Vienna Insurance is among the limited partners for a $48m seed-stage fund aimed at university spinouts in Austria.

Austria-based IST Cube closed its seed-stage investment fund at €40m ($48m) today with backing from limited partners including insurance group Vienna Insurance. The fund’s LPs also include the European Union-owned European Investment Fund, federal development agency Austria Wirtschaftsservice, investment firm Mitterbauer-Beteiligungs-AG, the state of Lower Austria and about 20 private investors. The capital was raised…

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