EIF makes an investment in BaltCap Private Equity Fund
Date: 29/05/2008EIF announces an investment in BaltCap Private Equity Fund, a fund focusing on expansion and development capital for small and medium-sized companies (“SMEs”) based in Estonia, Latvia and Lithuania.
First close was completed at EUR 58m, with an expected final close at EUR 100m.
This is the first EIF investment ever in the new Member States under the Competitiveness and Innovation Framework Programme (CIP-GIF2) funded by the European Union. The aim of GIF2 is to support the establishment of SMEs with growth potential in their expansion phase.
The BaltCap Private Equity Fund will invest between EUR 5m and EUR 10m in small and medium-sized companies with strong growth potential by acquiring either majority or significant minority equity positions.
The sector focus will be on retail businesses, export-oriented manufacturing companies, travel and leisure, environmental, communication, transportation and construction industries.
For further information, please contact Delphine Munro, d.munro@eif.org, or visit EIF’s website www.eif.org
