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AI Co-Investment Facility

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    Date: 02 December 2020 - 31 December 2020

The AI Co-Investment Facility is a EUR 150 million joint equity instrument targeting companies in the field of artificial intelligence. Launched in December 2020, it is deployed over a period of four years, with the aim to: i) support the European ecosystem of excellence and trust in AI and the European Digital Strategy of the European Commission; ii) and target the "second equity gap” that companies face when they move into the growth phase of their life cycle.

The co-investment structure of this Facility allows the European Investment Bank to invest alongside EIF-backed fund managers and private investors into relevant companies in this sector. The co-investments will be based on market terms and conditions.

Europe's artificial intelligence sector has shown a lot of potential over the past years, but a substantial funding gap remains. Therefore, the AI Co-Investment Facility aims to contribute to filling this gap.

The AI Co-Investment Facility complements and builds on EIB and EIF expertise in the sector, developed through the existing EUR 100m Artificial Intelligence/Blockchain pilot under InnovFin Equity and direct EIB financing for AI companies through its venture debt instrument.

The new Facility is part of a larger initiative of the EIB Group and the European Commission to support the development of Europe’s digital future and a leading European tech sector. Whilst European AI companies have shown a lot of outstanding potential, which is comparable to, and competitive on a global scale, we have noticed a significant market gap that our new initiative now aims to decrease.

How does the Artificial Intelligence Co-Investment Facility work?

The new funds are available in the EU and Horizon 2020 associated countries. The co-investment portfolio will comprise approx. 20-30 operations above EUR 1 million each. Small and medium-sized companies, as well as corporates are eligible for financing with the focus of the investments remaining nonetheless on early and growth stage companies. The resource allocation to potential co-investments is evaluated on an ongoing, first-come-first-assessed basis and in respect of the proposals’ merits. The size and conditions of each proposed co-investment are assessed in each case.

The AI Co-Investment Facility’s key features are in this overview presentation.

What are pre-defined eligibility criteria for the target companies?

The target company must:

  • be active in the field of Artificial Intelligence;
  • be an SME, small midcap, large midcap, or corporate;
  • has the majority of its R&D FTEs in EU27 and Horizon2020 associated countries;
  • demonstrate strong growth potential.

Are you a fund manager interested in collaborating with us under the AI Co-Investment Facility?

Interested fund managers should contact AI-Facility(at)eif.org and submit the Approval Form of co-investment proposal targeting an identified company.

 

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