29 November 2006

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MIMCOL incorporates Malta Venture Capital plc

The government’s two investment arms, Malta Government Investments Ltd, and Malta Investment Management Company Limited (MIMCOL) have officially incorporated a new company, Malta Venture Capital plc, which will spearhead the long-awaited venture capital fund.
In the last budget, Prime Minister and Finance Minister Lawrence Gonzi said the government was still committed towards the creation of the fund, and announced it would be licensed as a collective investment scheme under the auspices of the Malta Financial Services Authority. Through its investment arm Malta Government Investments, it would promote and assist the financing of the fund by contributing Lm900,000 of the initial capital.
Malta Venture Capital was incorporated the 8 November 2006, with an authorised share capital of Lm10 million and paid-up capital of Lm900,000. Its directors are Joseph D. Camilleri, Louis A. Farrugia, Alec A. Mizzi, Mario Mizzi, and Michael Soler.

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