The European Investment Fund (EIF) is launching a dedicated investment scheme with €100 million available to artificial intelligence (AI) and blockchain-focused venture funds and investors.

With the help of the European Commission (EC), the EIF says it wants to address the “blockchain and AI financing gap in Europe”.

The EIF says funding in blockchain and AI rarely gets beyond proof-of-concept stage in Europe.

Off the back of this investment scheme, the EIF is expecting to see €300 million generated for AI and blockchain-focused ventures from other private investors ‘crowding in’.

Beginning in 2020, the EIF says it will increase capital further still through the scheme by allowing co-investments with national promotional banks