February 4 (SeeNews) - Serbia's government plans to introduce a mechanism for support of venture capital investments in the country this year, minister without portfolio in charge of innovation Nenad Popovic said.
Serbia is developing mechanisms to facilitate financing of start-ups with the support of Israeli venture capital fund Pitango, Popovic said in a video file posted on the website of news agency Tanjug on Monday.
Pitango plans to share its experience with the launch of the high-tech and venture capital industry in Israel, the co-founder of the venture capital fund, Chemi Peres, said. "We believe that the same could be done in Serbia through the cooperation between businesses and the government."
Pitango Venture Capital, established in 1993, is Israel's largest venture capital fund with over $1.8 billion (1.6 billion euro) under management. Pitango is focused on seed, expansion and late-stage companies in core technologies, consumer, and life sciences.
($ = 0.9043 euro)