This new SEK 582 million Fund-of-Funds initiative was launched by EIF in April 2016 in close co-operation with the Swedish Agency for Economic and Regional Growth to support access to equity capital for Swedish early-stage high-growth enterprises.
The Swedish Venture Initiative is among the first first fund-of-funds that EIF has invested into, combining resources from the European Structural and Investment Funds (“ESIF”) resources and from the European Fund for Strategic Investments (EFSI), the heart of the European Commission's Investment Plan for Europe.
The new fund-of-funds, using ESIF resources, will support a new and emerging early stage venture capital fund management teams with a strong track-record and commitment to invest into SMEs in Sweden. Co-investment from EFSI by the EIF into the underlying funds will encourage private investors to commit additional resources into these funds. It is expected that more than SEK 1 billion in equity investments will be made available to the Swedish enterprises in the next years.
The Swedish Venture Initiative will invest in several early stage venture capital funds which will then invest primarily in Swedish enterprises. The fund managers will be selected by an open call for expression of interest. The selected fund managers will receive a cornerstone investment into their fund from the combined resources of the Swedish Venture Initiative and co-investment by EIF.
You are a fund manager: how to apply for cornerstone investment by SVI:
The application process is closed since 14 September 2016. Applications are being processed on a “comparative" basis. Fund managers will be selected by the end of 2016. For more information about the eligibility and exclusion criteria for financial intermediaries please refer to the Call for expression of interest.
You will find answers to "Frequently Asked Questions", in the Clarification Document published on 05 September 2016.
For SMEs and entrepreneurs looking for equity investments:
The list of selected funds acting as EIF’s financial intermediaries is currently ongoing. For information about finance available under further EU initiatives in Sweden, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/
Deniz Erkan, tel.: +352 2485 81818 (office), e-mail: email@example.com