COSME - Equity Facility for Growth (EFG)

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The Equity Facility for Growth (EFG) is a window of the Single EU Equity Financial Instrument which supports EU enterprises' growth and research and innovation (R&I) from the early stage, including seed, up to expansion and growth stage.
EFG – managed by EIF – is part of COSME (Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises), an initiative launched by the European Commission.

How does COSME EFG work?

Through COSME EFG, EIF invests in  selected funds – acting as EIF’s financial intermediaries –  that provide venture capital and mezzanine finance to expansion and growth stage SMEs, in particular those operating across borders. The fund managers will operate on a commercial basis, to ensure that investments are focused on SMEs with the greatest growth potential.

EFG is a successor to the High Growth and Innovative SME Facility (GIF), implemented under the Competitiveness and Innovation Framework Programme (CIP) in the period 2007-2013.

Who is eligible* to become EIF’s financial intermediary under COSME EFG?

Eligible applicants to receive funding under COSME EFG and thus to become EIF’s financial intermediaries are entities undertaking risk capital investments - including  investment funds, private equity funds and special purpose vehicles - into SMEs according to applicable legislation, established and operating in one or more of the EU Member States and COSME Associated Countries.

(*) For detailed and complete eligibility criteria please see the application documents below.

Which type of companies can benefit from COSME EFG?

SMEs, established and operating in one or more EU Member States and COSME Associated Countries.
Supported SMEs should not be carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors.

How to apply

For financial institutions:
If you are eligible, you can apply by downloading the application documents published under the Single EU Equity Financial Instruments by 30 September 2020. EIF will select intermediaries after a due diligence process.

For SMEs:

Are you looking for equity finance and would like to see which financial intermediaries currently cooperate with us? Please visit
For information about finance available under further EU initiatives, please visit


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