Activity overview

EIF's venture capital instruments consist of equity investments in venture capital funds that support SMEs, particularly those that are in their early stages of development and those that are technology-oriented.

To support its remit, EIF has significant means available for investment, with a current portfolio of in excess of EUR 4.4 billion invested in 266 venture capital funds and an objective to invest substantially more in the region over the next years.

EIF's venture capital activity is principally backed by resources from its main shareholders:

Capital from the EIB Group, namely EIB and EIF, forms the bulk of the EIF's investments.
Capital from the European Commission is allocated under the High Growth and Innovative SME Facility (GIF), under 2 programmes, known as GIF 1 and GIF 2. Please note that both of these EC programmes have more specific eligibility criteria than the EIB Group operations.

EIF also makes venture capital investments using resources which are made available to EIF through mandates from non-shareholder sources, such as

EIF Dachfonds, which EIF manages on behalf of the German Federal Ministry of Economics and Technology (BMWi) and the European Recovery Programme (ERP)
NEOTEC, a joint venture between EIF and a Spanish government entity
Dahlia, a pan-European fund-of-funds, jointly sponsored by EIF and Natixis Private Equity.

Other areas of EIF's venture capital activities are described in the Market Development section.

Please note that EIF is a fund of funds specialist, 100% geared towards investing in new funds. Any involvement in the small end of the M/LBO market will take place only where SME support is demonstrated.

Please note that small businesses (SMEs) cannot obtain finance directly from EIF.
SMEs should therefore not approach EIF with requests for funding (loans, subsidies or grants, etc.).

SMEs are invited to visit the Access to Finance website for information about sources of finance backed by the European Union.