BNP Paribas has been appointed to provide depositary and global custody services for the newly launched Growth Fund Germany, a development of the Future Fund (Investment Fund for Future Technologies) from the German government and KfW Capital. With a final closing amount of c. EUR1bn (USD1bn), the growth fund aims to enhance financing opportunities for start-ups and SMEs.
As custodian and depositary, BNP Paribas will partner with Universal Investment, and will provide additional banking services to process institutional investors’ subscriptions and to support investment in private capital target funds and other assets.