EIF is playing an important role through projects that extend into new areas, both in terms of geographical location and technological fields.
Two projects stretch into new territorial areas for EIF's venture capital involvement, Turkey and Portugal, where the venture capital segment is emerging.
Istanbul Venture Capital Initiative (iVCi) is a new Turkish fund-of-funds acting in support of the development of risk capital in Turkey.
Portugal Venture Capital Initiative (PVCi) is a fund of funds focussed on private equity and venture capital funds in Portugal.
EIF and clean tech
EIF is a proponent for the emerging eco-innovation, or clean technology, sectors. Eco-innovation is defined as innovation aiming at significant and demonstrable progress towards the goal of sustainable development, through reducing impacts on the environment or achieving a more efficient and responsible use of natural resources, including energy. EIF's venture capital mandate from the EC, GIF, is geared towards supporting technological innovations. EIF's role places it as a key player in the transfer of technological innovation from research laboratories and universities, into the market place, as 'spin outs', deriving commerical value from research and development.
The Global Energy Efficiency and Renewable Energy Fund (GEEREF) is a new project to provide global investment in energy efficiency and renewable energy projects in developing countries and economies in transition.