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PMT and PME invest €150m in technology fund

first_imgDutch metal industry pension funds PMT and PME are to invest €75m each in a technology fund run by Innovation Industries, which focuses on local technology start-ups.The €47bn PME said that MN – the asset manager for both metal schemes – had been involved in the set up of Innovation Industries Fund II, in order to make it meet the demands of both pension funds.It added that the target capital for the investment fund was €250m.PME previously invested €25m in the €75m Innovation Industries Fund I in 2017, which was oversubscribed when it launched. The pension fund said the portfolio comprised 13 promising Dutch companies spawned by Dutch knowledge centres.“We co-operate with four technology universities as well as applied research institute TNO for investments in ‘early stage’ companies,” said Harm de Vries, partner at Innovation Industries.“This way, we ensure that scientific research doesn’t get stuck in the laboratory, but has an impact on society. We also invest in scale-ups seeking assets for international growth.”Marcel Andringa, executive board member at PME, highlighted that investing in promising technologies meant investing in the metal schemes’ target sector.“We can have an impact on developments in innovation as well as creating employment,” he said.PME said that, as a private equity investment, the long-term returns of both technology funds were expected to be at least 2% higher than the results of its equity holdings.last_img read more


Reds Rocked as Bournemouth Wins Seven-goal Thriller

first_imgShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Senegal international Sadio Mane and Belgian striker Divock Origi, starting a league game for the first time this season, established a 2-0 lead for the visitors midway through the first half.Callum Wilson halved the deficit from a penalty 11 minutes into the second half, but within seven minutes, Emre Can’s fine effort from the edge of the penalty area restored the two-goal cushion.It was snatched away, however, in stunning fashion with three Bournemouth goals in the last 20 minutes.Substitute Ryan Fraser and defender Steve Cook scored in the space of three minutes to bring Bournemouth level and in added time Chelsea loanee Ake grabbed a stunning winner after a mistake from Liverpool keeper Loris Karius.It was Liverpool’s first defeat in the last 12 league games and left them third in the Premier League, four points behind leaders Chelsea.Elsewhere yesterday, Leighton Baines scored a dramatic late penalty to add to Jose Mourinho’s problems as Manchester United were held to a 1-1 draw at Everton.Former Everton star Marouane Fellaini had only been on the field for two minutes as a United substitute when he tripped Idrissa Gueye unnecessarily and Baines made no mistake with a clinically-taken 89th minute penalty.Zlatan Ibrahimovic had produced the only moment of quality in a disappointing first half, when he gave United the lead three minutes before the break, although the goal was as much a result of a mistake by Maarten Stekelenburg.The Everton goalkeeper rushed out of his area, for no obvious reason, to try and beat Ibrahimovic to a hopeful through ball by Anthony Martial.And Ibrahimovic, a former teammate of Stekelenburg with Ajax, cleverly lobbed the ball over the keeper and towards the open goal, the ball bouncing against the crossbar and the right-hand post before referee Michael Oliver judged it had crossed the line with the aid of goal-line technology.United  is now 13 points behind leaders Chelsea as its poor run extended to one win in their last eight league games.Everton manager Ronald Koeman would have been angered that such an obvious individual error cost his team so dearly and would also have had cause for complaint over Oliver’s handling of an earlier appalling challenge from Marcos Rojo.The United defender launched a flying, two-footed challenge on Gueye, but Oliver somehow judged it was only worthy of a yellow, rather than the obvious red it deserved.Those were the only noteworthy incidents of the first period as United looked to improve on an indifferent run of two wins from their previous 10 league games. PREMIERSHIP*Mourinho’s woes continue with another draw at EvertonBournemouth’s Nathan Ake yesterday grabbed a stoppage-time winner in a dramatic 4-3 victory over Liverpool, who twice surrendered a two-goal lead.last_img read more