurInvest is a new investment fund aimed at financing enterprises and projects in the cultural industries sector.
In concrete terms, the target group typically includes enterprises in the following sectors:
- new media and computer games
- the audiovisual sector and digital design
- the music industry and concert scene
- design and designer fashion
- printed media and graphic design
- publishing and booksellers
- musical and performing arts
- distribution within the visual arts
CultuurInvest aims to invest directly in enterprises in the target sector by means of 3 'products':
- Project finance: short-term and bridging finance for concrete projects
- Growth capital: capital participation in more mature growth enterprises
- Subordinated loans: quasi-capital invested long-term in the target sector
CultuurInvest will start with a base capital of 20 million euro. In a second phase, additional private means may be used to increase CultuurInvest funds to 32.5 million euro.
The ParticipatieMaatschappij Vlaanderen (PMV) is responsible for managing and operationalising Cultuurinvest.
CultuurInvest was established on the initiative of the Flemish Minister of Culture, Bert Anciaux, and with the support of the Minister of Finance and Budgeting, Dirk van Mechelen, and the Minister of Economics and Innovation, Fientje Moerman.
Cultuurinvest's operationalisation will initially require much work behind the scenes (European registration, advice from the Instituut voor de Nationale Rekeningen regarding the ESR impact, development of the management team, finalising financial agreements, creating a website, drawing up procedures and contract documentation, and so on).
The PMV hopes to finalise these activities in the course of September or October so that the first investment can be carried out this year. A specific communication to the target sector will follow in the course of October. This will be followed by the activation of an e-Registration form on this webpage. Cultural entrepreneurs can initiate their investment application via this e-Registration form.