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Europe supports EUR 240 million for innovative SMEs

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    Date: 28 November 2017

The European Investment Fund (EIF), with the support of InnovFin Equity and COSME EFG, is announcing its investment in four equity funds across the EU. These investments benefit from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

Recently, equity funds in Germany, Poland, Portugal and the Netherlands have announced fund closings with total commitments of more than EUR 70 million from EIF. These commitments are financially backed by InnovFin – EU Finance for Innovators, the financial instruments developed under Horizon 2020, the EU's Framework Programme for Research and Innovation. By mobilising other investors, including funds from the private sector, this is expected to result in eventual overall investments of around EUR 240 million for innovative companies across the EU.

In Germany, 42CAP II GmbH & Co will be the first institutional fund raised by a team emerging out of EIF's business angel co-investment program (EAF), and will manage a EUR 50 million fund targeting ICT companies with a major focus on enterprise software, infrastructure, and platforms in DACH, CEE regions amongst other EU countries. The emerging team of MarketOne Capital has a target size of EUR 30m and will mostly invest in 28 Marketplaces and SaaS companies in Poland and other CEE countries. With its EUR 85 million fund, Indico Capital Fund will invest primarily into early stage companies in Portugal. Newion Investments III, a multi-stage EUR 75 million fund will focus on b2b software companies in the Benelux region (applications, and business services).

EIF Chief Executive, Pier Luigi Gilibert commented: “EIF is a firm believer in the potential of innovative start-ups across Europe. This is why we are delighted to be partnering with these four first-time and emerging funds, in order to catalyse private sector and angel investments looking to identify the next leading innovators, whilst further strengthening the start-up ecosystem. The health of the European economy rests on its ability to innovate and EU support remains a key component. This cooperation which will trigger around EUR 240m worth of investments, clearly contributes towards those efforts.”

About the European Investment Fund

The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. EIF designs and develops both venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

About InnovFin – EU Finance for Innovators

InnovFin Equity is part of InnovFin – EU Finance for Innovators, a generation of EU financial instruments and advisory services developed under Horizon 2020 to help innovative firms access finance more easily. "InnovFin – EU Finance for Innovators" will help to inject around EUR 50 billion in investments in Research and Innovation across Europe.

InnovFin Equity provides equity investments and co-investments to or alongside funds focusing on early stage financing of enterprises operating in innovative sectors covered by Horizon 2020, located or active in the EU or Horizon 2020 Associated Countries.

Businesses can contact selected financial institutions in their country to access InnovFin and other brands of EU Finance: http://www.access2finance.eu/.

Press contacts:

EIF:
David Yormesor

Tel.: +352 42 66 88 346
e-mail: d.yormesor@eif.org

 
 

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