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EIB Group provides EUR 100 million for new private equity fund investing in tech and industrial firms

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    Date: 29 April 2016

The EIB Group, formed by the European Investment Bank (EIB) and European Investment Fund (EIF), is providing EUR 100 million for a private equity fund designed to support investment in midcaps mainly in the technology and industry sectors. With a first closing of EUR 400 million, the fund has also attracted a EUR 100 million participation by the Centre for Technological and Industrial Development (CDTI) as well as private investment. This is the first operation signed in Spain in 2016 under the European Fund for Strategic Investments (EFSI) and the first fund supported by EFSI aimed at capitalising tech and industrial firms.

The EUR 40 million provided by the EIB comes on top of the EUR 60 million committed by the EIF, making a joint EIB Group participation of EUR 100 million that sparked the interest of private investors and enabled the fund to achieve its target size of EUR 400 million at first closing.

Managed by N+1 Capital Privado, S.G.E.I.C., the fund will take majority stakes in unlisted Spanish and Portuguese companies. It is designed to invest in mid-sized firms with strong international growth potential, focusing mainly on the tech and industry sectors. Individual equity investments will range from EUR 35 million to EUR 75 million.

Signing the agreement, Román Escolano, EIB Vice-President said that this equity participation is representative of what we want to do under the Investment Plan for Europe and demonstrates the EIB Group’s commitment to fostering the growth of mid-sized tech and industrial companies. I would also like to underline the Group’s close cooperation with CDTI in this operation”.

European Commissioner Miguel Arias Cañete said: "The agreement signed today under the Investment Plan for Europe is excellent news for technology-oriented companies in Spain and Portugal. Each week, the EFSI is helping small and medium-sized businesses all over Europe gain access to the finance they need to grow their companies and create local jobs."

Note to editor

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

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 (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment.

About the Investment Plan for Europe

The Investment Plan focuses on removing obstacles to investment, providing visibility and technical assistance to investment projects and making smarter use of new and existing financial resources. The Investment Plan is already showing results. The European Investment Bank (EIB) estimates that by April 2016, the European Fund for Strategic Investments (EFSI) triggered more than €80bn of investment in Europe.

Find out the latest EFSI figures including a break-down by sector and by country here. For more information see the FAQs.

Press contacts

EIB: Matilde del Valle Serrano, tel. +352 4379 83154 m.delvalle@eib.orgWebsite: www.eib.org/press - Press Office: +352 4379 21000 – press@eib.orgFollow us on Twitter @EIB

EIF: David Yormesor, tel. +352 24 85 81 346 d.yormesor@eif.org

European Commission: Dimitri Barua, tel.: +34 91-4238000 Dimitri.BARUA@ec.europa.eu

 

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