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Sep 25, 2020 (Baystreet.ca via COMTEX) —
Spotify (NYSE:SPOT) CEO Daniel Ek announced Thursday that he will commit one billion euros ($1.2 billion U.S.) of his own resources to invest in European startups.
Ek told a virtual conference he would use the funds to make “moonshot” bets in the continent, focusing on deep technology — new tools that are focused on scientific innovation. Among the sectors Ek is looking to invest in are health, education, machine learning and biotechnology.
“I want to do my part; we all know that one of the greatest challenges is access to capital,” Ek said, adding he wanted to achieve a “new European dream” — akin to that of the American Dream — over the next decade.
Forbes pegs Ek’s personal fortune at $3.6 billion, thus, about a third of this money