The Danish government has entered an agreement with three pension funds to launch a €670 million venture capital fund, IPE reports. Since August 2010, ATP, LD and industry association, Forsikring & Pension, have been in talks with the ministry of economic and business affairs regarding the proposal.

As per the deal, Denmark will create an investment company, Dansk Vækstkapital, which will give small and medium-sized enterprises access to capital. The proposal was backed by PensionDanmark, which expects to invest between €26.84 million and €33.55 million in the project.

Click here for the story from IPE.