The ERP-EIF Dachfonds is a EUR 1bn fund of funds which invests in venture capital funds focusing mainly on German based, high-tech early and development stage companies. Even though those funds are not restricted to invest solely in German companies, the main focus of investments should be in Germany. ERP covers all technology areas (ICT, Life Sciences, energy-related, emerging and converging technologies).
EIF manages the facility on behalf of the German Federal Ministry of Economics and Technology (BMWi) and the European Recovery Programme (ERP), from which EUR 577m are committed to date. This amount is matched by co-investments from EIF, EIB and EU resources and has helped to raise almost another EUR 2bn from private investors.
The ERP-EIF Dachfonds
- Seeks attractive financial returns
- Helps structuring and improving the business proposition of VC teams
- Is a pari passu cornerstone investor for commercially viable teams
- Promotes best industry practice (fund structures, governance)
- Provides a catalytic role through high quality due diligence process
- Is a network gate for VCs through EIF's large portfolio
- Is a reliable and active investor adding value throughout the investment process
Investment criteria
- Independent teams with complementary Venture Capital, technology and industry experience
- Coherent fund strategy taking into account the know-how of the team as well as fund size and the geographic, industrial and technological focus of the fund
- Commercially viable fund sizes for team stability and the fund's shooting power concerning investments and follow-on financing needs
- Appropriate incentive for the whole team
- Pari-passu treatment of all investors
- Fund should follow commercial investment approach
- Clear legal and tax structure for the fund incl. market standard terms and conditions
- EIF may not participate in funds where funding from non-market-oriented investors exceeds 50% of the fund's total funding (excluding EIF)
- The funds in which EIF invests under the ERP-EIF Dachfonds must invest exclusively in SMEs according to the actual EU definition
- The fund should have an office in Germany
Team
The ERP team is fully integrated in EIF's VC Equity Fund investments team and brings together fund of funds, Venture Capital investment and technology expertise.
- Dr. Markus Schillo
- You-Ha Hyun
- Nitan Pathak
- Ralf Emmerich
- Assistant: Martina Veit
Contact
Teams with fundraising projects unter the scope of the ERP-EIF Dachfonds are welcome to directly contact the ERP team. The basis of a screening of any investment opportunity is a comprehensive concept paper and/or draft Private Placement Memorandum.
Tel.: +352 42 66 88 308
Fax: +352 42 66 88 301
E-mail m.veit@eif.org
